Will Coronavirus hit used car prices?
Discussion
Throttlebody said:
Butter Face said:
nickfrog said:
moonigan said:
Suffering a bit of FOMO as I see cars I was watching disappear. Just need to keep my nerve and wait.
Just listen to the wisdom of our resident Shaolin monk and wait until 2034 by which time the car you want will be worth £150.Sorry, October
Sorry, 6 months
Sorry, next summer
Etc etc
Here’s one you’ll like.
the-photographer said:
Accounting for inflation etc., isn't £2,500 by today's standards quite rubbish compared to the previous £2,000 offer?Also add in the EV revolution in the next 5-10 years...
Think the car industry needs a bit more than a scrappage scheme.
AndrewNR said:
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.
My BTL’s have had good growth over the years, but anything over a 40% drop would start putting me the wrong way on a couple.
limpsfield said:
I love this thread.
Also, haven't seen YOLO used for a few years - let's hope it makes a comeback.
Reminds me of Rolo’s, last time I bought them I left one for the other half and she moaned about me eating the rest. Also, haven't seen YOLO used for a few years - let's hope it makes a comeback.
Like this thread it shows some things can be lost on some people!
Hippea said:
I’ve been watching BMW M140i prices for a while and have noticed they have started to drop in the classifieds although are still strong money from BMW approved used.
This is the sort of car I thought would drop in price, lots of them, lots on finance.
I believe BMW did a leasing offer on these late 2017 so there should be quite a few hitting the market soon. This is the sort of car I thought would drop in price, lots of them, lots on finance.
I was looking at buying a new Shadow Edition in 2019 when they were £27k but was a bit late as the cars left had few options.
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.
Maybe... but maybe not... hindsight is always the judge, jury and executioner. Make a move and get it right, you’re a sharp operator. Get it wrong and you rushed in, gambled the farm on red and due to poor judgement lost the lot.
Sit tight and get it right.. you were a wise and shrewd operator that held your nerve whilst others around you were losing their heads. Get it wrong and you were a dinosaur that didn’t react fast enough to emerging trends and died.
Never forget that history is written by the victors etc.
Butter Face said:
nickfrog said:
moonigan said:
Suffering a bit of FOMO as I see cars I was watching disappear. Just need to keep my nerve and wait.
Just listen to the wisdom of our resident Shaolin monk and wait until 2034 by which time the car you want will be worth £150.Sorry, October
Sorry, 6 months
Sorry, next summer
Etc etc
... dead cat bounce, double dip, false positive....
I can imagine the buzzword bingo already...
Throttlebody said:
Toyoda said:
From my non scientific regular analysis of cars for sale at the price point I'm looking at (around the ten to twelve grand mark), there seems to have been quite a lot of activity since dealers reopened (i.e adverts disappeared due to sales/deposit taken/reservation). It may be early days but I think the doom mongers have got it pretty wrong. The 'pent up demand' many baulked at seems to be coming true!
The predictable post lockdown pent up demand won’t be sustained. Camelot1971 said:
Throttlebody said:
Toyoda said:
From my non scientific regular analysis of cars for sale at the price point I'm looking at (around the ten to twelve grand mark), there seems to have been quite a lot of activity since dealers reopened (i.e adverts disappeared due to sales/deposit taken/reservation). It may be early days but I think the doom mongers have got it pretty wrong. The 'pent up demand' many baulked at seems to be coming true!
The predictable post lockdown pent up demand won’t be sustained. Hes making a stand.
Camelot1971 said:
On a positive note, it's not like you need to worry yourself about contributing to that pent up demand.
He’s got a grand burning a hole in his pocket, just waiting for the right, undesirable-old-unreliable-about to cost a fortune to fix POS to ‘drop 40%’ and be in his budget 
moonigan said:
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.
Most manufacturers will honour any warranty if the car cannot be serviced due to the recent closures of service centres but nevertheless you can prove you attempted to book your car in.
Chancellor Rishi Sunak warned of a “severe recession, the likes of which we haven’t seen,”
Sunak, speaking to the House of Lords economic committee, said: “Although we have put unprecedented mitigating actions in place, I certainly won’t be able to protect every job and every business.
“We’re already seeing that in the data, and no doubt there will be more hardship to come. This lockdown is having a very significant impact on our economy.
“We are likely to face a severe recession, the likes of which we haven’t seen, and of course that will have an impact on employment.”
Soothsayers here responded: "But there will be no effect on used car prices."
Sunak, speaking to the House of Lords economic committee, said: “Although we have put unprecedented mitigating actions in place, I certainly won’t be able to protect every job and every business.
“We’re already seeing that in the data, and no doubt there will be more hardship to come. This lockdown is having a very significant impact on our economy.
“We are likely to face a severe recession, the likes of which we haven’t seen, and of course that will have an impact on employment.”
Soothsayers here responded: "But there will be no effect on used car prices."
South tdf said:
Hippea said:
I’ve been watching BMW M140i prices for a while and have noticed they have started to drop in the classifieds although are still strong money from BMW approved used.
This is the sort of car I thought would drop in price, lots of them, lots on finance.
I believe BMW did a leasing offer on these late 2017 so there should be quite a few hitting the market soon. This is the sort of car I thought would drop in price, lots of them, lots on finance.
I was looking at buying a new Shadow Edition in 2019 when they were £27k but was a bit late as the cars left had few options.
The AUC prices are certainly optimistic. When I was looking a year old car was more or less the sane price as a factory order.
Lots of the lease deals are billy basic though with only the boggo Nav etc.
Vroomer said:
Autotrader update:
432k trade cars for sale (huge drop - 50k cars)
34k private cars for sale (small increase)
Explanation?
Dealers selling cars, lowering stock holdings to keep cash flowing well.432k trade cars for sale (huge drop - 50k cars)
34k private cars for sale (small increase)
Explanation?
People who have bought new cars selling their knackered old ones.
Maybe. Just pent up demand innit.
Vroomer said:
Autotrader update:
432k trade cars for sale (huge drop - 50k cars)
34k private cars for sale (small increase)
Explanation?
As I stated a page or two ago, dealers are making a real effort to try and sell cars, and it may well be bearing fruit. Probably private sellers haven't got the resources to do that, so aren't selling any cars. 432k trade cars for sale (huge drop - 50k cars)
34k private cars for sale (small increase)
Explanation?
Other explanations may also be available
So I kept an eye on a couple of cars I was interested to buy in a month, and many seemed to disappear.
For example several decent BMw E92 335i s around 6k mark, some petrol Audi A4s, and just some decent cars around 5-6K range.
Is this the inital surge of people buying cars after traders open, or something else?
For like a scale here, there were 4-5 335i that I saw often for a while now, and 3 has disappeared at least, some nicer ones.
If it was discussed before sorry, but its not easy to keep up with this thread
Edit: pardon me, I should have only read the last couple of posts... anyways, I am kinda upset reading that deals are being made, as I am furloughed so I have to (more like really should) wait out until I get back to work to afford a nicer car
For example several decent BMw E92 335i s around 6k mark, some petrol Audi A4s, and just some decent cars around 5-6K range.
Is this the inital surge of people buying cars after traders open, or something else?
For like a scale here, there were 4-5 335i that I saw often for a while now, and 3 has disappeared at least, some nicer ones.
If it was discussed before sorry, but its not easy to keep up with this thread
Edit: pardon me, I should have only read the last couple of posts... anyways, I am kinda upset reading that deals are being made, as I am furloughed so I have to (more like really should) wait out until I get back to work to afford a nicer car
Edited by Nefos on Wednesday 3rd June 22:21
Vroomer said:
Chancellor Rishi Sunak warned of a “severe recession, the likes of which we haven’t seen,”
Sunak, speaking to the House of Lords economic committee, said: “Although we have put unprecedented mitigating actions in place, I certainly won’t be able to protect every job and every business.
“We’re already seeing that in the data, and no doubt there will be more hardship to come. This lockdown is having a very significant impact on our economy.
“We are likely to face a severe recession, the likes of which we haven’t seen, and of course that will have an impact on employment.”
Soothsayers here responded: "But there will be no effect on used car prices."
Stop revelling gleefully in other people's misery by confronting us with too much truth! REEEEEE!Sunak, speaking to the House of Lords economic committee, said: “Although we have put unprecedented mitigating actions in place, I certainly won’t be able to protect every job and every business.
“We’re already seeing that in the data, and no doubt there will be more hardship to come. This lockdown is having a very significant impact on our economy.
“We are likely to face a severe recession, the likes of which we haven’t seen, and of course that will have an impact on employment.”
Soothsayers here responded: "But there will be no effect on used car prices."
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