When will used car prices drop?
Discussion
It is a third of a year since lockdown.
A significant percentage of the `UK's industry is bleeding to death ... with Furlough.
Furlough ends in three months and is now tapering at around 10% of the Furlough value per month.
People in general appear to be afraid to live.
If comparative normality cannot resume before Christmas, for many there will be virtually no support and they will be spending their redundancy applying for jobs in such volume that the applications may be suffocating.
How can workers return to work when many teachers say they will not teach their children ?
We must all start living again ... minimise viral loads ... protect the NHS as we can, and live with the virus.
If we all wait for a vaccine and pretend that we must do nothing in order to protect ourselves, in how long may there may be nothing left to protect ?
So let's talk up the economy and go for it. The alternative strategy could be average incomes in real terms falling by 30% and highly geared individuals going bust with massive destruction of asset values across all asset classes.
And then there is Brexit ...
A significant percentage of the `UK's industry is bleeding to death ... with Furlough.
Furlough ends in three months and is now tapering at around 10% of the Furlough value per month.
People in general appear to be afraid to live.
If comparative normality cannot resume before Christmas, for many there will be virtually no support and they will be spending their redundancy applying for jobs in such volume that the applications may be suffocating.
How can workers return to work when many teachers say they will not teach their children ?
We must all start living again ... minimise viral loads ... protect the NHS as we can, and live with the virus.
If we all wait for a vaccine and pretend that we must do nothing in order to protect ourselves, in how long may there may be nothing left to protect ?
So let's talk up the economy and go for it. The alternative strategy could be average incomes in real terms falling by 30% and highly geared individuals going bust with massive destruction of asset values across all asset classes.
And then there is Brexit ...
MannyLon said:
VonSenger said:
No they dont. Most make their cash work and borrow at historically low rates. High end stuff is slowing (In My Experience), unless you're 911R aka Dave the Rave, then its all rosy.
Please show me the low rates.I wouldn't be surprised if the sort of person who could drop £150k on a toy had a credit limit of £50-£100k on any particular credit card.
ChrisW. said:
It is a third of a year since lockdown.
A significant percentage of the `UK's industry is bleeding to death ... with Furlough.
Furlough ends in three months and is now tapering at around 10% of the Furlough value per month.
People in general appear to be afraid to live.
If comparative normality cannot resume before Christmas, for many there will be virtually no support and they will be spending their redundancy applying for jobs in such volume that the applications may be suffocating.
How can workers return to work when many teachers say they will not teach their children ?
We must all start living again ... minimise viral loads ... protect the NHS as we can, and live with the virus.
If we all wait for a vaccine and pretend that we must do nothing in order to protect ourselves, in how long may there may be nothing left to protect ?
So let's talk up the economy and go for it. The alternative strategy could be average incomes in real terms falling by 30% and highly geared individuals going bust with massive destruction of asset values across all asset classes.
And then there is Brexit ...
Talking up the economy on here won't make one iota of difference.A significant percentage of the `UK's industry is bleeding to death ... with Furlough.
Furlough ends in three months and is now tapering at around 10% of the Furlough value per month.
People in general appear to be afraid to live.
If comparative normality cannot resume before Christmas, for many there will be virtually no support and they will be spending their redundancy applying for jobs in such volume that the applications may be suffocating.
How can workers return to work when many teachers say they will not teach their children ?
We must all start living again ... minimise viral loads ... protect the NHS as we can, and live with the virus.
If we all wait for a vaccine and pretend that we must do nothing in order to protect ourselves, in how long may there may be nothing left to protect ?
So let's talk up the economy and go for it. The alternative strategy could be average incomes in real terms falling by 30% and highly geared individuals going bust with massive destruction of asset values across all asset classes.
And then there is Brexit ...
The reality is that the government has shown that they simply won't let the economy implode. God knows what they'll put out of their hat to make it happen, but it will be interesting to see.
We may even all be in the public sector building roads and houses next year!
youngsyr said:
I can borrow for a 1.9% up front fee on my credit card for 18 months.That's just around 1.2% p.a., incredibly low cost borrowing.
I wouldn't be surprised if the sort of person who could drop £150k on a toy had a credit limit of £50-£100k on any particular credit card.
Not sure you can buy a car on credit card.I wouldn't be surprised if the sort of person who could drop £150k on a toy had a credit limit of £50-£100k on any particular credit card.
MannyLon said:
youngsyr said:
I can borrow for a 1.9% up front fee on my credit card for 18 months.That's just around 1.2% p.a., incredibly low cost borrowing.
I wouldn't be surprised if the sort of person who could drop £150k on a toy had a credit limit of £50-£100k on any particular credit card.
Not sure you can buy a car on credit card.I wouldn't be surprised if the sort of person who could drop £150k on a toy had a credit limit of £50-£100k on any particular credit card.
And yes you can.
Porsche911R said:
none I know of the cost would be too high so they would never let you pay that way !!
I paid deposits on credit card (for my own safty) and the balance on debit card.
I have seen some where you could pay with credit card but the price will increase accordingly to cover the fees I paid deposits on credit card (for my own safty) and the balance on debit card.
Porsche911R said:
none I know of the cost would be too high so they would never let you pay that way !!
I paid deposits on credit card (for my own safty) and the balance on debit card.
Yes. So brings me back to the question of low borrowing rates. Some people have suggested that rates are low but the best I’ve seen is about 6% apr for the amounts we’re talking about.I paid deposits on credit card (for my own safty) and the balance on debit card.
MannyLon said:
youngsyr said:
Google is your friend.
And yes you can.
Really? Never heard of a dealer accepting more than 5k on the card. What official dealers allow larger payments on credit card?And yes you can.
Some might refuse or try to dissuade you from using a credit card because the dealer gets charged up to 3% of the transaction value as a processing fee and they don't want to swallow the cost.
Porsche911R said:
none I know of the cost would be too high so they would never let you pay that way !!
I paid deposits on credit card (for my own safty) and the balance on debit card.
So, your position is that because you don't know any dealers who would accept a large payment on a credit card, every single dealer in the country must the same?I paid deposits on credit card (for my own safty) and the balance on debit card.
MDL111 said:
Porsche911R said:
none I know of the cost would be too high so they would never let you pay that way !!
I paid deposits on credit card (for my own safty) and the balance on debit card.
I have seen some where you could pay with credit card but the price will increase accordingly to cover the fees I paid deposits on credit card (for my own safty) and the balance on debit card.
MannyLon said:
Porsche911R said:
none I know of the cost would be too high so they would never let you pay that way !!
I paid deposits on credit card (for my own safty) and the balance on debit card.
Yes. So brings me back to the question of low borrowing rates. Some people have suggested that rates are low but the best I’ve seen is about 6% apr for the amounts we’re talking about.I paid deposits on credit card (for my own safty) and the balance on debit card.
If you don't, you'll be offered the headline rate that the rest of us plebs are offered.
Very easy way to tell if you're a pleb or not - if you have the direct number of a dedicated relationship manager at your bank and you can call him 24/7 and he'll answer, you're not a pleb.
youngsyr said:
Any of them are allowed to accept cards up to the limit they agree with the card merchant, which is a lot more than £5k in pretty much every case, I would imagine.
Some might refuse or try to dissuade you from using a credit card because the dealer gets charged up to 3% of the transaction value as a processing fee and they don't want to swallow the cost.
Yes, so really we're saying they won't. Unless you know of some who will, then please let me know.Some might refuse or try to dissuade you from using a credit card because the dealer gets charged up to 3% of the transaction value as a processing fee and they don't want to swallow the cost.
Car dealers don't want to take credit card as it offers the buyer too much protection.
Card rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
Card rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
gizlaroc said:
Car dealers don't want to take credit card as it offers the buyer too much protection.
Card rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
Or stopping card fraud?Card rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
gizlaroc said:
Car dealers don't want to take credit card as it offers the buyer too much protection.
Card rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
IIRC maximum protection is £30K for credit cards and you only need to pay a small amount on your credit card to be protectected for the full £30KCard rates are low now, a car dealer would be able to get around 0.15% pretty easily, so it is not fees. So £90 on a £60,000 sale.
What they don't want is someone not happy, call their card company and get the payment reversed.
MannyLon said:
youngsyr said:
Any of them are allowed to accept cards up to the limit they agree with the card merchant, which is a lot more than £5k in pretty much every case, I would imagine.
Some might refuse or try to dissuade you from using a credit card because the dealer gets charged up to 3% of the transaction value as a processing fee and they don't want to swallow the cost.
Yes, so really we're saying they won't. Unless you know of some who will, then please let me know.Some might refuse or try to dissuade you from using a credit card because the dealer gets charged up to 3% of the transaction value as a processing fee and they don't want to swallow the cost.
Don't confuse your personal experience with everyone else's.
As above, there are different rules for people with a very high net worth.
Another good example is cash withdrawals at an ATM. The plebs are limited to £200 per day. If you're loaded, the limit is what you want it to be.
youngsyr said:
I've personally paid for two cars with credit cards, one a main dealer, another an independent.
Don't confuse your personal experience with everyone else's.
As above, there are different rules for people with a very high net worth.
Another good example is cash withdrawals at an ATM. The plebs are limited to £200 per day. If you're loaded, the limit is what you want it to be.
I'm not confusing anything. Simply asking for transparency in your arguments. Don't confuse your personal experience with everyone else's.
As above, there are different rules for people with a very high net worth.
Another good example is cash withdrawals at an ATM. The plebs are limited to £200 per day. If you're loaded, the limit is what you want it to be.
Who was the main dealer and how much did you pay please?
Nice if us petrol heads can help each other out.
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