Will Coronavirus hit used car prices?
Discussion
From the beginning of lock down I have been monitoring prices of about 6 cars at 6 different garages across the southI fancy with no change in price ………..until yesterday when EVERY one has been discounted I assume ahead of the Monday morning rush.
No doubt if you're buying without a p/ex they might be a good deal but I bet any p/ex price is rubbish so no gain then.
It's a want rather than a need so I'll stick with what I've got as I have no idea as to my life style going forward post pandemic & what my new priorities will be. Hav a feeling that cars will become far less important as a indulgent hobby.
No doubt if you're buying without a p/ex they might be a good deal but I bet any p/ex price is rubbish so no gain then.
It's a want rather than a need so I'll stick with what I've got as I have no idea as to my life style going forward post pandemic & what my new priorities will be. Hav a feeling that cars will become far less important as a indulgent hobby.
Ryan_T said:
jimPH said:
A used M135i came up for £27500 the other day, £1500 cheaper than anywhere else on AT. Was snapped up quickly. Cheapest is £29k now, was 30+ a few weeks ago. I think this is fairly normal depreciation though.
But that’s more than a 140i or the same as an M2? Cheapest one currently...
https://www.autotrader.co.uk/classified/advert/202...
Scootersp said:
Is anyone tracking autotrader ad volumes private versus trade.(35,634 - 486,371)
To deduce anything from tracking those stats going forward you would first have to know the past data and how it varies according to seasons etc.Scootersp said:
Pick any car and there's a natural churn depending on a host of factors, if the time from advert to sale increases significantly it'll put pressure on a drop. I bet there are some makes and models (Bentley Continental topic) that have barely any buyers actively looking for them, we are used to selling are cars reasonably easily but some may really struggle to find a buyer at almost any price, or certainyl at any price much above the lowest 'not complete wreck'?
We had a couple of Continentals, a GT and a GTC,priced around £30000, in stock since the beginning of the year. We review prices weekly and adjust ( up sometimes, as well as down ) to ensure that we are competitive. Had barely a single firm enquiry on either before the lockdown. Had several enquiries and sold them both in MayjimPH said:
A used M135i came up for £27500 the other day, £1500 cheaper than anywhere else on AT. Was snapped up quickly. Cheapest is £29k now, was 30+ a few weeks ago. I think this is fairly normal depreciation though.
I hadnt been tracking those, but now that you mention it i must keep an eye on them. 
BrabusMog said:
Throttlebody said:
A bit like people that think they get a PCP deposit back at the end of term.
Who thinks they're getting their PCP initial payment back 
In regards trade prices, there is still strong online bidding which looks real and following the stock trends I have previously mentioned over the past few weeks.
Only last week I mentioned my private car to a trader and within 24 hours It was being collected for what I thought was retail.
Only last week I mentioned my private car to a trader and within 24 hours It was being collected for what I thought was retail.
Scootersp said:
Is anyone tracking autotrader ad volumes private versus trade.(35,634 - 486,371)
I think that might give some early pointers (especially the private sales), numbers increasing a lot will indicate some attempts at selling off and/or reduced demand and potentially mean over the weeks that pass the most desperate might be forced to reduce the prices, at present with the support and dealers holding firm I can't see why anyone would go too low yet?
if they do end up dropping I'd argue it wouldn't be showing it's head much yet? A lot depends on the public's mood, while there are varying opinions on here, it would seem that not many are shifting their plans to take up buying a car it's seems more status quo/sitting on your hands at best? There could just be a real stagnation of transactions.
If people on mass just keep what they have, and perhaps decide to go semi shed after a pcp/lease ends etc then at some point main dealers or, independents or private people will 'crack' and you may get a sliding of prices.
Pick any car and there's a natural churn depending on a host of factors, if the time from advert to sale increases significantly it'll put pressure on a drop. I bet there are some makes and models (Bentley Continental topic) that have barely any buyers actively looking for them, we are used to selling are cars reasonably easily but some may really struggle to find a buyer at almost any price, or certainyl at any price much above the lowest 'not complete wreck'?
I don't think you've been following this thread carefully – I regularly post Autotrader updates.I think that might give some early pointers (especially the private sales), numbers increasing a lot will indicate some attempts at selling off and/or reduced demand and potentially mean over the weeks that pass the most desperate might be forced to reduce the prices, at present with the support and dealers holding firm I can't see why anyone would go too low yet?
if they do end up dropping I'd argue it wouldn't be showing it's head much yet? A lot depends on the public's mood, while there are varying opinions on here, it would seem that not many are shifting their plans to take up buying a car it's seems more status quo/sitting on your hands at best? There could just be a real stagnation of transactions.
If people on mass just keep what they have, and perhaps decide to go semi shed after a pcp/lease ends etc then at some point main dealers or, independents or private people will 'crack' and you may get a sliding of prices.
Pick any car and there's a natural churn depending on a host of factors, if the time from advert to sale increases significantly it'll put pressure on a drop. I bet there are some makes and models (Bentley Continental topic) that have barely any buyers actively looking for them, we are used to selling are cars reasonably easily but some may really struggle to find a buyer at almost any price, or certainyl at any price much above the lowest 'not complete wreck'?
Vroomer said:
I don't think you've been following this thread carefully – I regularly post Autotrader updates.
I had seen the odd post but it's hard to trawl through a 200+ page thread to find them!? And we aren't going to remember them either are we?Are you just doing this when you post, or are you actually keeping a track daily/weekly?
Scootersp said:
Vroomer said:
I don't think you've been following this thread carefully – I regularly post Autotrader updates.
I had seen the odd post but it's hard to trawl through a 200+ page thread to find them!? And we aren't going to remember them either are we?Are you just doing this when you post, or are you actually keeping a track daily/weekly?
Inky81 said:
Scootersp said:
Vroomer said:
I don't think you've been following this thread carefully – I regularly post Autotrader updates.
I had seen the odd post but it's hard to trawl through a 200+ page thread to find them!? And we aren't going to remember them either are we?Are you just doing this when you post, or are you actually keeping a track daily/weekly?
HTP99 said:
It's the way it can be (mis) sold, same with when I started selling, customers thought that they'd get the GFV (Guaranteed Future Value) as it was termed back then, as a lump sum back when coming to the end of their agreement.
A few years back I took the then GF to look at new Minis. She liked the look of them, so we sat with a sales child and were asked about the deposit we wanted to put down, given a px value and a monthly over 3 years. My ex was smitten, just over £200 a month for 3 years got her the Mini. I did some quick maths and realised the apparent good deal was a bit short of the sticker price for the car. But the final payment/GFV was only mentioned after I asked. So I can easily see how people would sign something without really understanding it.
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