Will Coronavirus hit used car prices?
Discussion
J4CKO said:
Well, arent you a joy,
What are furloughed people meant to do, sit in their kitchen with their head in their hands worrying about the future they cant do a great deal about ?
So, some folk get an unexpected holiday, but have probably worked years and years with 20 days a year off.
And, all tempered with the fact that they may catch a nasty virus and drop dead, unlikely but possible.
May as well make the best of it where possible/within guidelines.
Imagine you're on minimum wage and working throughout this period and seeing parks full of people getting paid a decent amount of money for doing nothing and choosing to piss about having a laugh for months on end. Or you've had relatives that have died. In this light I don't think it's unreasonable to view YOLOers behaviour as being in poor taste.What are furloughed people meant to do, sit in their kitchen with their head in their hands worrying about the future they cant do a great deal about ?
So, some folk get an unexpected holiday, but have probably worked years and years with 20 days a year off.
And, all tempered with the fact that they may catch a nasty virus and drop dead, unlikely but possible.
May as well make the best of it where possible/within guidelines.
growlerowl said:
J4CKO said:
Well, arent you a joy,
What are furloughed people meant to do, sit in their kitchen with their head in their hands worrying about the future they cant do a great deal about ?
So, some folk get an unexpected holiday, but have probably worked years and years with 20 days a year off.
And, all tempered with the fact that they may catch a nasty virus and drop dead, unlikely but possible.
May as well make the best of it where possible/within guidelines.
Imagine you're on minimum wage and working throughout this period and seeing parks full of people getting paid a decent amount of money for doing nothing and choosing to piss about having a laugh for months on end. Or you've had relatives that have died. In this light I don't think it's unreasonable to view YOLOers behaviour as being in poor taste.What are furloughed people meant to do, sit in their kitchen with their head in their hands worrying about the future they cant do a great deal about ?
So, some folk get an unexpected holiday, but have probably worked years and years with 20 days a year off.
And, all tempered with the fact that they may catch a nasty virus and drop dead, unlikely but possible.
May as well make the best of it where possible/within guidelines.
Life can be short and brutal, enjoy it whilst you can, with the caveat that it shouldnt adversely affect anyone else.
I dont finish work and think, better not have a beer in the sun because someones gran has died of CV19 or someone else is still working, its the luck of the draw and if you pile the weight of the world on your shoulders you will never enjoy anything. Like when you go on holiday in normal times, people are still emptying bins and stuff.
Luck of the draw, and a lot of folk will be made redundant, talked to my old boss from where I got made redundant from 2 years ago, he has just been let go.
During the last recession I was coining it in, pay rises each year, decent bonus, loads of travel, expenses largely unchecked, all the while when everyone else was feeling the pinch, then in 2018 most of us got made redundant as the Oil and Gas market was on its arse, and a lot of other industries were thriving.
Sometimes you are up, sometimes you are down, thats life.
J4CKO said:
Or any other of the whole gamut of possible situations.
Life can be short and brutal, enjoy it whilst you can, with the caveat that it shouldnt adversely affect anyone else.
I dont finish work and think, better not have a beer in the sun because someones gran has died of CV19 or someone else is still working, its the luck of the draw and if you pile the weight of the world on your shoulders you will never enjoy anything. Like when you go on holiday in normal times, people are still emptying bins and stuff.
Luck of the draw, and a lot of folk will be made redundant, talked to my old boss from where I got made redundant from 2 years ago, he has just been let go.
During the last recession I was coining it in, pay rises each year, decent bonus, loads of travel, expenses largely unchecked, all the while when everyone else was feeling the pinch, then in 2018 most of us got made redundant as the Oil and Gas market was on its arse, and a lot of other industries were thriving.
Sometimes you are up, sometimes you are down, thats life.
+1Life can be short and brutal, enjoy it whilst you can, with the caveat that it shouldnt adversely affect anyone else.
I dont finish work and think, better not have a beer in the sun because someones gran has died of CV19 or someone else is still working, its the luck of the draw and if you pile the weight of the world on your shoulders you will never enjoy anything. Like when you go on holiday in normal times, people are still emptying bins and stuff.
Luck of the draw, and a lot of folk will be made redundant, talked to my old boss from where I got made redundant from 2 years ago, he has just been let go.
During the last recession I was coining it in, pay rises each year, decent bonus, loads of travel, expenses largely unchecked, all the while when everyone else was feeling the pinch, then in 2018 most of us got made redundant as the Oil and Gas market was on its arse, and a lot of other industries were thriving.
Sometimes you are up, sometimes you are down, thats life.
Well summarised
growlerowl said:
Imagine you're on minimum wage and working throughout this period and seeing parks full of people getting paid a decent amount of money for doing nothing and choosing to piss about having a laugh for months on end. Or you've had relatives that have died. In this light I don't think it's unreasonable to view YOLOers behaviour as being in poor taste.
Thats a bit of a stretch.I've got twin brothers... ones furloughed and one isn't. Should the furloughed one need to promise not to have any fun that day while the other goes to work
Deesee said:
The banks are still geared up for 50% reductions in pricing, its no biggie for them to see pricing drop, interest rate rises (highly highly very unlikely) are the danger in the long term (20+ yrs).
I can't imagine the Government allowing £250k homes to become £125k.Would be too easy for people to live comfortably and not have to work their nuts off to stay a float month-to-month and have to chase 25/30 year mortgage deals to make the banks £££?
Surely it's in the Government's interest (stamp duty - although they could change it) and banks (long mortgage deals - unless interest rates rise substantially) to maintain house prices - possibly by another HTB scheme.
I would imagine these would be snapped up by the wrong types of people too i.e. investors whom have the cash.
Either way, I've got a bit of cash knocking about, be nice to get a half price 100k house.
J4CKO said:
Or any other of the whole gamut of possible situations.
Exactly.The problem, as illustrated in this thread, is that the brain is hard wired to think in 2s (fight/flight, black/white, on/off, left/right, "we're screwed" / "you're delusional", credit junkies/shed buyers).
Few make the step to think in 3s as it's counter intituitive and harder work. But when they do, then end up finding a 4th, a 5th, a 6th alternative and this is what create opportunities rather than bitterness that drags everyone down.
It doesn't take a psychiatrist to understand the above btw.
Edited by nickfrog on Wednesday 3rd June 13:48
Deep Thought said:
Throttlebody said:
The real sharp operators look and read the market direction, plan and forecast ahead. They are realists that see risk. The less capable tend to rely on historic data, avoid taking a position on the future, prefer to remain comfortable, like to use hindsight and take no risk.
The difficulty currently is - noone knows. Big retailers have no idea how this will all look in the new normal. Factor in also that its an evolving situation too. Take say, a chocolate manufacturer - you probably every other year would be preparing to ramp up for your christmas offering of selection boxes, chocolates, etc - all those raw ingredient orders will need committed to. How do you plan for that this year? What if we're not allowed to visit each others homes then? What if we ARE and you planned otherwise based on data today?
Edited by Deep Thought on Wednesday 3rd June 10:45
growlerowl said:
Imagine you're on minimum wage and working throughout this period and seeing parks full of people getting paid a decent amount of money for doing nothing and choosing to piss about having a laugh for months on end. Or you've had relatives that have died. In this light I don't think it's unreasonable to view YOLOers behaviour as being in poor taste.
I love this thread.Also, haven't seen YOLO used for a few years - let's hope it makes a comeback.
Auto810graphy said:
Flat out busy today, I have no idea where all these people are coming from but we probably took more orders today than any day so far this year.
Talking with several main dealers they have also been very busy. At least 3 Land Rover dealers were to busy to even phone back so back to normal for them. The biggest problem is nobody expected this and most dealerships seem to have limited staff.
In reality I am not counting on this continuing but hopefully it is a positive sign that has individuals and businesses want to keep the tills ringing!
Not sales but tried booking my RRS in for a service (got cancelled during lockdown) and have to wait for someone to contact me back but apparently won't be for at least 2 weeks til a slot is available Talking with several main dealers they have also been very busy. At least 3 Land Rover dealers were to busy to even phone back so back to normal for them. The biggest problem is nobody expected this and most dealerships seem to have limited staff.
In reality I am not counting on this continuing but hopefully it is a positive sign that has individuals and businesses want to keep the tills ringing!
This was at Guy Salmon in Ascot. I know I could book online but at the mo just want human to confirm it!
Edited by BrabusMog on Wednesday 3rd June 13:54
Algarve said:
Thats a bit of a stretch.
I've got twin brothers... ones furloughed and one isn't. Should the furloughed one need to promise not to have any fun that day while the other goes to work
And yet if I look forward to a Coronavirus bargain vehicle then according to people on here it makes me a vulture, gleeful, revelling in others' misery etc etc etc. I suppose I should pay full pre-CV whack out of charity to the poor, long suffering car dealers and promise not to upset the poor dears with my distasteful behaviour.I've got twin brothers... ones furloughed and one isn't. Should the furloughed one need to promise not to have any fun that day while the other goes to work
No contradiction there of course. No. None whatsoever
Well, now we will soon see. The standard answer was “Don’t know, there is no market”. Hence, lots of outlets have just held prices frozen . Stock is older, but mileage the same. I doubt if there will be a major fall in prices, although cost to change is all that affects the buyer, and I bet that when this virus wears itself out we will be back to near normal People have short memories.
growlerowl said:
And yet if I look forward to a Coronavirus bargain vehicle then according to people on here it makes me a vulture, gleeful, revelling in others' misery etc etc etc. I suppose I should pay full pre-CV whack out of charity to the poor, long suffering car dealers and promise not to upset the poor dears with my distasteful behaviour.
No contradiction there of course. No. None whatsoever
I can't remember anyone ever criticising you for wanting to bag a bargain. Could you quote please?No contradiction there of course. No. None whatsoever
Another nice couple of strawman arguments though.
milfordkong said:
Yeah I think all the doom mongering is utterly pointless.
We all know people like this though, they’ll predict the absolute worst no matter what and in any situation all under the masquerade of ‘realism’. When it’s quite obvious that it’s really for the simple reason that in the unlikely event that they do turn out to be right and everything turns to a huge steaming pile of s
t then they get the smug satisfaction of saying to themselves and to everybody else ‘told you so’.
This is why short sellers are hated by the majority of the market. There is danger to your employment chances if you go against the majority, even when the majority are wrong. If you get the call wrong you lose your job, if you get the call right, everyone loses their job including you anyway. This is why sucessful short sellers always work in very small groups, the perfect example of this was during the GFC where the smart guys shorted the USA housing market and made billions. You tend to get the best resuts from short selling by spending long periods of time on serious research into the market or business, people like Fahmi Quadir do this.We all know people like this though, they’ll predict the absolute worst no matter what and in any situation all under the masquerade of ‘realism’. When it’s quite obvious that it’s really for the simple reason that in the unlikely event that they do turn out to be right and everything turns to a huge steaming pile of s
t then they get the smug satisfaction of saying to themselves and to everybody else ‘told you so’.BrabusMog said:
Not sales but tried booking my RRS in for a service (got cancelled during lockdown) and have to wait for someone to contact me back but apparently won't be for at least 2 weeks til a slot is available This was at Guy Salmon in Ascot.
I know I could book online but at the mo just want human to confirm it!
My Audi needs a service and I get there will be delays but I've sent an e-mail to the dealership to confirm availablity as my car is on a PCP and the whilst I've not read the terms and conditions word for word I'm pretty certain one of the conditions will be that the car is serviced at the required intervals and I dont want them throwing it back at me in two years time when the contract ends. My e-mail serves as proof that I attempted to get the car serviced on time. This was at Guy Salmon in Ascot. I know I could book online but at the mo just want human to confirm it!
Edited by BrabusMog on Wednesday 3rd June 13:54
Joey Deacon said:
Salmonofdoubt said:
UK car industry pushes for scrappage scheme to help buy new petrol and diesel vehicles
https://www.theguardian.com/business/2020/jun/03/u...
Don't scrappage schemes just serve to take good serviceable cars off the roads?
Yes, and last time it didn't really help the UK car industry as most people ended up getting a Hyundai i10 as it was about £5500 once the £2K scrappage allowance was added in. https://www.theguardian.com/business/2020/jun/03/u...
Don't scrappage schemes just serve to take good serviceable cars off the roads?
I remember the fields of very interesting metal sitting waiting to be scrapped. That's what's probably inflated the modern classic scene and why folk want mega money for cars once commonplace.
Throttlebody said:
Deep Thought said:
Throttlebody said:
The real sharp operators look and read the market direction, plan and forecast ahead. They are realists that see risk. The less capable tend to rely on historic data, avoid taking a position on the future, prefer to remain comfortable, like to use hindsight and take no risk.
The difficulty currently is - noone knows. Big retailers have no idea how this will all look in the new normal. Factor in also that its an evolving situation too. Take say, a chocolate manufacturer - you probably every other year would be preparing to ramp up for your christmas offering of selection boxes, chocolates, etc - all those raw ingredient orders will need committed to. How do you plan for that this year? What if we're not allowed to visit each others homes then? What if we ARE and you planned otherwise based on data today?
Edited by Deep Thought on Wednesday 3rd June 10:45
Nor can they not take a position on how the future might look - doing nothing is not an option.
What makes you think its fictitious by the way? I know for a fact those sorts of questions are being posed and not just in that sector.
As NickF has been saying - its a matter of breaking out of the binary thinking mode - its not a matter of "reading the market direction" OR doing nothing. There are many options in between.
Edited by Deep Thought on Wednesday 3rd June 14:22
nickfrog said:
Quite frankly I am far more concerned about FTSE overheating/overrevving over the past month than by the car market or used car values.
It's all being backstopped by the central banks which is why the fall stopped and a steady climb back occurred, there is a complete disconnect between the stock value of the major corporations and the real economy. This disconnect will continue because it's been underwritten, it's a very basic gaming of the system the banks used in 2008 and now the equities market are getting their fill.Gassing Station | General Gassing | Top of Page | What's New | My Stuff