When will used car prices drop?

[EvoSid]

Prices still crazy at dealers as stock id flying out the door, Dealers paying way over and selling way over and people buying it
My local OPC in Aberdeen as 0 yes zero used 911 for sale today other than a couple of nice GT cars. Never seen that before .
So tis year is only getting weirder.
Jobs being lost at an alarming rate
We are in a recession like no other with a decline of over 20% in UK GDP
yet stock markets on fire
Used cars selling faster than toilet roll at the height of the covid pandemic
Cant wait to see how this turns out

Will all these cars bought this year end up at dealers next year or will this boom in car sales continue?

[Phooey]

At the moment the majority of job losses are at the lower ends of the pay spectrum, or to put it another way - not Porsche buyers. If we start to see lots of middle to higher income redundancies then yeah, it could slow or stall the premium car market. The test will be how many NEW car orders the dealerships are taking this time next year. People who want or need to change cars at this moment in time are simply hoovering up what they can drive away today. And of course, there's also a bit of panic or FOMO going on.

[jayxx83]

I think a lot of bosses have made a lot of cost savings so perhaps a lot of money to spend on toys. Couple of staff on 25-35 k = treat yourself to a toy time.

[m3jappa]

BertBert said:

This is very confusing, how has this degenerated into how much cash an ATM will give you?

This is PistonHeads, the only place where i can click on a thread titled something like 'new m3 promises more power' and i go to say page 5 and people are arguing on which is the best ale producer in the midlands between the years of 1983 and 1989.

Confuses me too

[RSVP911]

anonymous said:

[redacted]

I think this is definitely a driver as are bounce back loans, low finance deals - crazy time for luxury car sales to be booming - Instagram must also be playing its part - in the old days :

Decide you need a car - get a car magazine scour the ads or go to your local dealer - it was hard work and you had to be committed and be able to afford it,

Then - The Internet - When I need a car I can go online & see everything that’s for sale all over the place - amazing - so much easier. Especially as I don’t even have to really buy it - all I do now is pay the interest and depreciation and borrow it for a bit - I can now afford a car that I actually can’t afford, I can configure my dream car on fancy configurations until the cows come home - exciting times !

Now - I don’t want or need a car but social media tell me I’m wrong; forums , Instagram, FB is telling me I have to have one as every other person in the world is buying them, not just once but all the time; I’m bombarded with Just arrived, Just sold media - you can’t escape it easily - “well if that’s what everyone is doing, I may as well join in ......”

Technology must be playing a massive part in this. (Appreciate this was around pre Covid)

All just IMHO

Edited by RSVP911 on Wednesday 19th August 21:29

[Kettmark]

charliedb2 said:

Love the starting gambit of the ad; “ What’s rarer than a limited production, special edition 911? One that’s been driven.”

Crazy considering these were circa £140k new. Are they really 10 times better than a c2s? No.
I've made my own sport classic recreation which stands me at substantially less than £200k and most likely drives much better. Better still i can use it.

[julian987R]

Cheib said:

It might have 35k miles but this is the first time I’ve seen a Sport Classic under £200k in years !

https://www.dukeoflondon.co.uk/product-page/2010-p...

look how scratched the key bezel is!
https://static.wixstatic.com/media/393310_e5390e48...

[Cheib]

EvoSid said:

Prices still crazy at dealers as stock id flying out the door, Dealers paying way over and selling way over and people buying it
My local OPC in Aberdeen as 0 yes zero used 911 for sale today other than a couple of nice GT cars. Never seen that before .
So tis year is only getting weirder.
Jobs being lost at an alarming rate
We are in a recession like no other with a decline of over 20% in UK GDP
yet stock markets on fire
Used cars selling faster than toilet roll at the height of the covid pandemic
Cant wait to see how this turns out

Will all these cars bought this year end up at dealers next year or will this boom in car sales continue?

I witnessed similar at my OPC a few weeks ago...the used car lot was virtually empty of sports cars.

What is slightly odd is that the limited edition GT cars are the one’s that are for sale and judging by the price reductions they’re having trouble shifting them. GT3 RS’S, Speedtser’s, GT4’s etc there are a lot of cars for sale.

[supersport]

Funny, my mates 987.2 3.4S Boxster has just gone up for sale at RPM Knaresborough.

They also have a rather stunning Red Caymen R.

Be interesting to see how long they take to sell.

[Andyoz]

anonymous said:

[redacted]

There has also been lots of easy stock market gains if you played it right. It's easy to justify converting those gains into something concrete like a nice car and Porsche is the first port of call for many people on that score.

[IMI A]

Cheib said:

It might have 35k miles but this is the first time I’ve seen a Sport Classic under £200k in years !

https://www.dukeoflondon.co.uk/product-page/2010-p...

That’s a really good example of silly numbers game. My fave 911 in many ways but I thought they were expensive at list £140k. Just a GTS with a bubble roof. Cool though. Very cool.

At £75k it would be a super buy. Still over 50% of MRSP.

[worldwidewebs]

Cheib said:

What is slightly odd is that the limited edition GT cars are the one’s that are for sale and judging by the price reductions they’re having trouble shifting them. GT3 RS’S, Speedtser’s, GT4’s etc there are a lot of cars for sale.

Possibly because many people bought the GT cars to try and make a profit on (which isn't happening now), whereas people bought the rest of the range to actually drive

[Cheib]

worldwidewebs said:

Cheib said:

What is slightly odd is that the limited edition GT cars are the one’s that are for sale and judging by the price reductions they’re having trouble shifting them. GT3 RS’S, Speedtser’s, GT4’s etc there are a lot of cars for sale.

Possibly because many people bought the GT cars to try and make a profit on (which isn't happening now), whereas people bought the rest of the range to actually drive

That may well be the answer...people are buying cars to enjoy them and if you bought a Speedster to flip it’s not that enjoyable watching prices come off £30 to £50k.

[v8ksn]

I think in 6 months time, the market is going to look very different indeed.

[Kettmark]

v8ksn said:

I think in 6 months time, the market is going to look very different indeed.

+1

[Grantstown]

I just don’t see anything classic about that tarted up 997 (shoot me now!).

For that sort of money you’d surely be looking at a proper classic (1960s S in 1st class order for example).

[EvoSid]

m3jappa said:

This is PistonHeads, the only place where i can click on a thread titled something like 'new m3 promises more power' and i go to say page 5 and people are arguing on which is the best ale producer in the midlands between the years of 1983 and 1989.

Can you send me a link as I missed that one and it seems a good debate lol
You do get some weird and wonderful comments on here .
Pistonheads should open a real pub lol

Edited by EvoSid on Thursday 20th August 23:22

[laingy]

Cheib said:

EvoSid said:

Prices still crazy at dealers as stock id flying out the door, Dealers paying way over and selling way over and people buying it
My local OPC in Aberdeen as 0 yes zero used 911 for sale today other than a couple of nice GT cars. Never seen that before .
So tis year is only getting weirder.
Jobs being lost at an alarming rate
We are in a recession like no other with a decline of over 20% in UK GDP
yet stock markets on fire
Used cars selling faster than toilet roll at the height of the covid pandemic
Cant wait to see how this turns out

Will all these cars bought this year end up at dealers next year or will this boom in car sales continue?

I witnessed similar at my OPC a few weeks ago...the used car lot was virtually empty of sports cars.

What is slightly odd is that the limited edition GT cars are the one’s that are for sale and judging by the price reductions they’re having trouble shifting them. GT3 RS’S, Speedtser’s, GT4’s etc there are a lot of cars for sale.

Isn’t the reason the lots are empty is they are running down stock waiting for a huge fall . They can fill them as they are offering way unders to replace stock but no one is willing to sell at . Think the OPC know where the market is going

[EvoSid]

laingy said:

Isn’t the reason the lots are empty is they are running down stock waiting for a huge fall . They can fill them as they are offering way unders to replace stock but no one is willing to sell at . Think the OPC know where the market is going

interesting viewpoint and one I had nt considered .
Maybe that is the case but surely you want to make money now as OPC not cheap to run. Never seen a place with more staff than stock in my life !

[Robbo66]

laingy said:

Isn’t the reason the lots are empty is they are running down stock waiting for a huge fall . They can fill them as they are offering way unders to replace stock but no one is willing to sell at . Think the OPC know where the market is going

Yes. Exactly.