Will Coronavirus hit used car prices?

[Fusion777]

Short term economic outlook not looking brilliant with the rapid rise in cases and deaths. More areas going into higher tiers, clamours for stronger/national lockdowns now France and Germany have taken further action.

[Wilmslowboy]

There is either a glitch in the WBAC algo this morning, or the mkt has seen a 99% decline

Offered £7,000 last month, today £150

2018 Fiat 500

[Wilmslowboy]

Just tried the wife's 520d Msport 2012 touring


£150

[BrettMRC]

Wilmslowboy said:

Just tried the wife's 520d Msport 2012 touring


£150

I'll give you £250.

[anonymous-user]

Anyone in the commercial area of business? I need a new van, a large one unfortunately so they've increased in value because of the bounceback loans and the camper converters to a £10k plus VAT van from 6 months ago appears to be a £12k plus VAT van. Anyone seen a decrease in demand for these vehicles? Stock still appears to be short at most places.

[Wilmslowboy]

BrettMRC said:

Wilmslowboy said:

Just tried the wife's 520d Msport 2012 touring


£150

I'll give you £250.

There is £40 quid of diesel in the tank ????


I was going to put 4 brand new winters tyres on....but best not now.

[Deep Thought]

2019 BMW M140i - £150!

What do they know that we dont????

Edited by Deep Thought on Thursday 29th October 08:55

[vaud]

Deep Thought said:

2019 BMW M140i - £150!

What do they know that we dont????

Edited by Deep Thought on Thursday 29th October 08:55

That they have enough stock and no further demand for now?

[swisstoni]

My (ex) L405 has just gone up a grand on WBAC.

This may well be part of their ‘playing with your head’ that someone mentioned earlier rather than any indication of a trend.

Edited by swisstoni on Thursday 29th October 09:30

[Deep Thought]

vaud said:

Deep Thought said:

2019 BMW M140i - £150!

What do they know that we dont????

Edited by Deep Thought on Thursday 29th October 08:55

That they have enough stock and no further demand for now?

My question was tongue in cheek.

Its either a blip or they've concluded with lockdowns getting worse they going to close down again for a period and havent yet put up the holding page (which i doubt but maybe they will - stranger things have happened this year).

WBAC can never have "enough stock" to the point where they stop buying - its a constant production line of buying, selling and taking a small margin in between.

They will want to correct what their website is doing very quickly as thats not a very good customer experience.

Edited by Deep Thought on Thursday 29th October 09:57

[Deep Thought]

Deep Thought said:

2019 BMW M140i - £150!

What do they know that we dont????

Edited by Deep Thought on Thursday 29th October 08:55

They seem to have corrected it. I valued another car (to clear down the current valuation) then went back and valued the M140i.

Coming back now at £21,500 so seems to have been a glitch

[Wilmslowboy]

Dropped 10% off in a month - assume this is typical coming into winter.

The £150 was a glitch in the matrix.

[Hippea]

Speaking to a few friends in the trade, sales have fallen off a cliff in the past few weeks. They have described like a flick of a switch, they couldn’t keep up with demand over the summer and now they can’t give stock away.

[Deep Thought]

Hippea said:

Speaking to a few friends in the trade, sales have fallen off a cliff in the past few weeks. They have described like a flick of a switch, they couldn’t keep up with demand over the summer and now they can’t give stock away.

It will be interesting to see long it takes for that to translate in to detectably lower forecourt prices.

[anonymous-user]

Hippea said:

Speaking to a few friends in the trade, sales have fallen off a cliff in the past few weeks. They have described like a flick of a switch, they couldn’t keep up with demand over the summer and now they can’t give stock away.

True.

Last week I spoke to a few friends who work in sales and they said the last few months have been insane for sales numbers, but it had now just abruptly slowed to a trickle. Enquiries have totally dried up.

The guys I know call it 'the tap' and they are now saying 'the tap has just been turned off'.

Its kind of interesting how it hits all the brands and price brackets at the same time. Places like Ford and Kia will go dead at exactly the same time as Merc or BMW etc, and they will all get busy again at the same time.

[Welshbeef]

Hippea said:

Speaking to a few friends in the trade, sales have fallen off a cliff in the past few weeks. They have described like a flick of a switch, they couldn’t keep up with demand over the summer and now they can’t give stock away.

Value of mine has dropped £3k since moving into Oct.

[Welshbeef]

Wilmslowboy said:

There is £40 quid of diesel in the tank ????


I was going to put 4 brand new winters tyres on....but best not now.

Haha dealers give you zero for fuel in the tank so when parting mine I only ever fill up to 1/3rd and then when the day comes it’s on fumes

Conversely the car I end up buying has fumes too net net it works out.

[b80]

growlerowl said:

What's the general picture now then price wise? I still fancy a bargain V8

can't speak for other manufacturers but I've been monitoring Lexus ISF's and their prices have rocketed since lockdown.

[Vroomer]

b80 said:

can't speak for other manufacturers but I've been monitoring Lexus ISF's and their prices have rocketed since lockdown.

Looking at the posts above, that may be about to change...

[HB2K]

Just agreed to sell my Civic for £500 (i.e 5%) less than was worth 2 weeks ago. WBAC et al all dropped their offers by about that much. Not a good time to sell if you could avoid (which I couldn't as I put a deposit down on the replacement already!).