Will Coronavirus hit used car prices?

Will Coronavirus hit used car prices?

Author
Discussion

av185

12,405 posts

86 months

Friday 30th October
quotequote all
Mr Tidy said:
The Rotrex Kid said:
We (as a group) have sold exactly the same Humber of cars this October as last. If that helps!
Maybe going back to your Rootes. laugh
His relatives were famous Singers.

Court_S

3,542 posts

136 months

Friday 30th October
quotequote all
MuscleSedan said:
av185 said:
Evidently Cavapoos are getting way over Cap clean, even dogs.
laughlaughlaughlaugh

Funny you should mention that ...

Mrs looked at some Lhasapoos - £1k each !!!!
There’s been a few thing written about the cost of puppies rising due to demand. I guess with so many people now working from home, those who have put off getting a dog for ages have now decided to get one.

Court_S

3,542 posts

136 months

Friday 30th October
quotequote all
Deep Thought said:
2019 BMW M140i - £150!

What do they know that we dont???? eek

Edited by Deep Thought on Thursday 29th October 08:55
I joke about mine being worth 10p due to the number of them sold on aggressive finance deals...maybe it’s not such a joke! hehe



It was obviously a glitch.

Edited by Court_S on Friday 30th October 11:29

Deep Thought

27,748 posts

156 months

Friday 30th October
quotequote all
Court_S said:
Deep Thought said:
2019 BMW M140i - £150!

What do they know that we dont???? eek

Edited by Deep Thought on Thursday 29th October 08:55
I joke about mine being worth 10p due to the number of them sold on aggressive finance deals...maybe it’s not such a joke! hehe



It was obviously a glitch.

Edited by Court_S on Friday 30th October 11:29
hehe

Yes, clearly a glitch.

Relatively speaking they do hold their value quite well. Not fantastically so, but not bad.

RUSSELLM

5,557 posts

206 months

Sunday 1st November
quotequote all
I don’t know if this will effect used prices or not... but production of new cars is taking a hit at the moment, because of parts supply issues.

Presumably bits coming in from countries that are in various states of lockdown.


brightonpad

79 posts

110 months

Sunday 1st November
quotequote all
Will be interesting to see how this next lockdown affects things - I very much doubt we will see the 'pent up demand' that was experienced at the end of the last lockdown, which had already started slowing down (in fact I doubt we will come out of national restrictions on the 2nd, but that's a different topic...).

Whilst I'm sure those that qualify will appreciate the furlough extension, Christmas will be looming and I can't see used cars being forefront in peoples minds unless it's an absolutely necessary spend. I think people will overwhelmingly take a view of 'make do' and see how things pan out in the Spring. I'm certainly resigned to keeping our (thankfully small) stock in to next year...

jammy-git

25,949 posts

171 months

Sunday 1st November
quotequote all
If we stay in lockdown until early next year there could be one of two benefits to the government.

1) Any pent up demand helps to soften the blow of Brexit.
2) Any clusterfk of a Brexit shaped slump in the economy in January can be partially/entirely be blamed on the pandemic and "people not doing enough to slow the spread of the virus ".

It also gives Gove more ammo to push BoJo out of a job in the Spring to give the party a clear break in leadership to try and fix/continue with Brexit.

Vroomer

Original Poster:

1,511 posts

139 months

Monday 2nd November
quotequote all
WBAC stopped quoting prices pretty quickly after the first lockdown but they are still giving prices at the moment...maybe that's a weekend lag.

Showrooms and auctions have to close.

From gov.uk

To reduce social contact, the Government has ordered certain businesses and venues to close. These include:

all non-essential retail, including, but not limited to clothing and electronics stores, vehicle showrooms, travel agents, betting shops, auction houses, tailors, car washes, tobacco and vape shops.

Edited by Vroomer on Monday 2nd November 00:44

Fast Bug

8,868 posts

120 months

Monday 2nd November
quotequote all
Dealerships can still operate via click and collect and home deliveries

Anonymous-poster

11,487 posts

165 months

Monday 2nd November
quotequote all
Fast Bug said:
Dealerships can still operate via click and collect and home deliveries
How many staff will be left to operate this or will most be furloughed?

Fast Bug

8,868 posts

120 months

Monday 2nd November
quotequote all
Anonymous-poster said:
Fast Bug said:
Dealerships can still operate via click and collect and home deliveries
How many staff will be left to operate this or will most be furloughed?
Pass. Each dealership will be different.

Shadow R1

3,559 posts

135 months

Monday 2nd November
quotequote all
It's going to be interesting, but I don't think in a good way.

Most of the dealerships round here, only just started to get regular stock changes.
All the best to you in the trade. smile

sxmwht

380 posts

18 months

Monday 2nd November
quotequote all
ChocolateFrog said:
My GSD was £350 4 years ago, admittedly that was on the cheap end but the prices now, ridiculous.
GSD?

vikingaero

5,185 posts

128 months

Monday 2nd November
quotequote all
sxmwht said:
ChocolateFrog said:
My GSD was £350 4 years ago, admittedly that was on the cheap end but the prices now, ridiculous.
GSD?
German Shephard?

dunc_sx

1,250 posts

156 months

Monday 2nd November
quotequote all
Interesting thread this, there's not really much information like this about, especially feedback from used car dealers.

Keep up the good work thumbup

Fusion777

132 posts

7 months

Tuesday 3rd November
quotequote all
https://www.bbc.co.uk/news/uk-scotland-edinburgh-e...

Hitachi finance refusing to give car loans to people in hospitality sector.

av185

12,405 posts

86 months

Tuesday 3rd November
quotequote all
Sign of the times and to be expected.

drophead

1,025 posts

116 months

Tuesday 3rd November
quotequote all
Evans Halshaw have nipped £1200 off the COVID trade in price of my 2016 MINI Cooper SD in a week, and (surprisingly) that's £600 less than WBAC.

I always thought EH would offer a better price than WBAC?!

ETA: Was looking to sell within the next week but may just sit on it 'til lockdown lifts!


Edited by drophead on Tuesday 3rd November 22:40

Venisonpie

1,142 posts

41 months

Wednesday 4th November
quotequote all
I imagine the curve will follow the previous lock down. Fall off a cliff initially, low activity, then reduced supply as the market reopens and prices rise. Those who have cash but couldn't spend it will be chomping at the bit.
Furlough keeps people in jobs, tier 2 and 3 made them likely to be redundant.

Bemmer

732 posts

161 months

Wednesday 4th November
quotequote all
Getting reports today that showrooms,service departments and motor factoring businesses are staying open. ? BCA is definitely continuing with the online Auctions and delivery service.