Will Coronavirus hit used car prices?
Discussion
Anonymous-poster said:
jammy-git said:
It is against the terms of the loan, so if anyone has they're committing fraud.
Martin Lewis I think said you could use the BB loan to pay yourself a salary as Co directors were left with little or no help from the government?jammy-git said:
Ultimately you self certify when you apply and the lender assumes the information you've given is correct. I've heard of some lenders doing some further checks, but mostly not.
Yes, theres effectively a box tick to say you are applying as your business has been adversely affected.As A/P has said they dont check whether thats by £1 or by £1,000,000.
Deep Thought said:
jammy-git said:
Ultimately you self certify when you apply and the lender assumes the information you've given is correct. I've heard of some lenders doing some further checks, but mostly not.
Yes, theres effectively a box tick to say you are applying as your business has been adversely affected.As A/P has said they dont check whether thats by £1 or by £1,000,000.
Anonymous-poster said:
Deep Thought said:
jammy-git said:
Ultimately you self certify when you apply and the lender assumes the information you've given is correct. I've heard of some lenders doing some further checks, but mostly not.
Yes, theres effectively a box tick to say you are applying as your business has been adversely affected.As A/P has said they dont check whether thats by £1 or by £1,000,000.
But with less than £200K you can still get 25% of turnover.
Edited by Deep Thought on Sunday 5th July 19:10
Throttlebody said:
spikeyhead said:
Anonymous-poster said:
There was 2pictures earlier in the thread of thousands of “new” cars in holding compounds?
T'was always thus, but the pictures only get rolled out when someone thinks that the world is about to end.
Out of curiosity, what did you expect to happen to all those new and used cars, in transit across the UK when the whole country was shut down at a days notice?
Supplies of new cars are starting to come through in greater numbers. A friend picked up his new VW SUV (no idea what it is 
) on Friday after ordering it in February. This means that a four year old Skoda has now entered the system, which in turn is likely to result in an older VAG car taking its place in the system, although probably with an independent. Perhaps we are getting back to something like normality in the supply side at all levels, what happens to demand is now the critical factor. I am sure that all the car salesmen here will now be pulling out all the stops as it looks as if they are going to have more stock.
Disclaimer - this might be a complete misreading of the situation, but being based on one actual new car and one actual used one, it is probably more reliable than most of the posts in this thread.
) on Friday after ordering it in February. This means that a four year old Skoda has now entered the system, which in turn is likely to result in an older VAG car taking its place in the system, although probably with an independent. Perhaps we are getting back to something like normality in the supply side at all levels, what happens to demand is now the critical factor. I am sure that all the car salesmen here will now be pulling out all the stops as it looks as if they are going to have more stock.Disclaimer - this might be a complete misreading of the situation, but being based on one actual new car and one actual used one, it is probably more reliable than most of the posts in this thread.
Deep Thought said:
Throttlebody said:
spikeyhead said:
Anonymous-poster said:
There was 2pictures earlier in the thread of thousands of “new” cars in holding compounds?
T'was always thus, but the pictures only get rolled out when someone thinks that the world is about to end.Out of curiosity, what did you expect to happen to all those new and used cars, in transit across the UK when the whole country was shut down at a days notice?
It’s almost as if people wouldn’t expect a car storage compound to have cars in it.
I drove over the bridge by Portbury docks during lockdown and there were THOUSANDS of cars. Shocker.
Butter Face said:
Yes, quite
It’s almost as if people wouldn’t expect a car storage compound to have cars in it.
I drove over the bridge by Portbury docks during lockdown and there were THOUSANDS of cars. Shocker.
It’s almost as if people wouldn’t expect a car storage compound to have cars in it.
I drove over the bridge by Portbury docks during lockdown and there were THOUSANDS of cars. Shocker.
And taken on 9th June, so not that "recent".
But its another pic for the motor trade nay sayers to wheel out for the next 10 years to demonstrate the motor industry is on its knees.
Edited by Deep Thought on Sunday 5th July 19:13
jammy-git said:
Ultimately you self certify when you apply and the lender assumes the information you've given is correct. I've heard of some lenders doing some further checks, but mostly not.
As soon as the government 100% underwrote the loans, the lenders didn't give a monkeys about checks.Prior to that change, the lenders were being a
holes asking for business plans etc.Scootersp said:
It would be interesting to know the turnover on those sites, who generally has stuff held there and if the supply issues of good quality stock are because these are low specs etc or just not released?
I used to go to Upper Heyford once a week to pick up Black Horse ex lease cars when they used to auction them off themselves. They'd turn over an entire runways worth every week.the seeker said:
I have a Tiguan 2013 65000 miles average condition 2.0 4motion in white - cloth interior Manuel/ what sort of price could I expect in a private sale in current market conditions ? Are people trading up or down or buying as opposed to leasing ? Any info would be great thanks
Happy to help but can you first let me know the price of similar cars on AutoTrader? Thankyou4calling said:
SMMT sales figures for June 2020 out tomorrow.
223,000 sales in June 2019.
Pent up demand
Audi dealers selling 15 in a day
Dealerships “Really busy”
Who wants to guess how this will translate to actual factual?
What would be considered good?
Place your bets fellas.
It’s going to be about 145,000 for June 2020. 223,000 sales in June 2019.
Pent up demand
Audi dealers selling 15 in a day
Dealerships “Really busy”
Who wants to guess how this will translate to actual factual?
What would be considered good?
Place your bets fellas.
jsf said:
jammy-git said:
Ultimately you self certify when you apply and the lender assumes the information you've given is correct. I've heard of some lenders doing some further checks, but mostly not.
As soon as the government 100% underwrote the loans, the lenders didn't give a monkeys about checks.Prior to that change, the lenders were being a
holes asking for business plans etc.Fantastic opportunity for the regular career bankrupts I guess !! new motor? yeah mate tax write off init
Edited by powerstroke on Monday 6th July 07:53
Throttlebody said:
Thankyou4calling said:
SMMT sales figures for June 2020 out tomorrow.
223,000 sales in June 2019.
Pent up demand
Audi dealers selling 15 in a day
Dealerships “Really busy”
Who wants to guess how this will translate to actual factual?
What would be considered good?
Place your bets fellas.
It’s going to be about 145,000 for June 2020. 223,000 sales in June 2019.
Pent up demand
Audi dealers selling 15 in a day
Dealerships “Really busy”
Who wants to guess how this will translate to actual factual?
What would be considered good?
Place your bets fellas.
Hilarious. Amazing 'prediction' there.
35% down YOY. Pretty decent really based on the very late opening of Scottish and Welsh dealerships.
Edited by Butter Face on Monday 6th July 09:19
Butter Face said:
Gosh, have you thought about playing the lottery? Hilarious. Amazing 'prediction' there.
35% down YOY. Pretty decent really based on the very late opening of Scottish and Welsh dealerships.
I predicted 70% +/- 10%. It came in at 65%. Hilarious. Amazing 'prediction' there.35% down YOY. Pretty decent really based on the very late opening of Scottish and Welsh dealerships.
I notice none of the hand wringers made any predictions at the time....
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