Will Coronavirus hit used car prices?
Discussion
Joey Deacon said:
Spot on, this is why Nandos is always packed, under £15 a head and you know exactly what you are getting. At the end of the day it is only chicken and chips, but it caters to the middle who don't want McDonalds and don't want to pay rip of prices for Brakes food reheated by a teenager.
Look at chains such as Chiquito, Frankie and Benny's, Garfunkle's, TGI Friday, Las Iguanas, Cafe Rouge etc. who are all massively in trouble now. People are just not prepared to pay the prices for very average food in an average place for reheated food with a fake international theme.
Casual dining was clearly a 2000s fad, the food may have been good at the start but the constant cost cutting by the management has killed off their customers.
Joining in the derail to say I've been to a Café Rouge just once and couldn't believe how bad it was for the prices charged. Such a laughable, shameless, cynical effort that they fully deserve to go under, though obvs I don't wish ill on the staffLook at chains such as Chiquito, Frankie and Benny's, Garfunkle's, TGI Friday, Las Iguanas, Cafe Rouge etc. who are all massively in trouble now. People are just not prepared to pay the prices for very average food in an average place for reheated food with a fake international theme.
Casual dining was clearly a 2000s fad, the food may have been good at the start but the constant cost cutting by the management has killed off their customers.
Throttlebody said:
Scootersp said:
Furlough was great to stop panic and let people adhere to the lockdown.
The easing of furlough in stages will smooth any redundancies and also give the government a monthly 'how bad' factor.
Right now you get 80% from the government and paid 80% to the employee so nil company cost (think about future decisions)
In August companies have to pay the ER's NI and pension costs, this is % of salary wise not much and so if this alone causes high job losses it'll be a bad indicator, as it'll basically be saying even expending £100-200 a month isn't worth it ie their job is definitely gone/redundant almost regardless of the recovery type.(let go the worse cases/the jobs in the balance beforehand)
Then it moves to the company gets 60% but has to topup the 20% so the employee gets the usual 80% this will probably see the most losses IMO, as it forces the company accept the new (current at that time) norm and staff accordingly, they may even be harsh knowing that recruiting should be easier than normal and that remaining staff might even be more motivated/productive? (forced to cut down to what's workable for your new turnover)
So what does that mean in general, well I think we all have spoken to friends and family and heard of people being made redundant or surviving a round of redundancies, or worried one is coming up. I've also heard people finding new work, but the biggest worry is as furlough removal bites is that you get far more people out of work than jobs available. There is a potential complacency about getting another job as frankly in my 47 year lifetime if you wanted work it's there, but we may be heading towards a period where it's very very tough. If that does happen and we know people out of work for long stretches then even the most optimistic might start saving more/preparing and that can then impact economically and cause a larger contraction.
Honestly who is truely expanding right now that is not at the cost of someone else? Supermarkets alcohol take must be through the roof but that's at the expense of pubs, so no net job gain, perhaps there has been til now as millions were/are furloughed so the busy internet etc companies will have had to recruit from the currently unemployed/recently made redundant.
It's hard to not see high redundancies coming and it's also hard (for me) to see the sectors that will be recruiting in any significant numbers, I like to think I'm realistic, I know others see anything that's not optimistic as pessimistic (that's probably why they're an optimist!) but I'm just saying what I'm seeing an hearing and extrapolating a bit.
As for cars, if the friend and friend of friend bad news stories start to rack up I can see people reigning spending in and cars will be part of that.
Before I get slated for taking joy in others misfortune I would like to wish everyone luck in keeping as much of a status quo in their life as possible over the next few years.
Quality post. The easing of furlough in stages will smooth any redundancies and also give the government a monthly 'how bad' factor.
Right now you get 80% from the government and paid 80% to the employee so nil company cost (think about future decisions)
In August companies have to pay the ER's NI and pension costs, this is % of salary wise not much and so if this alone causes high job losses it'll be a bad indicator, as it'll basically be saying even expending £100-200 a month isn't worth it ie their job is definitely gone/redundant almost regardless of the recovery type.(let go the worse cases/the jobs in the balance beforehand)
Then it moves to the company gets 60% but has to topup the 20% so the employee gets the usual 80% this will probably see the most losses IMO, as it forces the company accept the new (current at that time) norm and staff accordingly, they may even be harsh knowing that recruiting should be easier than normal and that remaining staff might even be more motivated/productive? (forced to cut down to what's workable for your new turnover)
So what does that mean in general, well I think we all have spoken to friends and family and heard of people being made redundant or surviving a round of redundancies, or worried one is coming up. I've also heard people finding new work, but the biggest worry is as furlough removal bites is that you get far more people out of work than jobs available. There is a potential complacency about getting another job as frankly in my 47 year lifetime if you wanted work it's there, but we may be heading towards a period where it's very very tough. If that does happen and we know people out of work for long stretches then even the most optimistic might start saving more/preparing and that can then impact economically and cause a larger contraction.
Honestly who is truely expanding right now that is not at the cost of someone else? Supermarkets alcohol take must be through the roof but that's at the expense of pubs, so no net job gain, perhaps there has been til now as millions were/are furloughed so the busy internet etc companies will have had to recruit from the currently unemployed/recently made redundant.
It's hard to not see high redundancies coming and it's also hard (for me) to see the sectors that will be recruiting in any significant numbers, I like to think I'm realistic, I know others see anything that's not optimistic as pessimistic (that's probably why they're an optimist!) but I'm just saying what I'm seeing an hearing and extrapolating a bit.
As for cars, if the friend and friend of friend bad news stories start to rack up I can see people reigning spending in and cars will be part of that.
Before I get slated for taking joy in others misfortune I would like to wish everyone luck in keeping as much of a status quo in their life as possible over the next few years.
All April to June data will be poor to horrific, but that was always a given, it's the data now and the next few months that will be more telling, through to the time of complete removal of the various forms of support........more knowledge of and effective actions against the virus would relax things and make us all more positive, but as this is not forthcoming you have to think what they do know so far isn't great news?, or at best there are no certainties.
If the stories of quickly reducing antibodies in recovered people and strain variations/mutations etc are true and that it'll be hard to not have it keep coming back then it sets up a difficult situation for us all. I was pretty certain I'd had it and so had a renewed confidence to be out and about now that's waning a bit, confidence drops off at the thought of reinfection (even if not in recent times in the years to come/as you get older) I could put my vulnerable parents at risk, they may be semi isolating forever!?.
Still little clarity and uncertainty is not great for business or us as individuals..
If the stories of quickly reducing antibodies in recovered people and strain variations/mutations etc are true and that it'll be hard to not have it keep coming back then it sets up a difficult situation for us all. I was pretty certain I'd had it and so had a renewed confidence to be out and about now that's waning a bit, confidence drops off at the thought of reinfection (even if not in recent times in the years to come/as you get older) I could put my vulnerable parents at risk, they may be semi isolating forever!?.
Still little clarity and uncertainty is not great for business or us as individuals..
Algarve said:
Venisonpie said:
Sorry, a little balance. Nando's is not middle ground. It's chav central, low end crap that people get fooled into paying more than maccies etc.
Yeah I wouldn't call it middle ground either. Fast food with cutlery maybe. 
Court_S said:
Algarve said:
Venisonpie said:
Sorry, a little balance. Nando's is not middle ground. It's chav central, low end crap that people get fooled into paying more than maccies etc.
Yeah I wouldn't call it middle ground either. Fast food with cutlery maybe. spikeyhead said:
Court_S said:
Algarve said:
Venisonpie said:
Sorry, a little balance. Nando's is not middle ground. It's chav central, low end crap that people get fooled into paying more than maccies etc.
Yeah I wouldn't call it middle ground either. Fast food with cutlery maybe. jammy-git said:
August is when layoffs will start? There's been a huge amount of redundancies this month. They've already started! And there will be every month for the rest of the year most likely.
Then Brexit hits.
Let's guess what the solution will be - mass immigration and concreting over the countrysideThen Brexit hits.
Some very deep in depth comments here!
Just my experience. I bought a Golf R in January for £14750 from a dealer. Come end of March/April, I was unsure of my job stability and furlough hadn't been announced. So I contacted a dealer which was advertising a shed for £3000 and asked what they would give for mine, £14500! So off went the Golf.
They then sold the R for £16500 in mid May?!
I have just had confirmation my job is safe, so wanted something nice. Decided to look for an S3. Found one on autotrader pre advertised (no photos) via Audi Approved. They were offering a 2 Year approved warranty and loads of other freebies like Key Insurance etc. Contacted them the day it came up, and they had 5 other people interested in it. I made my offer (£600 less) and said take it or leave it. Whether or not they actually had another 5 people interested in it or not, they ended up calling me that day and accepted my offer (including free delivery)
Just spoke to the Audi Finance Guy earlier, as I’m HP’ing half of it for 2 years. The poor guy was obviously very stressed and over it. He said it’s been incredible the amount of cars they’re selling. Half the staff are on furlough and he’s done 15 application on finance just today... (that was at 1pm.
I think there’s definitely a used car boom happening, but come September I think a lot of people will be in trouble.
Just my experience. I bought a Golf R in January for £14750 from a dealer. Come end of March/April, I was unsure of my job stability and furlough hadn't been announced. So I contacted a dealer which was advertising a shed for £3000 and asked what they would give for mine, £14500! So off went the Golf.
They then sold the R for £16500 in mid May?!
I have just had confirmation my job is safe, so wanted something nice. Decided to look for an S3. Found one on autotrader pre advertised (no photos) via Audi Approved. They were offering a 2 Year approved warranty and loads of other freebies like Key Insurance etc. Contacted them the day it came up, and they had 5 other people interested in it. I made my offer (£600 less) and said take it or leave it. Whether or not they actually had another 5 people interested in it or not, they ended up calling me that day and accepted my offer (including free delivery)
Just spoke to the Audi Finance Guy earlier, as I’m HP’ing half of it for 2 years. The poor guy was obviously very stressed and over it. He said it’s been incredible the amount of cars they’re selling. Half the staff are on furlough and he’s done 15 application on finance just today... (that was at 1pm.
I think there’s definitely a used car boom happening, but come September I think a lot of people will be in trouble.
CJ1 said:
Some very deep in depth comments here!
Just my experience. I bought a Golf R in January for £14750 from a dealer. Come end of March/April, I was unsure of my job stability and furlough hadn't been announced. So I contacted a dealer which was advertising a shed for £3000 and asked what they would give for mine, £14500! So off went the Golf.
They then sold the R for £16500 in mid May?!
I have just had confirmation my job is safe, so wanted something nice. Decided to look for an S3. Found one on autotrader pre advertised (no photos) via Audi Approved. They were offering a 2 Year approved warranty and loads of other freebies like Key Insurance etc. Contacted them the day it came up, and they had 5 other people interested in it. I made my offer (£600 less) and said take it or leave it. Whether or not they actually had another 5 people interested in it or not, they ended up calling me that day and accepted my offer (including free delivery)
Just spoke to the Audi Finance Guy earlier, as I’m HP’ing half of it for 2 years. The poor guy was obviously very stressed and over it. He said it’s been incredible the amount of cars they’re selling. Half the staff are on furlough and he’s done 15 application on finance just today... (that was at 1pm.
I think there’s definitely a used car boom happening, but come September I think a lot of people will be in trouble.
Agreed.Just my experience. I bought a Golf R in January for £14750 from a dealer. Come end of March/April, I was unsure of my job stability and furlough hadn't been announced. So I contacted a dealer which was advertising a shed for £3000 and asked what they would give for mine, £14500! So off went the Golf.
They then sold the R for £16500 in mid May?!
I have just had confirmation my job is safe, so wanted something nice. Decided to look for an S3. Found one on autotrader pre advertised (no photos) via Audi Approved. They were offering a 2 Year approved warranty and loads of other freebies like Key Insurance etc. Contacted them the day it came up, and they had 5 other people interested in it. I made my offer (£600 less) and said take it or leave it. Whether or not they actually had another 5 people interested in it or not, they ended up calling me that day and accepted my offer (including free delivery)
Just spoke to the Audi Finance Guy earlier, as I’m HP’ing half of it for 2 years. The poor guy was obviously very stressed and over it. He said it’s been incredible the amount of cars they’re selling. Half the staff are on furlough and he’s done 15 application on finance just today... (that was at 1pm.
I think there’s definitely a used car boom happening, but come September I think a lot of people will be in trouble.
There's still plenty of sad debt junkies out there trying to assuage their feelings of failure and inadequacy and wanting to be seen driving around in cars they can't afford to buy
Went to a Nando’s once, I would say 2006.
Didn’t get it.
Had to wait to be seated.
Put near the toilets.
Then had to get up to order.
What the f
k is that about? If you tell me where to sit I at least expect you to do the fetch and carry routines... food was forgettable too. Swore I would never go to one again, and 14 years later still counting
Didn’t get it.
Had to wait to be seated.
Put near the toilets.
Then had to get up to order.
What the f
k is that about? If you tell me where to sit I at least expect you to do the fetch and carry routines... food was forgettable too. Swore I would never go to one again, and 14 years later still counting Powerfully Built Company Director said:
Went to a Nando’s once, I would say 2006.
Didn’t get it.
Had to wait to be seated.
Put near the toilets.
Then had to get up to order.
What the fk is that about? If you tell me where to sit I at least expect you to do the fetch and carry routines... food was forgettable too. Swore I would never go to one again, and 14 years later still counting
Nados is great! Didn’t get it.
Had to wait to be seated.
Put near the toilets.
Then had to get up to order.
What the f
k is that about? If you tell me where to sit I at least expect you to do the fetch and carry routines... food was forgettable too. Swore I would never go to one again, and 14 years later still counting If you're 16.
I have had two, once around 15 years ago, thought the same as you.
Had my second two weeks ago, my daughter and her husband, 26 and 27 are back with us and they wanted one so we got a take away.
I genuinely thought it was crap. I try not to ever eat KFC, but to me that is far more enjoyable.
But Nandos seem to be getting it right with a lot of people, and good we have choice I suppose.
TooLateForAName said:
Nissan is planning a 30% year-on-year cut in global vehicle production through December as falling demand due to the coronavirus complicates its efforts to recover profitability, Reuters reports.
Like the Nissan. I should have kept the Micra to support the brand.All the big manufacturers already know what’s coming down the tracks, less demand, lower sales, financial disruption.
Throttlebody said:
TooLateForAName said:
Nissan is planning a 30% year-on-year cut in global vehicle production through December as falling demand due to the coronavirus complicates its efforts to recover profitability, Reuters reports.
Like the Nissan. I should have kept the Micra to support the brand.All the big manufacturers already know what’s coming down the tracks, less demand, lower sales, financial disruption.
Do you think buying the odd filter off them at a few pounds (then wasting a salespersons time talking about a car you'd no intentions of buying) would have helped them greatly?
Edited by Deep Thought on Friday 17th July 10:33
ettore said:
Chippy miserabilist!
Personally I'd rather be in the chippy miserablist's shoes than the irresponsible debt junky's right now, no? Though I suppose as you watch the bailiff change the locks on your front door one can console one's wife and kids with the story of how awesome it was to have x high performance cars for a few years...growlerowl said:
ettore said:
Chippy miserabilist!
Personally I'd rather be in the chippy miserablist's shoes than the irresponsible debt junky's right now, no? Though I suppose as you watch the bailiff change the locks on your front door one can console one's wife and kids with the story of how awesome it was to have x high performance cars for a few years...Debt junkies don't even need to worry about losing their jobs anymore as the government will pay them to stay at home via Furlough whilst allowing them a payment holiday and making it impossible for them to be evicted should the worst happen.
I do sometimes wonder why I bother to be sensible.
growlerowl said:
ettore said:
Chippy miserabilist!
Personally I'd rather be in the chippy miserablist's shoes than the irresponsible debt junky's right now, no? Though I suppose as you watch the bailiff change the locks on your front door one can console one's wife and kids with the story of how awesome it was to have x high performance cars for a few years...Comment was about miserable and cynical language - more revealing of the author than the comment.
Joey Deacon said:
growlerowl said:
ettore said:
Chippy miserabilist!
Personally I'd rather be in the chippy miserablist's shoes than the irresponsible debt junky's right now, no? Though I suppose as you watch the bailiff change the locks on your front door one can console one's wife and kids with the story of how awesome it was to have x high performance cars for a few years...Debt junkies don't even need to worry about losing their jobs anymore as the government will pay them to stay at home via Furlough whilst allowing them a payment holiday and making it impossible for them to be evicted should the worst happen.
I do sometimes wonder why I bother to be sensible.
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