Will Coronavirus hit used car prices?
Discussion
Fast Bug said:
Deep Thought said:
Definitely seems to have peaked....
Or they won't get it through the auction until late November at best and December is usually a quiet time in the motor trade with dealers buying less stockDeep Thought said:
Fast Bug said:
Deep Thought said:
Definitely seems to have peaked....
Or they won't get it through the auction until late November at best and December is usually a quiet time in the motor trade with dealers buying less stockWill be interesting to see what happens in January.
jammy-git said:
Deep Thought said:
Fast Bug said:
Deep Thought said:
Definitely seems to have peaked....
Or they won't get it through the auction until late November at best and December is usually a quiet time in the motor trade with dealers buying less stockWill be interesting to see what happens in January.
I assume for new car dealers it would be early in the month.
Maybe some of the current dealers / salespeople / traders can comment on recent experience?
I'm not a trader but have repeatedly found some great deals can be done in January, even early February but the market starts to pick up through February and gets a lot busier in the Spring.
Next year however, I'm not sure any of us know! I certainly wouldn't expect the post-lockdown spike seen in June this year.
Next year however, I'm not sure any of us know! I certainly wouldn't expect the post-lockdown spike seen in June this year.
Limp Mode said:
Things are still selling fairly quick. I've watched a few things disappear from dealers pages quite quick.
Are people really buying second hand cars without even looking at them? No test drive or anything?? Very brave.
Yes. The internet is flush with people putting a deposit down blind if the price is right and simply hoping for the best. Appears to be plenty of money around for top of the range used cars at the moment. Are people really buying second hand cars without even looking at them? No test drive or anything?? Very brave.
Distance buying is 'the thing'....I've pulled out of a few deals lately having done due diligence, on a couple of occasions the pics didn't even make AT before they vanished....priced right and it will move quickly.
slowpeddler65 said:
Yes. The internet is flush with people putting a deposit down blind if the price is right and simply hoping for the best. Appears to be plenty of money around for top of the range used cars at the moment.
Distance buying is 'the thing'....I've pulled out of a few deals lately having done due diligence, on a couple of occasions the pics didn't even make AT before they vanished....priced right and it will move quickly.
That's probably why I'm not getting anything back when I'm asking about things like service history and cambelts and the likes. If people are just blind buying anything without even looking at it, why bother wasting time with people that want to actually enquire about things. Distance buying is 'the thing'....I've pulled out of a few deals lately having done due diligence, on a couple of occasions the pics didn't even make AT before they vanished....priced right and it will move quickly.
Limp Mode said:
slowpeddler65 said:
Yes. The internet is flush with people putting a deposit down blind if the price is right and simply hoping for the best. Appears to be plenty of money around for top of the range used cars at the moment.
Distance buying is 'the thing'....I've pulled out of a few deals lately having done due diligence, on a couple of occasions the pics didn't even make AT before they vanished....priced right and it will move quickly.
That's probably why I'm not getting anything back when I'm asking about things like service history and cambelts and the likes. If people are just blind buying anything without even looking at it, why bother wasting time with people that want to actually enquire about things. Distance buying is 'the thing'....I've pulled out of a few deals lately having done due diligence, on a couple of occasions the pics didn't even make AT before they vanished....priced right and it will move quickly.
Theres ways of mitigating most of the risk, but its still a leap of faith.
Was thinking there - IF we are on the cusp of the vaccine being made available (seems very likely now), they start to roll it out to those in old peoples homes and the NHS this side of christmas and then on to the general public by age / risk from the new year onwards, we "could" potentially see no demand continuing / increasing again unabated?
Those that have discovered that they can work from home will continue to do so, possibly for some days of the week or month, rather than all of them. I can see me being in the office two or three days a week at most.
Those that bought a cheap car to commute into town rather than use the bus or train may well revert to public transport as it's more convenient or cheaper. There'll be a few that have taken to walking or cycling that will use that for a commute, and there'll be far few shop workers in town centres needing to commute.
Any vehicle that can be used for deliveries will continue to be popular.
Those that bought a cheap car to commute into town rather than use the bus or train may well revert to public transport as it's more convenient or cheaper. There'll be a few that have taken to walking or cycling that will use that for a commute, and there'll be far few shop workers in town centres needing to commute.
Any vehicle that can be used for deliveries will continue to be popular.
Having spoken to my ex dealer colleagues it looks like the market has turned drastically in the last two weeks. They are now averaging three cars a week between 7 salespeople, that’s new and used cars!
On another note. I’m now in the market for a 2010/2011 320d Efficient Dynamics as I will be doing some serious mileage soon. I was shocked to discover that 10 year old versions with 120,000+ miles are fetching £4000-£5000. Eight years ago I could get the equivalent cars for £1000-£2000 at a push as they were considered at the end of their life!
On another note. I’m now in the market for a 2010/2011 320d Efficient Dynamics as I will be doing some serious mileage soon. I was shocked to discover that 10 year old versions with 120,000+ miles are fetching £4000-£5000. Eight years ago I could get the equivalent cars for £1000-£2000 at a push as they were considered at the end of their life!
Fast Bug said:
HTP99 said:
Not particularly surprising, given showrooms are shut.
You mean many people want to actually see a used car before they buy it? And here was me thinking bricks and mortar dealerships were soon to be a thing of the past!Oh Yeahh, silly me, must be something else then!
HTP99 said:
Fast Bug said:
HTP99 said:
Not particularly surprising, given showrooms are shut.
You mean many people want to actually see a used car before they buy it? And here was me thinking bricks and mortar dealerships were soon to be a thing of the past!Oh Yeahh, silly me, must be something else then!
We’ve done alright, kept the lights on anyway, all hands back on deck from next Wednesday!
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