Will Coronavirus hit used car prices? (Vol 2)
Discussion
mrdanbartlett said:
Demhcs said:
Would presume somebody like Audemars is probably maxed out on pension so maybe a VCT would better suit...?
Without wanting to massively drag this off topic, does anyone have a link to some good info about the pension thing? I have a pension and pay in each month, but I assume it's somewhat locked away until nearer my retirement (I'm 40) and yes I could pay more into it but then I have to hope the money grows at a better rate than I can invest it (or reduce mortgage debt) over the next 20+ years?
The real benefit is if you're a higher rate taxpayer then you're investing that before tax, so you're effectively saving yourself 40% tax. Any return from other sources is likely to be vastly outweighed by that in to a decent pension.
mrdanbartlett said:
I have a pension and pay in each month, but I assume it's somewhat locked away until nearer my retirement (I'm 40) and yes I could pay more into it but then I have to hope the money grows at a better rate than I can invest it (or reduce mortgage debt) over the next 20+ years?
e-honda said:
At 55 you can get access, you can take up to 25% as a tax free lump sum.
I'm not 100% sure and happy to be corrected, but I understand that if you're 40 (like me) we will have to wait until we're 58 to access any private pensions, i.e. 10 years before what will be a higher statutory retirement age. If you're a currently higher rate taxpayer additional contributions can make sense, esp if you're caught between 100k-125k (because you lose your personal allowance). Perhaps worthwhile speaking with an IFA to work out if additional contributions or paying down mortgage works best for you, or a combination of both.Wilmslowboy said:
Call from a BMW dealer group today who I had transacted with for 4 years, asking if I was in the mkt for a used car.
Back to the old days of having to drum up business ?
I've started receiving emails from lease brokers and a BMW finance "special offer" email in the last day or so.Back to the old days of having to drum up business ?
Nothing moving at all at Bentley and Rolls...most of the cars local to me have been there since Feb/March
Wilmslowboy said:
Call from a BMW dealer group today who I had transacted with for 4 years, asking if I was in the mkt for a used car.
Back to the old days of having to drum up business ?
If that is the case then I bet the salespeople are not happy. An end to the days where they had people fighting over every car and if you didn't immediately offer to buy at full asking they were not interested?Back to the old days of having to drum up business ?
Having to actually put any effort in and chase people for a sale? Thought those days were long gone
Wilmslowboy said:
Call from a BMW dealer group today who I had transacted with for 4 years, asking if I was in the mkt for a used car.
Back to the old days of having to drum up business ?
I don’t think they’ve stopped doing that even with restricted supply. My friend has a 140i and they’ve been trying to get him into a new car for 18 months.Back to the old days of having to drum up business ?
Joey Deacon said:
If that is the case then I bet the salespeople are not happy. An end to the days where they had people fighting over every car and if you didn't immediately offer to buy at full asking they were not interested?
Looking at how long a lot of cars have been on Autotrader for it doesn't seem to be anything like that at the moment. Saweep said:
Wilmslowboy said:
Call from a BMW dealer group today who I had transacted with for 4 years, asking if I was in the mkt for a used car.
Back to the old days of having to drum up business ?
I've started receiving emails from lease brokers and a BMW finance "special offer" email in the last day or so.Back to the old days of having to drum up business ?
Nothing moving at all at Bentley and Rolls...most of the cars local to me have been there since Feb/March
king nuts.Someone on the ID3 Facebook group was saying that VW are taking back his car to sell it to retail and saying no more EV's through their company scheme for the foreseeable.
He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
ChocolateFrog said:
Someone on the ID3 Facebook group was saying that VW are taking back his car to sell it to retail and saying no more EV's through their company scheme for the foreseeable.
He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
If enough people are able to access EVs, demand for fossil fuels, and price, should drop naturally, right? Hmm.He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
Back2theFuji said:
ChocolateFrog said:
Someone on the ID3 Facebook group was saying that VW are taking back his car to sell it to retail and saying no more EV's through their company scheme for the foreseeable.
He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
If enough people are able to access EVs, demand for fossil fuels, and price, should drop naturally, right? Hmm.He was pretty miserable as they'd given him a petrol car and he was able to charge the ID3 at work for free.
I can see used EV prices strengthening even further at this rate. £2p/l will be the tipping point for a lot of people I think.
The same will happen with ICE cars.
ChocolateFrog said:
Well horses got a lot cheaper when they were no longer essential didn't they? Oh wait, now they're a niche hobby and infinitely more expensive.
The same will happen with ICE cars.
Top breed horses were always expensive and owned by the wealthy, the cheap crap became glue when they became less economic to own than the new alternative. The same will happen with ICE cars.
EV is not more economic than cheap petrol cars, it's eye-watering expensive as an alternative for the majority. A very different scenario to how the horse and cart died.
jsf said:
Top breed horses were always expensive and owned by the wealthy, the cheap crap became glue when they became less economic to own than the new alternative.
EV is not more economic than cheap petrol cars, it's eye-watering expensive as an alternative for the majority. A very different scenario to how the horse and cart died.
EV’s are obviously cheaper to run excluding capital outlay and currently more economically viable that ICE cars for most of society as they are available are either company or salary sacrifice. My partner works for the NHS and lots of her colleagues are jumping on the salary sacrifice EV band wagon as it’s effectively a 40%+ discount on leasing a new car. EV is not more economic than cheap petrol cars, it's eye-watering expensive as an alternative for the majority. A very different scenario to how the horse and cart died.
Ironically this scheme takes money away from the public purse by a reduction in tax and NI.
Our company are looking at evs as well we are doing 1,000 miles minimum a week which apparantly costs the company £10,000 per year or 40k over the 4yrs
There’s even talk of the company paying for solar roofs and a Tesla power wall so the car can be charged for free they reckon it could save them money over 4-5yrs
There’s even talk of the company paying for solar roofs and a Tesla power wall so the car can be charged for free they reckon it could save them money over 4-5yrs
I've been humming and harring over getting a car for a while, I've always been approved for a personal loan for the car.
Today after seeing a car I could potentially like to buy, the online system rejected me despite nothing having changed.
I'm wondering if this is banks tightening their belts.
Today after seeing a car I could potentially like to buy, the online system rejected me despite nothing having changed.
I'm wondering if this is banks tightening their belts.
AlexNJ89 said:
I've been humming and harring over getting a car for a while, I've always been approved for a personal loan for the car.
Today after seeing a car I could potentially like to buy, the online system rejected me despite nothing having changed.
I'm wondering if this is banks tightening their belts.
No idea I just got approved for finance on a car for the wifeToday after seeing a car I could potentially like to buy, the online system rejected me despite nothing having changed.
I'm wondering if this is banks tightening their belts.
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