Will Coronavirus hit used car prices?
Discussion
GT3Manthey said:
Deep Thought said:
Funnily i was just about to suggest M2s could be in for a battering.
For reference and to refer back to, cheapest car (at a dealers as it happens), auto, is this 2016 one with 64K miles @ £25K miles.
https://www.autotrader.co.uk/classified/advert/202...
3 others available under £26K too around the country.
Will be interesting to see where that sits in say 3 months time.
Mine is 13k miles and manual ( my preference) but i'm sucking a fat one with that ! For reference and to refer back to, cheapest car (at a dealers as it happens), auto, is this 2016 one with 64K miles @ £25K miles.
https://www.autotrader.co.uk/classified/advert/202...
3 others available under £26K too around the country.
Will be interesting to see where that sits in say 3 months time.
At least I didn't buy it new . I paid 32k last august with 9k miles and its still under warranty.
TBF its a great car to hoon around in in all weathers but to sell it now? whos knows !
Great cars for the cash
No plans to sell though so not concerned.
An M2 would be a second car. Will see if / when they hit £20K.....
Deep Thought said:
We bought our M140i new in March 19. I think it'll be worth about 6 toilet rolls by the summer
No plans to sell though so not concerned.
An M2 would be a second car. Will see if / when they hit £20K.....
May not be that long away! No plans to sell though so not concerned.
An M2 would be a second car. Will see if / when they hit £20K.....
Depends on mileage as with all cars.
TBF I've owned a stack of cars and for the cash the M2 is i'd say a bargain for what it does.
GT3Manthey said:
Deep Thought said:
We bought our M140i new in March 19. I think it'll be worth about 6 toilet rolls by the summer
No plans to sell though so not concerned.
An M2 would be a second car. Will see if / when they hit £20K.....
May not be that long away! No plans to sell though so not concerned.
An M2 would be a second car. Will see if / when they hit £20K.....
Depends on mileage as with all cars.
TBF I've owned a stack of cars and for the cash the M2 is i'd say a bargain for what it does.
But yes, they seem to be a great all rounder.
Deep Thought said:
We'd have had one as our main car, but we need a 5 door. Can maybe justify one as a second car if the price is right.
But yes, they seem to be a great all rounder.
My wife drives it in comfort and I drive it in sport. Sport plus makes the steering too heavy, BMW deffo got that setting wrong. But yes, they seem to be a great all rounder.
sport gives you everything with a safety net.
For the cash i'm not sure what else beats it
GT3Manthey said:
So said:
I've exposure to one of those and nearly to a second.
I also have one too but family wagon. Bentleys I think if you own one you expect to take a bath.
Mercedes can go forever so there is a reason to run one for the rest of time
I was due to pick it up two days before COVID became a big problem, but the dealership had some delays. I asked to suspend the deal, but they said they'd cancel and return my deposit. Though I note that they haven't and the dealership is now closed.
braddo said:
A great recovery wasn't coming (Brexit cliff edge at the end of 2020 creates far too much uncertainty) but it was certainly looking far better than it is now.
Behind the 2 world wars this might be the biggest unforseen 'black swan' event the world has seen, for the past couple of hundred years at least.
The build up to the world wars was quite long; Coronavirus has hit us like a rocket.Behind the 2 world wars this might be the biggest unforseen 'black swan' event the world has seen, for the past couple of hundred years at least.
Here is my question; common cars (Focus) all depreciate at a predicable rate, pre-virus of course. What will be the extra depreciation percentage because of today's environment on cars in the 1-36 month old range?
Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Edited by the-photographer on Thursday 26th March 10:41
the-photographer said:
Here is my question; common cars (Focus) all depreciate at a predicable rate, pre-virus of course. What will be the extra depreciation percentage because of today's environment on cars in the 1-36 month old range?
It's really very simpleSupply and demand
Currently there are very few buyers - what does that do to prices ?
However there are very few suppliers - what does that do to prices ?
At the end there will have been a considerable reduction of new / nearly new vehicles available but many people will have less money to spend...
In short - no one knows.
Not sure if Coronavirus is having an impact, but second-hand Alfa Quadrifoglios are becoming more affordable (listed from £35k - https://www.pistonheads.com/classifieds?Category=u...
Interesting statistic:
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
Vroomer said:
Interesting statistic:
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
The guys we rent a forecourt to spend 4k a month on Autotrader,At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
they have cancelled this month but have been told they can advertise next month FOC.
Had a conversation with my insurance broker this morning and they advised all their dealerships to remove as much open stock as possible,compound all stock closely together and remove V5's and all keys... they expect looting and theft to be the next problem in all types of businesses....
jeff666 said:
Vroomer said:
Interesting statistic:
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
The guys we rent a forecourt to spend 4k a month on Autotrader,At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
they have cancelled this month but have been told they can advertise next month FOC.
In the property world, The London Office of the Auction House - originally offered for the auction on 25 March 131 Lots . 62 (nearly 50% withdrawn) so 69 went up for auction on the day and 48 sold - this is a appalling and gives you a flavour of how confidence has evaporated
https://www.auctionhouse.co.uk/london/auction/past...
the-photographer said:
Here is my question; common cars (Focus) all depreciate at a predicable rate, pre-virus of course. What will be the extra depreciation percentage because of today's environment on cars in the 1-36 month old range?
Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Nothing on your above list appeals atm.Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Edited by the-photographer on Thursday 26th March 10:41
The only car of interest which will be good value and maintain it residually ££ plus future premium would be a Hurracan Performante. I am in the market for one of the right spec and mileage. £140k feels about right atm.
Future classic and relatively low numbers will guarantee a substantial premium ££ in c 18 months if bought at sensible money over the next 6 months.
570S a great package but quite dull as a road car. I sold mine last summer after 2 months. These will be cracking value into the autumn especially pricipally due to over supply. Trade is currently mid £60ks this could drop to mid £40ks over the next few months imo.
Numpty with honours said:
jeff666 said:
Vroomer said:
Interesting statistic:
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
The guys we rent a forecourt to spend 4k a month on Autotrader,At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
they have cancelled this month but have been told they can advertise next month FOC.
In the property world, The London Office of the Auction House - originally offered for the auction on 25 March 131 Lots . 62 (nearly 50% withdrawn) so 69 went up for auction on the day and 48 sold - this is a appalling and gives you a flavour of how confidence has evaporated
https://www.auctionhouse.co.uk/london/auction/past...
https://auctions.savills.co.uk/Auctions/PastAuctio...
I fully expect big ticket items to be heavily discounted in the coming months and cars especially, particularly as most cars today are capable of well over 100,000 miles and dont need to be changed . So buyers looking to restore their balance sheet can delay upgrading a car for a good few years - so to sell a car it needs to be priced very attractively
av185 said:
the-photographer said:
Here is my question; common cars (Focus) all depreciate at a predicable rate, pre-virus of course. What will be the extra depreciation percentage because of today's environment on cars in the 1-36 month old range?
Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Nothing on your above list appeals atm.Expensive cars will be harder to predict, simpler because there is less volume. Looking at the Classified Ads, you might be able to guess which ones will have the hardest time:
California = 99
488 = 76
599 = 42
Aventador = 103
Huracan = 95
570s = 74
Bentayga = 114 (!!!) cheapest £87,000
Continental GT = 267
Edited by the-photographer on Thursday 26th March 10:41
The only car of interest which will be good value and maintain it residually ££ plus future premium would be a Hurracan Performante. I am in the market for one of the right spec and mileage. £140k feels about right atm.
Future classic and relatively low numbers will guarantee a substantial premium ££ in c 18 months if bought at sensible money over the next 6 months.
570S a great package but quite dull as a road car. I sold mine last summer after 2 months. These will be cracking value into the autumn especially pricipally due to over supply. Trade is currently mid £60ks this could drop to mid £40ks over the next few months imo.
I'm under no illusion my Porsche will have the value of a 4 pack of Heinz beans. Its a perfect as new, very low mileage example but sadly it will make absolutely no difference.
The cars for sale I have on my site will have the value of scrap. Forget 'bargains', they won't be worth buying at any price..
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