Will Coronavirus hit used car prices?
Discussion
menousername said:
Yep - he hadn't completed the transaction I believer? When he arrived the car had some scuffs and marks and was it reasonable to ask dealer to discount it or cover it if he got it done.
Was it unreasonable to ask- no. Should he need to on a 30k car- no. It should be immaculate.
You're missing a load of context so that you can draw a binary conclusion, its definitely not as straightforward as "guy asks dealer if he'll fix a scuffed wheel on £30K car and told no". Was it unreasonable to ask- no. Should he need to on a 30k car- no. It should be immaculate.
Edited by Deep Thought on Wednesday 10th June 10:35
Deep Thought said:
You're missing a load of context so that you can draw a binary conclusion, its definitely not as straightforward as "guy asks dealer if he'll fix a scuffed wheel on £30K car and told no".
Price of car is irrelevant. Edited by Deep Thought on Wednesday 10th June 10:35
Is this a 30k car, that was 60k when new?
Same as buying a second hand car at 7k that was 14k new.
Still 50pc of it's new value, therefore wear and tear to be expected.
Just because its 30k, does not mean there is any more profit in the car than a 5k retail sale.
5LDC said:
The spinner of plates said:
South tdf said:
5LDC said:
I've just sold a car privately, the buyer test drove the car alone with me following in a car behind.
Only happy to do so as he seemed a decent guy and I was driving a considerably faster car, should he try to disappear.
And what would you have done if he decided to disappear.Only happy to do so as he seemed a decent guy and I was driving a considerably faster car, should he try to disappear.
Having his name/address from his license, his Dads registration No of the car he turned up in and the key to the car he was driving in my pocket (keyless) was my plan b should he be able to out run me with half the horsepower.
Mexman said:
Deep Thought said:
You're missing a load of context so that you can draw a binary conclusion, its definitely not as straightforward as "guy asks dealer if he'll fix a scuffed wheel on £30K car and told no".
Price of car is irrelevant. Edited by Deep Thought on Wednesday 10th June 10:35
Is this a 30k car, that was 60k when new?
Same as buying a second hand car at 7k that was 14k new.
Still 50pc of it's new value, therefore wear and tear to be expected.
Just because its 30k, does not mean there is any more profit in the car than a 5k retail sale.
Wellcome back
Hows business?
Deep Thought said:
Exactly.
Wellcome back
Hows business?
Booming, 13 sold in 7 trading days, stock level is now below 20 with virtually nothing coming in PX against our stock or from our main dealer franchise against new cars.Wellcome back
Hows business?
Replacing stock is going to be very difficult, I can see us being into a single figure stock holding in a week or so.
Enquiries are coming in quick and fast, very minimal, if any discounting going on.
It's all good currently.
Edited by Mexman on Wednesday 10th June 11:28
Edited by Mexman on Wednesday 10th June 11:28
I've been watching 1Ms over the last few weeks and there definitely seems to be movement, though mainly the, err, "better" priced cars. This assumes that a car disappearing from AT is an actual sale. Two cars disappeared in the last 24 hours and a third marked as sold, in a total of 18 cars.
(There is a wide spread of prices for 1Ms ranging from 30 to 55k.)
(There is a wide spread of prices for 1Ms ranging from 30 to 55k.)
UpBeats said:
Offered 14.8k for an ST3 fiesta 800 miles on clock by WBAC lol. They are low balling for sure.
Mmm, I'm not sure about WBAC, I can understand them being cautious, I presume they may still be over stocked from before lockdown, with no way of realistically disposing of stock until everywhere reopened.I think once they get moving properly, then offers may get back to normal and settle somewhat.
tertius said:
I've been watching 1Ms over the last few weeks and there definitely seems to be movement, though mainly the, err, "better" priced cars. This assumes that a car disappearing from AT is an actual sale. Two cars disappeared in the last 24 hours and a third marked as sold, in a total of 18 cars.
(There is a wide spread of prices for 1Ms ranging from 30 to 55k.)
Seems similar with M2s. There are less cars at the "better priced" end of the market. Only one now at £25K, next one is £26,995.(There is a wide spread of prices for 1Ms ranging from 30 to 55k.)
Be interesting to see what happens in the very near future, as most dealers, I expect, will be getting very low on stock, going by the current sales 'boom'
As predicted, sub 5k retail stuff is absolutely flying out the door.
My colleague had, the other day 3 people wanting to buy the same 4.5k Astra, that had sat unsold pre covid, for a month without a door being opened on it.
The oldest car on the pitch at 160 days old, without so much as a sniff, sold on day 2 of reopening, with another incoming enquiry due to view the same afternoon.
All very strange.
As predicted, sub 5k retail stuff is absolutely flying out the door.
My colleague had, the other day 3 people wanting to buy the same 4.5k Astra, that had sat unsold pre covid, for a month without a door being opened on it.
The oldest car on the pitch at 160 days old, without so much as a sniff, sold on day 2 of reopening, with another incoming enquiry due to view the same afternoon.
All very strange.
It all seems like it might be a good time to try selling my car (E90 330i manual, probably around the £2k mark). What with being furloughed until at least August I'm barely using it and having a partner who won't be going to work for over a year it's totally unnecessary having two cars. If I still have a job in few months and prices have dropped as predicted I can buy a pickup, if not then I won't be needing a car and would be needing the money.
I'm not sure how socially distanced selling would work but depending on the results of tomorrow's MOT I might advertise it and see what happens.
I'm not sure how socially distanced selling would work but depending on the results of tomorrow's MOT I might advertise it and see what happens.
Cobraball said:
I've had 39 cars on my AT saved list mix of RR Evouge SE Tech and VW Tiguan R-Line all 2017 onwards and under 30K miles and in the last 14 days only two have sold. Not sure that's booming !!!
Hardly surprising Sherlock.Not sure they are exactly desirable, nor relatively cheap, nor big, fast sellers anyway.
I've said all along, that sub 5k retailable stock will sell, more expensive stuff that is usually financed may struggle initially.
Mexman said:
Hardly surprising Sherlock.
Not sure they are exactly desirable, nor relatively cheap, nor big, fast sellers anyway.
I've said all along, that sub 5k retailable stock will sell, more expensive stuff that is usually financed may struggle initially.
Yes, but that is a very small segment of the overall market. What does £5k get you these days when the average prices of new cars are getting closer and closer to £30k?Not sure they are exactly desirable, nor relatively cheap, nor big, fast sellers anyway.
I've said all along, that sub 5k retailable stock will sell, more expensive stuff that is usually financed may struggle initially.
If the pauper end of the market is booming, I'm not sure that bodes well for overall used car prices, but I could be wrong.
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