Will Coronavirus hit used car prices?

[Deep Thought]

tinyboytim said:

Deep Thought said:

MONTHLY - do you purposely keep missing that word?

I'm not the one who thinks the entire country is going to crash and burn and is scrabbling around to find evidence to support it. Maybe its you who needs to relax a little?

What is your problem? I am changing nothing. I am copying and pasting. Wow you need to step away from the keyboard. Keyboard rage. What a loser you really are.

Keyboard rage?

I'm not the one whos had to refer to name calling (twice now) to make my point.

[Deep Thought]

tinyboytim said:

Deep Thought said:

MONTHLY - do you purposely keep missing that word?

I'm not the one who thinks the entire country is going to crash and burn and is scrabbling around to find evidence to support it. Maybe its you who needs to relax a little?

What is your problem? I am changing nothing. I am copying and pasting. Wow you need to step away from the keyboard. Keyboard rage. What a loser you really are.

My "problem" is you keep missing the word monthly.

Does it come as a big surprise to you that we saw a monthly drop in May?

[J4CKO]

Very anecdotal, but some stuff may be moving (or getting taken off sale I guess) been looking at M4's and there were over 750 on AT a couple of weeks back, now down to 700.

[tinyboytim]

Deep Thought said:

My "problem" is you keep missing the word monthly.

Does it come as a big surprise to you that we saw a monthly drop in May?

I think you have more than 1 'problem'. I won't hold my breath for an apology for your continued insistence that I altered the script. I am not as desperate as you for validation.

[Deep Thought]

tinyboytim said:

I think you have more than 1 'problem'. I won't hold my breath for an apology for your continued insistence that I altered the script. I am not as desperate as you for validation.

So you quoted a story with a clickbait headline.



What validation are you expecting for doing that?

Are you accepting the truth of it refers to "monthly"?

Edited by Deep Thought on Tuesday 2nd June 10:54

[tinyboytim]

Deep Thought said:

I'll sell it some day when i want to. I bought it on a whim and i'll set it on a whim when the mood takes me. Just like i do with most of my cars. Sorry if in your world its a big event.

Edited by Deep Thought on Tuesday 2nd June 10:25

I am actually interested in your unique sales technique? Could you just run me through it one more time, as I got a little confused as to when to cease all communication with a prospective buyer? Is the exchange of emails valid, or should I use a 'burner' phone? And at which point would you suggest 'ghosting' them? If they are on the way to a viewing, is that to much?
Cheers in advance.

[Deep Thought]

tinyboytim said:

I am actually interested in your unique sales technique? Could you just run me through it one more time, as I got a little confused as to when to cease all communication with a prospective buyer? Is the exchange of emails valid, or should I use a 'burner' phone? And at which point would you suggest 'ghosting' them? If they are on the way to a viewing, is that to much?
Cheers in advance.

I didnt cease communication with anyone.

4 people contacted me within the 24 hours it went on sale.

• 2 were "is this available", i replied yes, no further update.
• Third asked for further detail, to which i replied, didnt come back to me RE: coming out to see it or taking it further.
• Fourth person asked detail, i replied, proposed coming out, i thought about it further and then replied saying i've changed my mind about selling it in the meantime and apologised.

I took the advert down.

I was genuinely surprised by the level of interest as i expected it to be a slow burner taking several months to generate any interest.

If you want i'll forward him compentsation for the several minutes of lost time he had typing out the couple of messages - not that he seemed at all bothered.

Edited by Deep Thought on Tuesday 2nd June 12:14

[the-photographer]

https://uk.reuters.com/article/us-health-coronavir...

LONDON (Reuters) - Britain’s house prices fell by the most in more than 11 years in May as the coronavirus crisis hammered the market, mortgage lender Nationwide said on Tuesday.

[anonymous-user]

UK savings went up the most on record in March and April with an increase in savings in UK banks of £30 Billion. Records start in 1997.

Two things could come from this.

1 people go on a spending spree as lockdown rules allow more shopping opportunity

2 people continue to save and not spend until it becomes clearer how hard the deepest recession in 300 years is going to hit them.

2 is far more likely IMHO and even if their personal situation looks OK, the impact of the job losses post furlough tapering is going to spook them into continuing to save.

Another factor is habit breaking. Once people get used to saving money and not spending every penny they earn, they tend to continue to do that. There will also be a huge chunk of people who for the first time in their lives have slowed down rather than chase the £ to pay for a lifestyle that on reflection is a load of flannel.

It's going to be interesting to watch if we really will see a big shift in priorities for people now they have had time to decompress from work and spend more time with their kids.

[tinyboytim]

the-photographer said:

https://uk.reuters.com/article/us-health-coronavir...

LONDON (Reuters) - Britain’s house prices fell by the most in more than 11 years in May as the coronavirus crisis hammered the market, mortgage lender Nationwide said on Tuesday.

Be very careful directly quoting the major news outlets in case you know who gets his knickers in a twist that it doesn't suit his narrative. And he will start making false accusations of censorship, even though he fails to see the irony of his own false representations, he makes in his own life.
You have been warned ;-)

[SpeckledJim]

There's going to be a widespread opening of eyes to what life is really about.

Loads of people will be deciding/realising that they hate their jobs, and forming plans to not go back/go back on different terms.

Loads of people will realise that they've been working so very hard for the last 10% that they really don't need. Covid-19 has foisted a fascinating social experiment upon us. There will be some good PhD theses out of this.

[eliot]

jsf said:

UK savings went up the most on record in March and April with an increase in savings in UK banks of £30 Billion. Records start in 1997.

Two things could come from this.

1 people go on a spending spree as lockdown rules allow more shopping opportunity

2 people continue to save and not spend until it becomes clearer how hard the deepest recession in 300 years is going to hit them.

2 is far more likely IMHO and even if their personal situation looks OK, the impact of the job losses post furlough tapering is going to spook them into continuing to save.

Another factor is habit breaking. Once people get used to saving money and not spending every penny they earn, they tend to continue to do that. There will also be a huge chunk of people who for the first time in their lives have slowed down rather than chase the £ to pay for a lifestyle that on reflection is a load of flannel.

It's going to be interesting to watch if we really will see a big shift in priorities for people now they have had time to decompress from work and spend more time with their kids.

I’ve saving pretty substantial amounts of money every month at the moment- the rainy day fund past 6 months salary and could last a year if i needed it to - this despite having a temporary paycut enforced on me and the wife being out of work as well.

[anonymous-user]

SpeckledJim said:

There's going to be a widespread opening of eyes to what life is really about.

Loads of people will be deciding/realising that they hate their jobs, and forming plans to not go back/go back on different terms.

Loads of people will realise that they've been working so very hard for the last 10% that they really don't need. Covid-19 has foisted a fascinating social experiment upon us. There will be some good PhD theses out of this.

Indeed, my brother has 3 young kids, this is the first time he has been able to see them for more than 30 minutes/ day on a work day because of his long work hours and commute into London.

[CS Garth]

I think behaviours will return to normal quicker than we think.

There will be job losses which are regrettable but we must also beware the learning of false lessons.

It’s easy to say “everything has changed for good”. Some things have, some haven’t in my opinion.

[J4CKO]

jsf said:

how hard the deepest recession in 300 years is going to hit them.

Worse than two world wars ?

[Vroomer]

Deep Thought said:

Vroomer said:

There's a very old joke about antique dealers:

Two antiques dealers were marooned together on an island...

...business was brisk!


Does the same apply to car dealers?

I havent been a motor trader for around 7 years.

What part of the information i gave - like the information i gave last Monday - was not objective?

I even said i didnt gather enough final prices to give any sort of trend.

I guess i could have found some ropey old Jag that the owner was still looking x2 its value for and cited it as example of how the market had dropped 30%?

You've taken this personally – not intended!

The point I was making is that dealers buying stock at auction is a trade-to-trade sale. We are still waiting for consumer behaviour to settle down once 'pent up desire' has been satisfied!

[kambites]

J4CKO said:

jsf said:

how hard the deepest recession in 300 years is going to hit them.

Worse than two world wars ?

I suspect you could come up with a metric by which it will be. Before the wars our economy wasn't artificially inflated by huge levels consumer debt and immediately after both wars we had a population willing to make significant personal sacrifices to get devistated public infrastructure and industries back up and running. I don't see COVID19 generating the same sort of lurch to the left that allowed society to recover after the wars.

I guess no-one really knows, none the least because an awful lot of it is going to come down to the government's willingness or otherwise to make significant tax rises.

Edited by kambites on Tuesday 2nd June 13:07

[Court_S]

CS Garth said:

I think behaviours will return to normal quicker than we think.

There will be job losses which are regrettable but we must also beware the learning of false lessons.

It’s easy to say “everything has changed for good”. Some things have, some haven’t in my opinion.

I do too. Look at the queues to get into Ikea yesterday. Do people really need tea lights and meatballs that much?

We’ll get a better picture later in the month when more shops open, but it does seem like there is pent up demand to get back to buying stuff just because.

[Venisonpie]

Feedback from an auction last night - I had a Ford Kuga entered which was CAP average condition at best. CAP average price (which I believe is still at pre covid pricing) was £4500, it achieved £4700.

So not mega but solid.

[anonymous-user]

J4CKO said:

jsf said:

how hard the deepest recession in 300 years is going to hit them.

Worse than two world wars ?

Easily.

Unlike in WW2 in particular, we haven't bombed each others infrastructure into the ground, so we wont have the spend on rebuild to drive growth.

This is why fiscal stimulus and major government funded projects are going to be key drivers to recovery.

The other driver for 30 years of post WW2 growth was they targeted full employment as a reaction to what drove fascism pre WW2. That was abandoned in the 70's as it crowded out investment and drove inflation. They wont repeat that experiment as the 1% are far too politically powerful now.