Will Coronavirus hit used car prices?
Discussion
Deep Thought said:
Totally not the key point. The key points are
- Profits up from last June
- They saw strong trading believed to be from pent up demand
- That is continuing in to July
- They're sitting on a pile of cash to help them in the market conditions ahead.
Interesting, you’ve missed the actual £5.4 million trading loss from March to Jul, the future 345 redundancies, the shift to e-commerce, the furloughed employee rate and - on thread topic - the significant and deliberate used car stock reduction. Keep ignoring the key messages.Throttlebody said:
Interesting, you’ve missed the actual £5.4 million trading loss from March to Jul, the future 345 redundancies, the shift to e-commerce, the furloughed employee rate and - on thread topic - the significant and deliberate used car stock reduction. Keep ignoring the key messages.
t you really are. Butter Face said:
Deep Thought said:
PorkInsider said:
Deep Thought said:
Though maybe not as compelling as the suggestion of a 2020 delivery miles car for under £40K...
It's nearly a year old, it's not delivery mileage and it's nowhere near 'under £40k', but other than that...
I said delivery miles, not 2020. There was a couple of 69 plates at just under £40k with less than 100 miles on them, hence delivery miles, hence under £40k and at 2.9% apr.
It was in context of 5 year old 50k miles examples now all above £30k and at 12.9% apr.
They were linked to on this thread...
https://www.pistonheads.com/gassing/topic.asp?h=0&...
It seems they are now all sold. Not really surprising.
£6400 down and £334 a month for an M4 with less than 100 miles on it is, was a pretty tempting price.
£39900
£6400 down
47 x £334
Throttlebody said:
Never good to quote out of context. Best to follow the full dialogue.
You really are pushing the boundaries of trolling. If you are just messing with people on here, you are a tt. If you really believe what you type, you are an even bigger one. So, the end result is broadly the same. Whether the entire car industry comes crashing down or not, finding joy in others misfortune is truly pathetic. You can try to hide behind "clever" sidestepping, but who you are as a person is clear.
A t
t. Camelot1971 said:
Throttlebody said:
Never good to quote out of context. Best to follow the full dialogue.
You really are pushing the boundaries of trolling. If you are just messing with people on here, you are a tt. If you really believe what you type, you are an even bigger one. So, the end result is broadly the same. Whether the entire car industry comes crashing down or not, finding joy in others misfortune is truly pathetic. You can try to hide behind "clever" sidestepping, but who you are as a person is clear.
A t
t. Edited by HTP99 on Wednesday 15th July 22:58
HTP99 said:
Camelot1971 said:
Throttlebody said:
Never good to quote out of context. Best to follow the full dialogue.
You really are pushing the boundaries of trolling. If you are just messing with people on here, you are a tt. If you really believe what you type, you are an even bigger one. So, the end result is broadly the same. Whether the entire car industry comes crashing down or not, finding joy in others misfortune is truly pathetic. You can try to hide behind "clever" sidestepping, but who you are as a person is clear.
A t
t. Edited by HTP99 on Wednesday 15th July 22:58
Just ignore him.
MellowshipSlinky said:
Nefos said:
Something for this thread of future:
I was applying for a personal loan to buy a car from Tescos. I have a very good credit score (checked from experian) and apparently I would have 95% chance to get accepted from AA, but tescos rejected me (applied there because of family recommendation). It can be a sign that many cheap and easy lenders will lend money out harder so a slow down can happen easily.
To be fair I am happy, as I was looking at Audi S3 8Ps, and at £7k ish prices there were only ropey ones with loads undocumented tunes and such, but I managed to find an Alfa Romeo GT for cheap, and I can afford to maintain this car well easily
The days of easy money are coming to an end I think.I was applying for a personal loan to buy a car from Tescos. I have a very good credit score (checked from experian) and apparently I would have 95% chance to get accepted from AA, but tescos rejected me (applied there because of family recommendation). It can be a sign that many cheap and easy lenders will lend money out harder so a slow down can happen easily.
To be fair I am happy, as I was looking at Audi S3 8Ps, and at £7k ish prices there were only ropey ones with loads undocumented tunes and such, but I managed to find an Alfa Romeo GT for cheap, and I can afford to maintain this car well easily
I’ve bought many cars over the last 30 plus years, some in finance, and have never had a problem.
Also bought vans for work with no finance issues.
I’ve now ordered a new van for work and I’m putting in a 30% deposit and taking the 0% finance.
This time, the finance company called me and I had to answer about 10 questions as to how my work load is, if the virus had affected me work wise, how I see future work coming etc.
My credit rating is very high, so I can only assume lenders are taking all precautions now.
Much of this is still to play out with payment holidays extended to Nov and post furlough effects still to come.
Addressing the elephant in the room so far this month I know of 4 people who have lost their jobs in the motor trade. C19 has had an effect but I also feel they were jobs that were probably at risk.
One sells cars for a large rental company, the company has decided they don’t really need people driving around selling cars so fewer people can do it more centralised.
Two are fleet / business managers, both groups have trimmed down the numbers and in both cases replaced the client facing managers with a cheaper administrative role under existing business managers. As above a modern company does not really need someone going out to customers all the time when people like us order multiple vehicles via email.
The fourth is a service advisor at a main dealer, they have 12 service advisors (part and full time) plus supervisors and managers. Knowing her time keeping I would say it was probably a tactical decision.
As with most industries there are going to be cut backs and C19 has given bosses time to see what works. Hopefully these people will find suitable roles in the future.
As for car sales, from what I see all is currently good.
One sells cars for a large rental company, the company has decided they don’t really need people driving around selling cars so fewer people can do it more centralised.
Two are fleet / business managers, both groups have trimmed down the numbers and in both cases replaced the client facing managers with a cheaper administrative role under existing business managers. As above a modern company does not really need someone going out to customers all the time when people like us order multiple vehicles via email.
The fourth is a service advisor at a main dealer, they have 12 service advisors (part and full time) plus supervisors and managers. Knowing her time keeping I would say it was probably a tactical decision.
As with most industries there are going to be cut backs and C19 has given bosses time to see what works. Hopefully these people will find suitable roles in the future.
As for car sales, from what I see all is currently good.
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