Will Coronavirus hit used car prices? (Vol 2)

[Kev78]

I guessed wrong about the car market during lockdown. I got a cheap lease thinking prices would collapse. It’s a plug in hybrid to make things worse.

I’ve been tempted to buy for a couple of months. Recent events have put me off.

I have a feeling foreign buyers will help stabilise the housing market if the £ stays weak.

Edited by Kev78 on Thursday 29th September 13:15

[Macron]

Earthdweller said:

The GBP is now rising against every other major currency including the USD

Ah yes, we’re at $1.09 for a quid, which remains below the rate when Kwasi made his imbecilic mini budget last Friday. Your statement is absurdly disingenuous.

Earthdweller said:

This is a global issue not just a GBP one tbf

Global? How many other nations have, in the last week, had a stupid budget, have announced stupid tax cuts for the rich, have planned to continue spending against non-existent tax income, have had to bail out their pension funds, have been told “you’re fking stupid” by the IMF, and have their central bank governor now briefing against their actions?

Not even Venezuela are fking things up this badly. Wake up.

[time waster]

the fact they both went into lockdown, sums up the monumental mistake. As a new PM she should be celebrating the honeymoon. Thats long gone.

[nickfrog]

e-honda said:

I wonder if wbac prices will tank again or if they were able to forsee the risk of this happening and was why they slashed prices a couple of weeks ago.

None of our 3 cars have seen WBAC slashing. They've gone up.

[Earthdweller]

Macron said:

Global?

Wake up.

Absolutely, virtually every currency has been falling against the USD for a year

GBP is now £1.10 and still rising which is only 2c less than before kamikwazi’s budget announcement

The long term run of money to the USD is far more than a U.K. budget the same falls have been seen in the Euro and others .. a euro is still worth less than a dollar today, less than it was worth last week before Kwazi’s budget

How do you explain that ?

Perhaps you wake up

[911hope]

Earthdweller said:

Absolutely, virtually every currency has been falling against the USD for a year

GBP is now £1.10 and still rising which is only 2c less than before kamikwazi’s budget announcement

The long term run of money to the USD is far more than a U.K. budget the same falls have been seen in the Euro and others .. a euro is still worth less than a dollar today, less than it was worth last week before Kwazi’s budget

How do you explain that ?

Perhaps you wake up

Perhaps you are not aware that $1.10 to the pound is very very bad, and that interest rates quadrupling within weeks is very very bad.

[AlexNJ89]

I'm still getting offered 4.9% for a car loan from Lloyds.

That still seems low to me?

[leannek90]

The latest VinWiki video on the state of Super SUV prices in the US is interesting.

Surprised to hear the majority of sales of G63's was trade to trade.

Some dealer being left with 70+ G wagons for which they've paid upto $100k overs on when the music stopped.

[Earthdweller]

911hope said:

Earthdweller said:

Absolutely, virtually every currency has been falling against the USD for a year

GBP is now £1.10 and still rising which is only 2c less than before kamikwazi’s budget announcement

The long term run of money to the USD is far more than a U.K. budget the same falls have been seen in the Euro and others .. a euro is still worth less than a dollar today, less than it was worth last week before Kwazi’s budget

How do you explain that ?

Perhaps you wake up

Perhaps you are not aware that $1.10 to the pound is very very bad, and that interest rates quadrupling within weeks is very very bad.

It’s not a new thing nor just the GBP .. four major currencies same time frame, same pattern. I could add more but you get the picture

GBP :




Euro :



Yen:




Yuan :

[Hub]

nickfrog said:

e-honda said:

I wonder if wbac prices will tank again or if they were able to forsee the risk of this happening and was why they slashed prices a couple of weeks ago.

None of our 3 cars have seen WBAC slashing. They've gone up.

Same, a notable dip in the summer but now they keep emailing recently with 'good news, the value of your car has increased'.

I've been doing regular checks, and it has basically just fluctuated up and down between £6-8k since 2019, but essentially still the same as 3 years ago ('62 Focus ST estate - similar cars going for £9-10k on Auto trader)

2019
September: £6,750

2021
20 March 2020: £5,420 (lockdown)
26 August £7,285

2021
23 January 2021 £6,140
27 May £6,565
28 Aug £7,855
30 Sep £6,720
27 Nov £7,730

2022
4 March £7,260
22 Aug £6,000
2 Sept £6,370
Now £6,640

[Pommy]

Earthdweller said:

911hope said:

Earthdweller said:

Absolutely, virtually every currency has been falling against the USD for a year

GBP is now £1.10 and still rising which is only 2c less than before kamikwazi’s budget announcement

The long term run of money to the USD is far more than a U.K. budget the same falls have been seen in the Euro and others .. a euro is still worth less than a dollar today, less than it was worth last week before Kwazi’s budget

How do you explain that ?

Perhaps you wake up

Perhaps you are not aware that $1.10 to the pound is very very bad, and that interest rates quadrupling within weeks is very very bad.

It’s not a new thing nor just the GBP .. four major currencies same time frame, same pattern. I could add more but you get the picture

GBP :




Euro :



Yen:




Yuan :

...Checks % drop and timescale...

"Yep, totally the same for each".

[otolith]

WBAC offers over the last 8 weeks to today have been

£4000
£3890
£3600
£3715
£4160
£4205
£4140
£3255

[Tomanybikes]

The price of secondhand cars will be the least of a lot peoples worries going forward. Imo.

[carparkno1]

We'd been running two cars for a few years but with wfh and no commute we've decided to go to one. Chucking in both cars at motorpoint next week for a sportage. 2020 car with 9k miles and 4yrs warranty left. Choice of about 60 of them. 8k cash plus our two cars. We've played it safe for the last couple of years, driving two cars that didn't cost much to start with, and I was very keen on a used cupra leon, but the prices of those are still ridiculous so we've decided to just condense down to one newish car under warranty. What was interesting is they've opened two new branches and said they can't sell quickly enough. Did I pay a grand or so more than I could have done? Maybe, but it's not a massive hit and we'll recoup on less maintenence tax and tyres etc. Will leave the cupra thoughts alone until at least spring. I've been hoping for a used car price crash but just don't see it happening. Even with the current UK turbulece the price of new cars and shortage of stock isn't changing anytime soon. Even if cars are built, we're into the realms of £40k plus for a quick golf, and even more for a reasonably specced 3 series, and that's going to have people looking at used cars.

[911hope]

Macron said:

Global? How many other nations have, in the last week, had a stupid budget, have announced stupid tax cuts for the rich, have planned to continue spending against non-existent tax income, have had to bail out their pension funds, have been told “you’re fking stupid” by the IMF, and have their central bank governor now briefing against their actions?

Not even Venezuela are fking things up this badly. Wake up.

The key thing that has spooked the markets is the fact that the idiot government has not released any modelling on how their plan plays out. They promise it on Nov 23. This means they don't have a forecast. They are simply guessing and everyone with a brain knows this.

They have no idea what they are doing, so no wonder credibility is out of the window.

[911hope]

Earthdweller said:

Absolutely, virtually every currency has been falling against the USD for a year

GBP is now £1.10 and still rising which is only 2c less than before kamikwazi’s budget announcement

The long term run of money to the USD is far more than a U.K. budget the same falls have been seen in the Euro and others .. a euro is still worth less than a dollar today, less than it was worth last week before Kwazi’s budget

How do you explain that ?

Perhaps you wake up

Interest rates? Do they matter?
I say they do.
That is a government own goal.

[otolith]

Tomanybikes said:

The price of secondhand cars will be the least of a lot peoples worries going forward. Imo.

Rather depends on what their changing circumstances are forcing them to do.

[Pommy]

Using WBAC pricing as a guide going forward will be interesting as ultimately their financing costs as a corporation will spike and force them to reduce buy values to increase/maintain profit margins.

At the large bank I worked for every 10bps funding movement was a $100m difference.

[time waster]

911hope said:

Macron said:

Global? How many other nations have, in the last week, had a stupid budget, have announced stupid tax cuts for the rich, have planned to continue spending against non-existent tax income, have had to bail out their pension funds, have been told “you’re fking stupid” by the IMF, and have their central bank governor now briefing against their actions?

Not even Venezuela are fking things up this badly. Wake up.

The key thing that has spooked the markets is the fact that the idiot government has not released any modelling on how their plan plays out. They promise it on Nov 23. This means they don't have a forecast. They are simply guessing and everyone with a brain knows this.

They have no idea what they are doing, so no wonder credibility is out of the window.

+1

[time waster]

time waster said:

911hope said:

Macron said:

Global? How many other nations have, in the last week, had a stupid budget, have announced stupid tax cuts for the rich, have planned to continue spending against non-existent tax income, have had to bail out their pension funds, have been told “you’re fking stupid” by the IMF, and have their central bank governor now briefing against their actions?

Not even Venezuela are fking things up this badly. Wake up.

The key thing that has spooked the markets is the fact that the idiot government has not released any modelling on how their plan plays out. They promise it on Nov 23. This means they don't have a forecast. They are simply guessing and everyone with a brain knows this.

They have no idea what they are doing, so no wonder credibility is out of the window.

+1

Or the tax cuts will be funded by going back to austerity