Will Coronavirus hit used car prices?

[Welshbeef]

Welshbeef said:

paddy1970 said:

Ok...it seems that the prices are now going up by 0.9% this week

Edited by paddy1970 on Monday 8th June 09:19

What is the spec of the 16 Reg C63 you list there? Is it Black book prices or screen prices?
Mine is tiny mileage full loaded and an estate yet these values are MORE/similar to what I paid for mine in Sept19?

Struggling to see how I can get 5k miles an extra owner more consumables wear and 9 months older = same price.

Sorry make that £3,5k MORE??

[Court_S]

maz8062 said:

To compound this and based on anecdotal evidence, some dealership are not allowing prospective buyers to even touch cars never mind take the car for a test drive. There is such a rigamarole to disinfect cars, social distancing and the like that some dealers are only interested in those where there is a high likelihood of a sale.

If the show room experience becomes too much hassle, the new normal will be online purchasing, PlayStation type test drives etc.

Equally that may backfire a wee bit; chap on another forum is looking for an M140i, found one he liked the look of but was told in no uncertain terms that he could only drive it after he’d bought it. On a used car that seems a bit counter intuitive. He’s walked and is on the look out still.

No way would I buy a used car without driving / having a good look around it first.

[Welshbeef]

Court_S said:

Equally that may backfire a wee bit; chap on another forum is looking for an M140i, found one he liked the look of but was told in no uncertain terms that he could only drive it after he’d bought it. On a used car that seems a bit counter intuitive. He’s walked and is on the look out still.

No way would I buy a used car without driving / having a good look around it first.

Second biggest cost you’ll ever have after buying a house and no ability to drive it no thanks.

[HTP99]

Deep Thought said:

donutsina911 said:

Dropped into my inbox this morning courtesy of Google's Automotive team:

https://www.thinkwithgoogle.com/intl/en-gb/marketi...

Headlines:

1. People are finding comfort in car ownership
2. Financial uncertainty is having an increasing impact on car buying
3. People want the dealer experience from their home
4. People want online car buying and at-home delivery
5. People are tuning in to digital events

I think 3 & 4 are so last month, personally.

Yep, agree, as has been proven from the moment the showrooms have opened, people may enquire online however they still want to feel touch and experience the product.

The first online enquiry that I dealt with on Monday 1st was for a used Sandero, guy was purchasing it for his company, I answered every question, even telling him that the discrepancy in the servicing was as a result of the car being off the road for several months awaiting a starter motor due to a Europe wide faulty batch, even told him of 3 minor chips on the rear bumper which I'd touch in.

He made all the right noises, "do it for this and I'll transfer the money today and can you deliver it", his opening gambit was offering £5k on a well priced £6200 car!

Told him £6k is final offer and we'll deliver Friday, he then went from "transfer today" to making an appt to see it, to cancelling the appt due to work issues, however in the interim he's been sending me links to similar cars which are apparently better priced, particularly one which is 7m older and £200 less, well yes it would be and all the others were far cheaper as they are far older and I've told him so. He also wants a VAT qualifying car which would mean an ex demo or courtesy car so that limits the pool too, I've told him this as well.

So as from Friday he'd still not bought anything, he could have had the car by now part of the reason is he wants to see it first.

[ChocolateFrog]

Court_S said:

maz8062 said:

To compound this and based on anecdotal evidence, some dealership are not allowing prospective buyers to even touch cars never mind take the car for a test drive. There is such a rigamarole to disinfect cars, social distancing and the like that some dealers are only interested in those where there is a high likelihood of a sale.

If the show room experience becomes too much hassle, the new normal will be online purchasing, PlayStation type test drives etc.

Equally that may backfire a wee bit; chap on another forum is looking for an M140i, found one he liked the look of but was told in no uncertain terms that he could only drive it after he’d bought it. On a used car that seems a bit counter intuitive. He’s walked and is on the look out still.

No way would I buy a used car without driving / having a good look around it first.

The minimum is to be sat in the passenger seat while the owner drives it paying close attention to whether they're trying to drive around any problems.

[Court_S]

Deep Thought said:

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

+1

Totally agree.

Whilst I can think of nothing worse than heading to a retail park on a weekend, I do want the masses to head back there....they’re all out at places like Cannock Chase clogging up my favourite mountain bike trails! :lol:

On a more serious note, I don’t like shopping at the best of times and I’m sick of the queuing to get into places already. It’s practically impossible to just pop out and grab something quickly.

[Burnzyb]

Looking at the cheap end of the market, used car prices seem to have gone up a varied amount.

But used bucket seat prices have fallen through floor as everyone is selling them currently

[gizlaroc]

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..

Make sure people can email you.

When selling privately most people will break the ice with a quick email. I hate phoning sellers and having to listen to their drivel for half an hour just to find out if the car is still for sale. Also, people are more likely to make a bit of an offer via an email.

For me Autotrader is also not such a good platform anymore, eBay has been brilliant, facebook marketplace as well (but you will get lots of "last price bruv?" type messages, and also Gumtree.
£20 will cover all three adverts as well.

eBay has been the best platform for me, loads of images, lots of decent description so all questions answered in the advert.

[Mr Whippy]

Welshbeef said:

Court_S said:

Equally that may backfire a wee bit; chap on another forum is looking for an M140i, found one he liked the look of but was told in no uncertain terms that he could only drive it after he’d bought it. On a used car that seems a bit counter intuitive. He’s walked and is on the look out still.

No way would I buy a used car without driving / having a good look around it first.

Second biggest cost you’ll ever have after buying a house and no ability to drive it no thanks.

It always makes me laugh.

Of course you can drive it after you've bought it. You're driving your own fsking car ffs! Moron dealers. Avoid. There are so many great dealers out there, there is no need to feed the idiots.

[andygo]

I have just noticed that WBAC has now valued my 2017 Golf 7.5R at £15,500, down from £20k a couple of months ago. Not really a problem at the mo as I intend keeping it for a while, but not great news had I been wanting to swap.

On the other hand, similar cars on PH Ads seem to have risen in price by a couple of grand..

Edited by andygo on Monday 8th June 10:43

[anonymous-user]

Burnzyb said:

Looking at the cheap end of the market, used car prices seem to have gone up a varied amount.

I would agree with that, I am interested in the under £5K, 10+ year old German automatic diesel cars (W204 CDi, E90 325/30d, Audi A4/6 3.0 tdi, E320 Cdi etc.) and prices definitely seem to be around 10/20% higher than when I was looking pre Covid. Anything keenly priced seems to sell the same day.

Porsche Boxsters also seem to have gone up in price, there are certainly not the £4K cars there were a few years ago.

[Fattyfat]

Anyone close to the end of a PCP thinking of paying the balance and holding on to what they have for a few years? That could well hit supply and firm up prices

[Drezza]

Interestingly my stbox Skoda Fabia with 140K miles seems to be worth a couple of hundred more than pre-covid. Reckon it was worth £1200 before, could probably get £1400 now. Still reckon prices will slump once mass redundancies start, although may not impact the bangernomics sector.

[growlerowl]

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

A long while back in my late teens I worked at an out of town retail park, and remember being amused/horrified one May Bank holiday at the number of people that had pitched up for a family picnic in their car in jammed and sweltering Homebase/B&Q car parks. Family shopping in depressing retail sheds plus a picnic in a sweaty polluted bleak retail park - truly living the dream.
So sad that this is the best thing lots of people have to do.

[jamoor]

growlerowl said:

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

A long while back in my late teens I worked at an out of town retail park, and remember being amused/horrified one May Bank holiday at the number of people that had pitched up for a family picnic in their car in jammed and sweltering Homebase/B&Q car parks. Family shopping in depressing retail sheds plus a picnic in a sweaty polluted bleak retail park - truly living the dream.
So sad that this is the best thing lots of people have to do.

They went to the car park to have a picnic? I don't get it.

[jgrewal]

Fattyfat said:

Anyone close to the end of a PCP thinking of paying the balance and holding on to what they have for a few years? That could well hit supply and firm up prices

Hi mate, I have PCP ending and my car is worth more 3k than my outstanding balance. Trying to sell so i make sure I end up on the upside. However, the thought did cross my mind to finance the balloon payment as per the current world situation. Actually ended going for a lease this time as this is my 3rd PCP which I not taken the option to buy the car outright.

[Deep Thought]

growlerowl said:

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

A long while back in my late teens I worked at an out of town retail park, and remember being amused/horrified one May Bank holiday at the number of people that had pitched up for a family picnic in their car in jammed and sweltering Homebase/B&Q car parks. Family shopping in depressing retail sheds plus a picnic in a sweaty polluted bleak retail park - truly living the dream.
So sad that this is the best thing lots of people have to do.

Any time i think of shopping centres it reminds me of the scene in Dawn of the Dead where all the Zombies revert back to walking around the shopping mall because thats what they did when they were alive. Just mindlessly walking about for no reason.

[Court_S]

Deep Thought said:

growlerowl said:

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

A long while back in my late teens I worked at an out of town retail park, and remember being amused/horrified one May Bank holiday at the number of people that had pitched up for a family picnic in their car in jammed and sweltering Homebase/B&Q car parks. Family shopping in depressing retail sheds plus a picnic in a sweaty polluted bleak retail park - truly living the dream.
So sad that this is the best thing lots of people have to do.

Any time i think of shopping centres it reminds me of the scene in Dawn of the Dead where all the Zombies revert back to walking around the shopping mall because thats what they did when they were alive. Just mindlessly walking about for no reason.

It’s grim. I’ll go when I need something but the idea of mooching about Next, Matalan just because it’s the weekend is awful. Sod that. I can think of many better ways to spend my time.

[av185]

So said:

av185 said:

So said:

av185 said:

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.

The smart money says it will as punters see value and downgrade to cheaper residually robust and reliable quality used stock.

Who is "the smart money"?

The general market i.e. buyers.

They are rarely wrong.

You need to look up "smart money".

What you're describing is dumb money.

You need to look at whats happening on stock markets atm. Forward looking pricing.

So with recent rises of 20%+ those invested are hardly in the dumb money camp.

Whereas those who sold out/remain uninvested are hardly smart.

[J4CKO]

growlerowl said:

av185 said:

Nothing surprises me when it comes to saddo timewasters across most purchases who really have nothing else in their lives and essentially nothing else better to do with their time.

The British consumer really is programmed to shop irrespective of whether or not they buy more tat they don't need or nothing at all.

Just look at the number of folks, individuals and whole families who pre covid would spend a whole day and a perfect summers day at that, driving miles and queuing in desperation to walk round some godforsaken shopping centre to have 'lunch' at some stty crammed to the rafters McDonalds then traipse round the usual braindead retailers found on any high street to buy more tat they might want but definitely don't need.

This mentality of the timewasters inevitably extends to cars and showrooms just as much as it does to new housing developments where those with empty lives and nothing better to do with their time are perfectly happy wasting others time viewing and testing cars and homes they have absolutely no intention whatsoever of buying.

A long while back in my late teens I worked at an out of town retail park, and remember being amused/horrified one May Bank holiday at the number of people that had pitched up for a family picnic in their car in jammed and sweltering Homebase/B&Q car parks. Family shopping in depressing retail sheds plus a picnic in a sweaty polluted bleak retail park - truly living the dream.
So sad that this is the best thing lots of people have to do.

I remember a couple of years back going, on a hot day to B and Q to get some bits and abandoning it, the retail park car park was utterly full to capacity and I thought sod that, turned back, went home and because I couldn't do the job I had set out to do, i took the hound for a walk through the Bollin Valley, which was absolutely empty.

Seemed strange, godforsaken retail park crammed, lovely countryside completely deserted.

Am sure a lot of the people had to go, but I get the impression some just go for something to do, no wonder we generate so much landfill.