Will Coronavirus hit used car prices? (Vol 2)
Discussion
Vroomer said:
Or maybe just the opposite.
There will always be those who prefer ICE to EV, so ICE might surge as used supply diminishes.
There will but look at what the majority will be doing, There will always be those who prefer ICE to EV, so ICE might surge as used supply diminishes.
Out there on the roads what percentage of new cars are fleet vehicles?
I’d say a large proportion!
What percentage are the pcp’ers that are stuck in the pcp cycle and will have to replace every 3-4yrs?
Again I’d say that’s a large portion
Motability cars again every 3 yrs a large proportion
Whereas private buyers I’d say it’s a smaller percentage and petrolheads are an even smaller percentage
So when manufacturers do away with ice cars the only ppl affected rly are the private buyers and petrol heads because whatever car they’re looking to trade in the dealers won’t give a good trade in price in my opinion!
How many
av185 said:
Macron said:
Actually no, as very very few people HAVE to buy cars. People may WANT to buy cars, but very few indeed have to. So they won't be forced to do anything. Many will "stick" with what they have.
Unconvincing.Give me a compelling reason why I have too
Back to the mortgages, if you have a high ltv you may be better off not paying lump sums off in case the s
t really hits the fan. Lenders tend to favour a forbearance strategy rather than repossession when they're underwater.
Not an official economic indicator but I'm noticing motorbike trackdays aren't getting booked up anywhere near like last year.
t really hits the fan. Lenders tend to favour a forbearance strategy rather than repossession when they're underwater.Not an official economic indicator but I'm noticing motorbike trackdays aren't getting booked up anywhere near like last year.
Abdul Abulbul Amir said:
Back to the mortgages, if you have a high ltv you may be better off not paying lump sums off in case the st really hits the fan. Lenders tend to favour a forbearance strategy rather than repossession when they're underwater.
Not an official economic indicator but I'm noticing motorbike trackdays aren't getting booked up anywhere near like last year.
My ltv is 29% ultimately it depends on what you want to do doesn’t it and your priorities, for me I’ve owned this house for 9yrs I made the decision back in 2020 to start overpaying and I relinquished my own car for a company car which made me better off, now that rates are going up all I’ve done is increase how much I overpay which is lowering the payments, I’m personally happy with what I’m doingt really hits the fan. Lenders tend to favour a forbearance strategy rather than repossession when they're underwater.Not an official economic indicator but I'm noticing motorbike trackdays aren't getting booked up anywhere near like last year.
av185 said:
Unconvincing.
Well I suppose I could permanently spout my own opinion as fact and use 20 specialist, expensive impractical cars for sale as a permanent barometer for an entire market, but I still have never met anyone who woke in the morning to find someone holding a gun to their head, telling them they absolutely HAD to buy a new car. Macron said:
Well I suppose I could permanently spout my own opinion as fact and use 20 specialist, expensive impractical cars for sale as a permanent barometer for an entire market, but I still have never met anyone who woke in the morning to find someone holding a gun to their head, telling them they absolutely HAD to buy a new car.
Once you've bought 1 car that way nothing else can compares. Tried choking myself test driving a model S, didn't buy it.Just to add some real world experience, I work at a car supermarket and other than a couple of months last year, the last two month's have been record months. This month has been a bit slower, which is no surprise given the mass of confidence-sapping world events.
There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
thelostboy said:
Just to add some real world experience, I work at a car supermarket and other than a couple of months last year, the last two month's have been record months. This month has been a bit slower, which is no surprise given the mass of confidence-sapping world events.
There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
How many cars did your place sell in jan/feb/March/April?There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
As I said earlier in the thread in March or April I can’t remember which Tbf the bodyshop next to us works with Arnold Clarke, they told him usually they sell 600 cars a month but that month they only sold 200 and expect not to sell 600 again for quite some time
Honda with 300+ miles of range for £20k, potentially lots waiting for something like that. https://asia.nikkei.com/Spotlight/Electric-cars-in...
Crusoe said:
Honda with 300+ miles of range for £20k, potentially lots waiting for something like that. https://asia.nikkei.com/Spotlight/Electric-cars-in...
£30k when it lands here no doubt.Teebs said:
Crusoe said:
Honda with 300+ miles of range for £20k, potentially lots waiting for something like that. https://asia.nikkei.com/Spotlight/Electric-cars-in...
£30k when it lands here no doubt.Earthdweller said:
av185 said:
Macron said:
Actually no, as very very few people HAVE to buy cars. People may WANT to buy cars, but very few indeed have to. So they won't be forced to do anything. Many will "stick" with what they have.
Unconvincing.Give me a compelling reason why I have too
Folks love changing their cars.
A few obvious examples of those sectors who are more likely to have to buy cars
Companies
Fleets
PCPers stuck on the merrygoround
Service sector
Private sector buyers.
I could go on but you get the picture.
And this excludes those who just want to buy cars.
Please bear in mind the car market where you are in Accrington (even though you claim it is an up and coming Manchester suburb lol) does not necessarilly represent the broader UK typical car market.
Edited by av185 on Monday 16th May 11:03
thelostboy said:
Just to add some real world experience, I work at a car supermarket and other than a couple of months last year, the last two month's have been record months. This month has been a bit slower, which is no surprise given the mass of confidence-sapping world events.
There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
So there we have it from the bellweather of the used car market, the car supermarket.There will be a gentle decline of used car prices, but the fact remains that there was virtually nothing built in the last couple of years. That virtually makes a '19 plate car a '21 plate car. Appreciate that is hard to accept, even as someone who deals with it everyday.
Straight from the horses mouth so to speak.
The last two months have been a record two months.
but probably quite accurate in many casesEarthdweller said:
av185 said:
Macron said:
Actually no, as very very few people HAVE to buy cars. People may WANT to buy cars, but very few indeed have to. So they won't be forced to do anything. Many will "stick" with what they have.
Unconvincing.Give me a compelling reason why I have too
I HAVE to buy a new (or used) car.
av185 said:
Earthdweller said:
av185 said:
Macron said:
Actually no, as very very few people HAVE to buy cars. People may WANT to buy cars, but very few indeed have to. So they won't be forced to do anything. Many will "stick" with what they have.
Unconvincing.Give me a compelling reason why I have too
Folks love changing their cars.
A few obvious examples of those sectors who are more likely to have to buy cars
Companies
Fleets
PCPers stuck on the merrygoround
Service sector
Private sector buyers.
I could go on but you get the picture.
And this excludes those who just want to buy cars.
Please bear in mind the car market where you are in Accrington (even though you claim it is an up and coming Manchester suburb lol) does not necessarilly represent the broader UK typical car market.
Edited by av185 on Monday 16th May 11:03
I could go out and buy pretty much anything I fancied within reasonable criteria, half down and half to finance but having had the utilities bills go up by close to £200, plus a raft of other increases its made me less confident. Still have a decent amount spare each month, no debts and am spending but not keen on taking on a big purchase that I dont need to.
There is another increase to the price cap due with the attendant knock ons, we have two cars that are both in fine fettle and cash in the bank but really not that bothered enough to go buying stuff.
Were considering Mustangs, but fuel has gone up massively and currently the cars themselves are expensive. Might do the you only live once thing and just go for it but at the moment, its not a priority.
I can see us paying £500 to 600 a month for Gas and Electric in 12 months, still, as long as Shell etc are doing well
Gassing Station | General Gassing | Top of Page | What's New | My Stuff