Will Coronavirus hit used car prices?

Will Coronavirus hit used car prices?

Author
Discussion

mike74

1,644 posts

84 months

Wednesday 11th March
quotequote all
Interest rates down, printing presses back up to full speed.... there's only one way used car prices are going thanks to the debt pushers and debt junkies.

liner33

7,663 posts

154 months

Wednesday 11th March
quotequote all
Dead people dont need to drive so used prices of Honda Jazz, Rover 75 and Toyota Avensis will likely drop as the market becomes flooded.


67Dino

1,558 posts

57 months

Wednesday 11th March
quotequote all
I’m guessing the price of these may suffer a bit.


Blakewater

3,406 posts

109 months

Wednesday 11th March
quotequote all
Part of the problem as well is oil price wars affecting the stock market and devaluing companies. That will affect investment, bonus payments, wage rises and customer confidence.

Deranged Rover

382 posts

26 months

Wednesday 11th March
quotequote all
I’m guessing Alfa values might drop.

fatboy b

8,478 posts

168 months

Wednesday 11th March
quotequote all
lee_erm said:
Angela Merkel has suggested 2/3 of Germans could contract COVID-19. The current mortality rate in Italy is I think above 5%. I'd say yes if we're talking worst case infection scenarios.
Italy has the second oldest population in the world. That’s why they’re suffering with a high percentage of deaths.

XIII

2,921 posts

50 months

Wednesday 11th March
quotequote all
67Dino said:
I’m guessing the price of these may suffer a bit.

I just sold my Toyota ISIS to get one of those!

LuS1fer

35,900 posts

197 months

Wednesday 11th March
quotequote all
In the 80s and 90s, many Toyotas died from the Corollavirus.

It was so boring.

80sMatchbox

3,724 posts

128 months

Wednesday 11th March
quotequote all
'I have cash, I can offer you (some silly offer)' calls will increase for those selling!

I'm half looking for a car, so I welcome a bit of a dip. smokin

mike74

1,644 posts

84 months

Thursday 12th March
quotequote all
80sMatchbox said:
'I have cash, I can offer you (some silly offer)' calls will increase for those selling!

I'm half looking for a car, so I welcome a bit of a dip. smokin
Might work with a private seller, but as I already said, lower IR's and more printy printy means that anything for sale at dealers (especially anything that can vaguely be described as ''classic/exotic/performance'' or ''appreciating future classic'') means the debt pushers and debt junkies will be pushing prices even higher than the current stupid bubble prices for these kind of cars.
Thursday 12th March
quotequote all
liner33 said:
Dead people dont need to drive so used prices of Honda Jazz, Rover 75 and Toyota Avensis will likely drop as the market becomes flooded.
laugh and all those Micras being driven very very very s l o w l y

loskie

1,697 posts

72 months

Thursday 12th March
quotequote all
who knows, new car building may be affected, factory shutdowns a shortage of parts. This may actually boost the demand for cars. The recent flooding in areas of the UK too must have also peaked some demand.
There may be an upside.

Wilmslowboy

2,740 posts

158 months

Thursday 12th March
quotequote all
ging84 said:
New car sales are likely to come to a halt, this typically has a knock on affect of reducing supply of used cars so thier values go up, however low interest rates have meant dealers are holding a lot more stock than they used to, so this might not happen.
There are some interesting dynamics at play with the new car mkt.

Millions of customers on PCP deals, who when they come to the end of their deal, will

Not be able to afford to pay the GFV (buy their own PCP car)
Live without a car (hand it back and do nothing)
Afford to buy a used car (hand the PCP car back and replace with a used car)


This could mean the cheapest option (in cash terms) is to buy a new car on PCP.



R.Sole

10,885 posts

158 months

Thursday 12th March
quotequote all
Wilmslowboy said:
There are some interesting dynamics at play with the new car mkt.

Millions of customers on PCP deals, who when they come to the end of their deal, will

Not be able to afford to pay the GFV (buy their own PCP car)
Live without a car (hand it back and do nothing)
Afford to buy a used car (hand the PCP car back and replace with a used car)


This could mean the cheapest option (in cash terms) is to buy a new car on PCP.
Exactly what PCP is designed to do!

CRA1G

3,895 posts

147 months

Thursday 12th March
quotequote all
I'm sure we'll see Dealers incentives with every car Sold..... FREE 24 months supply of Bog Rolls.... FREE fill up with Hand Sanitiser... FREE Deposit Scrappage schemes for all vehicles no longer required by the Elderly.... getmecoat

smartypants

43,387 posts

121 months

Thursday 12th March
quotequote all
hehe

One careful elderly lady owner. Fully sanitized.

Justin Case

1,253 posts

86 months

Thursday 12th March
quotequote all
Next to the other implications this isn't really important, what is potentially more worrying is that people may lose their jobs as a result of customers staying away

Nicks90

82 posts

6 months

Thursday 12th March
quotequote all
Well if all the old people die, there should be a flood of lexus and old mercs/jags coming to market as executors clear people's estates.

loskie

1,697 posts

72 months

Thursday 12th March
quotequote all
bargetastic

av185

10,392 posts

79 months

Thursday 12th March
quotequote all
The new car market will essentially grind to a halt resulting in a severe shortage of quality used stock.

This has been apparant through Jan Feb and March as quality used 3 year old cars have risen in value up to 10%.

To counteract this rise and going forward buyers will have less to spend and confidence will take a hit so broadly strong prices will be maintained and there won't be the bargains around some are hoping for.

As ever the best cars will command the best prices both mainstream and high end.