Will Coronavirus hit used car prices?
Discussion
Deep Thought said:
Nah.
I quoted the phrase free money as i had seen it used by some people who availed of it, not because thats how i view it.
I think most businesses have had a tough time of it. Granted theres a small minority who seem to have used the BBLs to pay the deposit on supercars but that will be between them, their accountants and HMRC.
The purpose of it was to prevent small businesses having to burn up their own cashflow and money to keep going. On that front i think its been largely successful.
Would you agree?
'UK banks are preparing a code of conduct for pursuing businesses that default on taxpayer-backed coronavirus loans, amid industry estimates that up to eight out of 10 borrowers could fail to repay in full. The Guardian understands that the industry lobby group UK Finance and the state-owned British Business Bank have kicked off talks with commercial lenders in an effort to set industry-wide debt collection standards well ahead of repayments falling due'. - GuardianI quoted the phrase free money as i had seen it used by some people who availed of it, not because thats how i view it.
I think most businesses have had a tough time of it. Granted theres a small minority who seem to have used the BBLs to pay the deposit on supercars but that will be between them, their accountants and HMRC.
The purpose of it was to prevent small businesses having to burn up their own cashflow and money to keep going. On that front i think its been largely successful.
Would you agree?
Algarve said:
A lot of people won't be made redundant yet, there isn't really any need to while the taxpayer will pick up the tab. But we're going to see more of this - https://www.dailyrecord.co.uk/news/scottish-news/p...
They're all being made redundant the day before the business owner needs to start putting his hand in his own pocket.
'Employers planning mass redundancies of furloughed workers face restrictions that may force them to pay back months of wages to the taxpayer. The Treasury has panicked some businesses by rewording the purpose of the Coronavirus Job Retention Scheme to say it is "integral" that its money is "used by the employer to continue the employment of employees". - TelegraphThey're all being made redundant the day before the business owner needs to start putting his hand in his own pocket.
Powershift said:
Algarve said:
A lot of people won't be made redundant yet, there isn't really any need to while the taxpayer will pick up the tab. But we're going to see more of this - https://www.dailyrecord.co.uk/news/scottish-news/p...
They're all being made redundant the day before the business owner needs to start putting his hand in his own pocket.
'Employers planning mass redundancies of furloughed workers face restrictions that may force them to pay back months of wages to the taxpayer. The Treasury has panicked some businesses by rewording the purpose of the Coronavirus Job Retention Scheme to say it is "integral" that its money is "used by the employer to continue the employment of employees". - TelegraphThey're all being made redundant the day before the business owner needs to start putting his hand in his own pocket.
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.
Revealing numbers and comment from the SMMT - Subdued and no sign of pent up demand, figures masked by pre CV19 delayed registrations, weak consumer commitment for a big ticket purchase. A depressed market. “this is not a recovery and barely a restart” 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
Throttlebody said:
Butter Face said:
Revealing numbers and comment from the SMMT - Subdued and no sign of pent up demand, figures masked by pre CV19 delayed registrations, weak consumer commitment for a big ticket purchase. A depressed market. “this is not a recovery and barely a restart”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.
It’s a slightly distorted with no registrations for 3 months though, but yes Scotland would have put those numbers up! 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
I think September sales will give us a better indication to where we are.
maz8062 said:
Throttlebody said:
Butter Face said:
Revealing numbers and comment from the SMMT - Subdued and no sign of pent up demand, figures masked by pre CV19 delayed registrations, weak consumer commitment for a big ticket purchase. A depressed market. “this is not a recovery and barely a restart”Anonymous-poster said:
Is the second hand marked buoyed by people moving away from new pcp and into older ownership?
You mean people arent trapped in Perpetual Car Prisons? 
I guess we'll not know until we're through some monthly cycles and some real data analysis is done by the like of CAP, SMMT, etc.
A member of the family managed to sell his Merc SLK a few days ago. His had it for sale since Dec so seven months or so. Judging by the level of interest it had during that time on AT, it probably wasn't the right price on sale as had no bites or just an unpopular car.
He just sold it for 13.5 and it was put up for 14k. I don't think he would been able to get it sold if it wasn't for the current pent up demand.
Whatever people may think of it i think this demand will ride into end of this year/beginning of next year before it dies out.
He just sold it for 13.5 and it was put up for 14k. I don't think he would been able to get it sold if it wasn't for the current pent up demand.
Whatever people may think of it i think this demand will ride into end of this year/beginning of next year before it dies out.
eliot said:
Deep Thought said:
You mean people aren't trapped in Perpetual Car Prisons?
Quote of the weekIts a term bandied about by those wishing to stir the pot RE: car finance in the anti car finance threads. (We must be due one of those again, surely?)
Just interesting to see there is a view that people may be freely moving away from PCPing new cars even though some of the car finance nay sayers have argued that people are "trapped" in car finance cycles.
Deep Thought said:
Oh it wasnt me came up with that.
Its a term bandied about by those wishing to stir the pot RE: car finance in the anti car finance threads. (We must be due one of those again, surely?)
Due one again? I thought every thread on here about any vehicle new was turned into one Its a term bandied about by those wishing to stir the pot RE: car finance in the anti car finance threads. (We must be due one of those again, surely?)
How everyone in a PCP has £10k of negative equity and is desperately trying to impress their neighbours. Deep Thought said:
Just interesting to see there is a view that people may be freely moving away from PCPing new cars even though some of the car finance nay sayers have argued that people are "trapped" in car finance cycles.
It was never a physical trap in my view, it was a mental/ psychological one ie a nice new car and the same fixed payment worked a treat for manufacturers and buyer, but now some are considering the long term commitment side perhaps and so are moving away.We could be seeing a gradual 'downsizing' going on, the new car sales being hit the worst in that scenario. Or to go with the recent pent up demand there is pent up future demand ie those waiting in the wings that have a perfectly fine car that they'd normally change but are holding fire until they kow 100% what their position is work/business wise? The level of these and how they react is unknown/ongoing.
93DW said:
Deep Thought said:
Oh it wasnt me came up with that.
Its a term bandied about by those wishing to stir the pot RE: car finance in the anti car finance threads. (We must be due one of those again, surely?)
Due one again? I thought every thread on here about any vehicle new was turned into one Its a term bandied about by those wishing to stir the pot RE: car finance in the anti car finance threads. (We must be due one of those again, surely?)
How everyone in a PCP has £10k of negative equity and is desperately trying to impress their neighbours. 
True.
Scootersp said:
Deep Thought said:
Just interesting to see there is a view that people may be freely moving away from PCPing new cars even though some of the car finance nay sayers have argued that people are "trapped" in car finance cycles.
It was never a physical trap in my view, it was a mental/ psychological one ie a nice new car and the same fixed payment worked a treat for manufacturers and buyer, but now some are considering the long term commitment side perhaps and so are moving away.We could be seeing a gradual 'downsizing' going on, the new car sales being hit the worst in that scenario. Or to go with the recent pent up demand there is pent up future demand ie those waiting in the wings that have a perfectly fine car that they'd normally change but are holding fire until they kow 100% what their position is work/business wise? The level of these and how they react is unknown/ongoing.
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