Will Coronavirus hit used car prices?

[Throttlebody]

Deep Thought said:

Why do you think that? Cheap cars are being snapped up by people avoiding using public transport and quite likely those downsizing.

I'm seeing less cheapies about now, rather than more. I stick the odd car on facebook for a friend of mine whos a trader and the cheap stuff just flies out. Even stuff with crazy mega miles.

That’s why I’m taking my time - read the posts - waiting for the recession to bite.

[Deep Thought]

Throttlebody said:

Deep Thought said:

Why do you think that? Cheap cars are being snapped up by people avoiding using public transport and quite likely those downsizing.

I'm seeing less cheapies about now, rather than more. I stick the odd car on facebook for a friend of mine whos a trader and the cheap stuff just flies out. Even stuff with crazy mega miles.

That’s why I’m taking my time - read the posts - waiting for the recession to bite.

And read my posts (and others saying the same) - typically in a recession (particularly one predicted to be as severe as this one will be) cheaper cars (sub £1,000) are likely to cost more (or more likely you get less bang for your buck as it were).

The trick at that end of the market is snap up a bargain if and when it appears, not wait in the hope that the market generally will collapse.

[Throttlebody]

Deep Thought said:

And read my posts (and others saying the same) - typically in a recession (particularly one predicted to be as severe as this one will be) cheaper cars (sub £1,000) are likely to cost more (or more likely you get less bang for your buck as it were).

The trick at that end of the market is snap up a bargain if and when it appears, not wait in the hope that the market generally will collapse.

Try and control your imagination. Where did you get ‘hope the market will collapse’ from

[limpsfield]

Throttlebody said:

I’m also taking my time with a £1K budget for a specific shed. Reckon there will be plenty of bargains with some distressed selling once the deep recession really bites.

OK I am intrigued. What shed are you waiting to buy for £1k? And how much is it if you wanted to buy it now?

[Scootersp]

limpsfield said:

Throttlebody said:

I’m also taking my time with a £1K budget for a specific shed. Reckon there will be plenty of bargains with some distressed selling once the deep recession really bites.

OK I am intrigued. What shed are you waiting to buy for £1k? And how much is it if you wanted to buy it now?

yep, there is almost nothing to be down there at any time, the way to nab a bargain down there is not always the price more the seller, ie recognising a nice car just being moved on rather than a shed buyer ditching something with too many issues etc.

2-6 year old stuff could take a hit, perhaps some even older stuff, as sure as dealers are paying cap clean and above prices now to get stock they'll refrain from doing so if they end up with too much stock lying around, then we may see some stressed sales from private and trade. The furlough thing has largely (totally?) reduced the need so far for stressed/desperation sales so far.

[Camelot1971]

ChocolateFrog said:

Camelot1971 said:

4) The lazy, terminally feckless unemployed, who sponge off their family and friends while spending their days tracking car dealer closures on a large map (probably stolen from Smiths). They dream of the days when they owned an old Nissan Micra but realise that was the peak of their automotive journey.

Those with a vested interest still a bit touchy in here I see.

What vested interest? I don't work in or even close to the car industry, I don't personally know anyone who does either. I do object to morons trying to troll this thread, which has generally been a good discussion.

[Deep Thought]

Scootersp said:

yep, there is almost nothing to be down there at any time, the way to nab a bargain down there is not always the price more the seller, ie recognising a nice car just being moved on rather than a shed buyer ditching something with too many issues etc.

I bought my 2006 330i like that. The guy was adamant "nobody wants these any more". I got it for probably half the price it should have been. He'd bought a 7 series diesel and wanted it out of the way.

Also best not to be too specific about what you want. I was just looking for "3 litre, petrol, autos" and it happened to come along.

[Camelot1971]

Throttlebody said:

Where did you get ‘hope the market will collapse’ from

From your entire posting history on here?

[Throttlebody]

limpsfield said:

Throttlebody said:

I’m also taking my time with a £1K budget for a specific shed. Reckon there will be plenty of bargains with some distressed selling once the deep recession really bites.

OK I am intrigued. What shed are you waiting to buy for £1k? And how much is it if you wanted to buy it now?

Something with a V6, although might be tempted with a decent 4 Cyl, auto, leather, cruise, petrol, sub 70k miles. Might go to £1500 for the right motor.

[limpsfield]

Throttlebody said:

Something with a V6, although might be tempted with a decent 4 Cyl, auto, leather, cruise, petrol, sub 70k miles. Might go to £1500 for the right motor.

Like this?


https://www.autotrader.co.uk/classified/advert/202...

Jaguar X-Type
2001 (Y reg)

3.0 V6 SE Saloon 4dr Petrol Automatic
£1,490

[Throttlebody]

limpsfield said:

Throttlebody said:

Something with a V6, although might be tempted with a decent 4 Cyl, auto, leather, cruise, petrol, sub 70k miles. Might go to £1500 for the right motor.

Like this?


https://www.autotrader.co.uk/classified/advert/202...

Jaguar X-Type
2001 (Y reg)

3.0 V6 SE Saloon 4dr Petrol Automatic
£1,490

Yep, that sort of thing, saloon type barge, but not that one, it’s been around for ages. Maybe a Jap or Korean, not french.

[Bemmer]

Throttlebody said:

limpsfield said:

Throttlebody said:

Something with a V6, although might be tempted with a decent 4 Cyl, auto, leather, cruise, petrol, sub 70k miles. Might go to £1500 for the right motor.

Like this?


https://www.autotrader.co.uk/classified/advert/202...

Jaguar X-Type
2001 (Y reg)

3.0 V6 SE Saloon 4dr Petrol Automatic
£1,490

Yep, that sort of thing, saloon type barge, but not that one, it’s been around for ages. Maybe a Jap or Korean, not french.

Who is actually interested in what you want to buy... let's go back to the title thread..! of which you've add very little valid content... an apprentice troll or full qualified... everyone is getting board I'm sure...

[Throttlebody]

Bemmer said:

Who is actually interested in what you want to buy... let's go back to the title thread..! of which you've add very little valid content... an apprentice troll or full qualified... everyone is getting board I'm sure...

The chap did ask. Btw it’s *bored.

[Bemmer]

Throttlebody said:

Bemmer said:

Who is actually interested in what you want to buy... let's go back to the title thread..! of which you've add very little valid content... an apprentice troll or full qualified... everyone is getting board I'm sure...

The chap did ask. Btw it’s *bored.

Sorry... board yes.. is that what you pay while living at home ...? Maybe boring would be better..

[lord trumpton]

Was chatting with my mate yesterday who is general sales manager at local Audi dealership.

He said they are busy as hell and have had an amazing month and had sold 15 cars that very day.

All new stuff and a lot of S/RS high value stuff too

No sign of demand falling off yet apparently

[Sheepshanks]

lord trumpton said:

All new stuff.....

The thread is about Used prices. Maybe if lots New are being sold then Used will drop?

[Anonymous-poster]

Shadow R1 said:

Deep Thought said:

Anonymous-poster said:

Deep Thought said:

Anonymous-poster said:

Bemmer said:

but it's clearly not..? You won't except the facts..? Prices are not dropping..? There is a shortage of used stock..? You continually bang on about all doom and gloom but the dealers are saying the contrary and your not listening..?

Is the shortage of stock due to not being able to get the cars from the storage facilities to auction or is it being “managed” to keep the values up?

Who said or demonstrated that used cars were being stored in storage facilities?

Ah, I thought the photos were of secondhand cars not new!

I "think" they were new cars. Almost certain they were.

They are 2nd hand at both sites.

Thought they were.

[South tdf]

Bad news Throttle Body, bargain barges are going up!

I paid £2000 for an immaculate GS450H nearly a year ago (write up and pics in barge thread). Not really knowing why I bought it apart from it was stupidly cheap (the owner was only offered that against a new one), I lent it to a mate who needed a car.

Roll forwards 10 months and a tipper truck has reversed onto the front damaging the bonnet and headlights and his insurance company would rather write it off and pay £5200 than repair.

[Thankyou4calling]

lord trumpton said:

Was chatting with my mate yesterday who is general sales manager at local Audi dealership.

He said they are busy as hell and have had an amazing month and had sold 15 cars that very day.

All new stuff and a lot of S/RS high value stuff too

No sign of demand falling off yet apparently

They sold 15 NEW cars. In a day!!

I’ll leave someone else to comment,

[Deep Thought]

Anonymous-poster said:

Shadow R1 said:

Deep Thought said:

Anonymous-poster said:

Deep Thought said:

Anonymous-poster said:

Bemmer said:

but it's clearly not..? You won't except the facts..? Prices are not dropping..? There is a shortage of used stock..? You continually bang on about all doom and gloom but the dealers are saying the contrary and your not listening..?

Is the shortage of stock due to not being able to get the cars from the storage facilities to auction or is it being “managed” to keep the values up?

Who said or demonstrated that used cars were being stored in storage facilities?

Ah, I thought the photos were of secondhand cars not new!

I "think" they were new cars. Almost certain they were.

They are 2nd hand at both sites.

Thought they were.

If there are an element of used cars there, then presumably its stuff that was - as you said - in transit at lockdown couldnt / cant yet be processed at auction.

There is currently strong demand but you'd have to be very very brave and very confident of prices continuing to rise to make it worthwhile hold back large volumes of used cars purposely.

But a static picture tells us nothing about that really.