Will Coronavirus hit used car prices? (Vol 2)
Discussion
ghost83 said:
It’s not the last of buyers. It’s the lack of product which is causing these figures.Imagine what used car prices are going to be like for the next three years if there is no new stock coming through now…
NelsonM3 said:
It’s not the last of buyers. It’s the lack of product which is causing these figures.
Imagine what used car prices are going to be like for the next three years if there is no new stock coming through now…
Exactly.Imagine what used car prices are going to be like for the next three years if there is no new stock coming through now…
This is why the cost of living challenge for some demographics won't lead to a crash. The market is fragmenting with big thirsty stuff starting to struggle but that's all and even then it's not fallen off a cliff.
Figures compiled for Car Dealer by CarCondor.co.uk show that the Top 200 dealers shifted 157,793 used cars in April – a hefty 8.55 per cent down on March’s 172,547.
Revenue from the sale of second-hand cars from the Top 200 dealers was also down. April’s figure came to £3.27bn, representing a 10.411 per cent fall on March’s £3.65bn.
Cazoo founder Alex Chesterman has laid out the detail of his cost cutting plan as he attempts to ‘right size’ the dealer for a slowdown in used car buying.
Revenue from the sale of second-hand cars from the Top 200 dealers was also down. April’s figure came to £3.27bn, representing a 10.411 per cent fall on March’s £3.65bn.
Cazoo founder Alex Chesterman has laid out the detail of his cost cutting plan as he attempts to ‘right size’ the dealer for a slowdown in used car buying.
NelsonM3 said:
It’s not the last of buyers. It’s the lack of product which is causing these figures.
Imagine what used car prices are going to be like for the next three years if there is no new stock coming through now…
I think it is a mixed picture.Imagine what used car prices are going to be like for the next three years if there is no new stock coming through now…
The number is down on last year, despite this time last year being well into the shortages for many manufacturers and currently running without too many problems. So seeing numbers down on last year is quite surprising.
What won't be reflected in the registration figures is inventories of unregistered stock which dealers and fleet buyer are still keen to get their hands on, and perhaps isn't going out the door quite so quickly now.
Definitely feels like a slow down.
I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
The spinner of plates said:
Definitely feels like a slow down.
I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
Supply is slowly speeding up, ppl are skint and selling, going to be plenty of supply and not slot of demand,I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
My neighbours who have an Audi a1 and a jag xf they bought at start of pandemic they’re now selling as they can’t afford to run them and taking a loss on them to get rid
Have been looking at BMW 335D tourings' recently and they are still marked up very highly - including more private sellers advertising at franchise retail price's .
Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of f
k-all over the coming years.
Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of f
k-all over the coming years.oceanview said:
Have been looking at BMW 335D tourings' recently and they are still marked up very highly - including more private sellers advertising at franchise retail price's .
Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of fk-all over the coming years.
Yup, noticed that also. Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of f
k-all over the coming years.There’s plenty of punters chancing their arm whilst prices are firm - but not really motivated to sell.
For those that need to sell - just wait em out.
The spinner of plates said:
oceanview said:
Have been looking at BMW 335D tourings' recently and they are still marked up very highly - including more private sellers advertising at franchise retail price's .
Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of fk-all over the coming years.
Yup, noticed that also. Who knows if they're getting this but, some dealers/private sellers really don't want to budge, even on a car like this that, in theory, will be worth four fifths of f
k-all over the coming years.There’s plenty of punters chancing their arm whilst prices are firm - but not really motivated to sell.
For those that need to sell - just wait em out.
They're certainly not going to tank. Would probably make it into most people's top 5 all the car you'd ever need list.
ghost83 said:
The spinner of plates said:
Definitely feels like a slow down.
I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
Supply is slowly speeding up, ppl are skint and selling, going to be plenty of supply and not slot of demand,I’ve been tracking some used cars I’m interested in.
Prices starting to slip and plenty of stuff has been online for over 6 weeks now.
So not quite the gold-rush-buy-now-it-will-be-more-expensive-next-month a certain poster here predicted.
Still think I’ll wait though. End of Dec is always a decent time to sniff out the more desperate sellers willing to do a deal.
My neighbours who have an Audi a1 and a jag xf they bought at start of pandemic they’re now selling as they can’t afford to run them and taking a loss on them to get rid
Prices are all over the place with private cars often more than dealer cars with the number for sale increasing weekly and cars not selling
I’ve seen very similar age/condition/mileage cars with a £7k spread (£14k-22k)
Lots of posts on fb/owner groups of people selling to consolidate or saying selling … because not using it enough.. read between the lines
I know one chap, mint car, reasonably priced and not one call in two months
Another private car that is very rare (1/167) and absolutely mint with excellent provenance and long term ownership ..three months it’s been for sale .. not a bite
Ok the cars are niche but normally decent ones sell very quickly for good money
My feeling is that to get a buyer you’d have to be back below pre covid prices and expect to be battered down
Clearly though they aren’t Astra’s though
Some cars do still seem to be selling though, looking ast w205 C63's and it's a fairly weak market but the overall number for sale has levelled out and isn't increasing so it's not like none of them are selling. It feels like prices have dipped a tad but we are possibly still at the very early stages of any overall decline back to 'normal'.
I've been keeping track of X3's, discovery sports and SQ5's circa 2017/2018 for a while now (probably wouldn't do an sq5 now with the fuel) but they are certainly softening especially the Audi. Lots more Discovery's about for better money too, BMW is the only one that seems to be holding firm
Superflow said:
Big engined cars such as used V8s will struggle I imagine with petrol prices now.
I don’t understand people that buy them to do 2/3k miles per year what’s the point?
I used mine everyday I could.
I bought my V8 for use every day when my daily commute was 24 miles. Now it's 110 and I've had to resign myself to only using it for work once or twice a month. Still primary car at weekend though.I don’t understand people that buy them to do 2/3k miles per year what’s the point?
I used mine everyday I could.
QuattroDave said:
Superflow said:
Big engined cars such as used V8s will struggle I imagine with petrol prices now.
I don’t understand people that buy them to do 2/3k miles per year what’s the point?
I used mine everyday I could.
I bought my V8 for use every day when my daily commute was 24 miles. Now it's 110 and I've had to resign myself to only using it for work once or twice a month. Still primary car at weekend though.I don’t understand people that buy them to do 2/3k miles per year what’s the point?
I used mine everyday I could.
Use it or lose it.
Havent done this for a while, but a couple of people have been asking so heres the update.
Dec-19 £20,500
Jan-20 £20,000
Feb-20 £19,500
Mar-20 £12,270
Apr-20 Declined to offer
May-20 Declined to offer
Jun-20 £19,000
Jul-20 £21,000
Aug-20 £21,680
Sep-20 £23,000
Oct-20 £21,710
Nov-20 £20,790
Dec-20 £21,340
Jan-21 £20,210
Feb-21 £20,410
Mar-21 £19,445
Apr-21 £21,405
May-21 £23,700
Jun-21 £25,210
Jul-21 £25,410
Aug-21 £25,325
Sep-21 £26,365
Oct-21 £23,000
Nov-21 £21,135
Dec-21 £20,160
Jan-22 £21,000
Feb-22 £20,265
Mar-22 £17,585
Apr-22 £20,400
May-22 £20,500
Jun-22 £20,740
Dec-19 £20,500
Jan-20 £20,000
Feb-20 £19,500
Mar-20 £12,270
Apr-20 Declined to offer
May-20 Declined to offer
Jun-20 £19,000
Jul-20 £21,000
Aug-20 £21,680
Sep-20 £23,000
Oct-20 £21,710
Nov-20 £20,790
Dec-20 £21,340
Jan-21 £20,210
Feb-21 £20,410
Mar-21 £19,445
Apr-21 £21,405
May-21 £23,700
Jun-21 £25,210
Jul-21 £25,410
Aug-21 £25,325
Sep-21 £26,365
Oct-21 £23,000
Nov-21 £21,135
Dec-21 £20,160
Jan-22 £21,000
Feb-22 £20,265
Mar-22 £17,585
Apr-22 £20,400
May-22 £20,500
Jun-22 £20,740
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