Will Coronavirus hit used car prices?
Discussion
Let's have some facts for a change. Yesterday and today my wife and I went to look at used cars at franchised dealers (Peugeot and Kia) and in both the procedure was the same, make an appointment, sanitisers and screens in front of desk, cars deep cleaned and unaccompanied test drives after proof of ID (driving licence). We would have made appointments in any case to make sure that the cars were still available and ready for us to look over, which meant no messing about when we turned up. I think that that system works well and even without the covid precautions it is by far the best way to buy a car. I can't say much for prices as she had only been looking seriously for a couple of days but the Kia dealers had sold quite a few cars, both new and used, so there appears to be a pent up demand, at least in the short term.
VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
100%. Justin Case said:
so there appears to be a pent up demand, at least in the short term.
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
Then.....VonSenger said:
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.
Butter Face said:
VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
Then.....VonSenger said:
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.
Its going to be a long tough road ahead - there should be no illusion about that. We had been due a recession after 10 or so years of growth after 2008 credit crunch. This has just been the excuse the economy needed to collapse.
Put my 2017 Mercedes C Class on for sale this week has just 8k on the clock and not a single call so far on auto trader. Not even a tyre kicker making a silly offer! Thought I priced it well but seems like there is lack of market..
Put my 2017 Mercedes C Class on for sale this week has just 8k on the clock and not a single call so far on auto trader. Not even a tyre kicker making a silly offer! Thought I priced it well but seems like there is lack of market..
Auto810graphy said:
fridaypassion said:
Arriving on a bike with socks/sandals/notebook and a tape measure? Might as well not even bother.
We have a mid 30s chap that looks at our cars every now and again who matches this description.Over the past few years he had been to look several cars as he’s local but did not buy. Last time was a really cheap Dacia Sandero, he checked his bike fitted, noted tyre depths and lots of other stuff, said he was buying but last we heard he was asking his mum to borrow some money (serious).
He was on the phone Monday wanting to look at a 1 Series. Was politely told him we would need a holding deposit to view and he told us he would take his custom elsewhere.
SixSixtyFive said:
Auto810graphy said:
fridaypassion said:
Arriving on a bike with socks/sandals/notebook and a tape measure? Might as well not even bother.
We have a mid 30s chap that looks at our cars every now and again who matches this description.Over the past few years he had been to look several cars as he’s local but did not buy. Last time was a really cheap Dacia Sandero, he checked his bike fitted, noted tyre depths and lots of other stuff, said he was buying but last we heard he was asking his mum to borrow some money (serious).
He was on the phone Monday wanting to look at a 1 Series. Was politely told him we would need a holding deposit to view and he told us he would take his custom elsewhere.
VonSenger said:
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.
Bang on there. That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
VonSenger said:
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.
If all the economists in the world were laid end to end, they still wouldn't reach a conclusion.jgrewal said:
Its going to be a long tough road ahead - there should be no illusion about that. We had been due a recession after 10 or so years of growth after 2008 credit crunch. This has just been the excuse the economy needed to collapse.
Put my 2017 Mercedes C Class on for sale this week has just 8k on the clock and not a single call so far on auto trader. Not even a tyre kicker making a silly offer! Thought I priced it well but seems like there is lack of market..
A tricky one to sell privately as people in that market will generally have a trade in and want finance.Put my 2017 Mercedes C Class on for sale this week has just 8k on the clock and not a single call so far on auto trader. Not even a tyre kicker making a silly offer! Thought I priced it well but seems like there is lack of market..
Also, A/T is not the place it once was for expensive private sales.
And if your car isnt £1,000+ lower than all the dealer cars, theres going to be little incentive for people to bother.
Although you'll get a lot of "Is this still available?" messages, Facebook marketplace is surprisingly good these days for private sales. I sold a £16,000 year old Cooper S for the asking price from it last year, and a £9000 Focus ST also went a few months ago with no issues.
Assuming the spec and colour combo is right, price is key, but at that likely price point it may be a bit of a waiting game no matter where you advertise it.
VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
Throttlebody said:
Bang on there.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
Throttlebody said:
VonSenger said:
Compounded by the pending mass redundancies and liquidation. Others will pretend this isn't coming. There will be no V recovery, do not be fooled by the QE and Furlough honeymoon we are currently experiencing.
Bang on there. That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
You mean like "Heres an example of how bad the market is as theres 30% off this Jaguar" or "when the dealers reopen they'll be begging people to take the cars off them at any price as the dealership burns down behind them"?
Theres a better chance of your getting paid for your entertainment value...
Anyways, Oh Wise One - you never did give us your prediction for June sales? you've been dancing around it?
Edited by Deep Thought on Sunday 7th June 19:33
Butter Face said:
VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
Throttlebody said:
Bang on there.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
Deep Thought said:
Butter Face said:
VonSenger said:
Do not seek financial advice on PH! Go see a professional advisor. There's a great example of this on the Porsche section at the moment, complete plonker giving out daft advice as gospel. Dangerous and irresponsible. You need to find someone that actually gets paid to do it, as opposed to people having a nibble and getting lucky every now and then giving investment advice. Especially if its your pension!
Throttlebody said:
Bang on there.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
That sort of advice and the general quality and analysis I also provide should be on commission really. I do it as a way of giving back, charitable, a free educational facility.
Look at you two, you can’t even read each other’s posts.So said:
av185 said:
The very fact that GDP drops could well mean used car prices rise as we are currently seeing across all sectors atm.
The rises you are seeing at the moment are short-term supply and demand aberrations. It won't continue.Gassing Station | General Gassing | Top of Page | What's New | My Stuff