Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

Regy53

154 posts

95 months

Sunday 31st January
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See I really dont see this, I have been following the circa 150k budget cars for a few months and there's nothing new coming on the market really and cars are selling.

marky7seven

138 posts

12 months

Sunday 31st January
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TP321 said:
sardis said:
I agree, but it is a truism that any object is only worth what someone is actually prepared to pay for it. There are many threads and replies on here saying ‘I’ve been tracking Ferrari/Lambo/McLaren models for months’ the prices have remained the same and yet nothing is selling. That’s because the seller has unrealistic expectations of what the car is worth, probably because they’ve been listening to their mates/people in the trade etc.
I normally try and get a WBAC valuation on any car I am after, so that I know my true exposure at point of purchase, if it all goes Pete Tong the very next day and I need to sell fast, unlikely though that might be, I know what I have let myself in for. Try it on any of the comparable rivals such as F430, Lambo G etc and you will see it is £25-35k.
No doubt others will chime in with alternative views and that is fine, I just use it as a reality check on my man maths if it really does go to rats.
Finally if you are looking to trade in against something retail then that is a totally different conversation. Good luck with whatever you are trying to achieve.

driving
I do the same - WBAC will give you the cold hard truth about what the car is worth should you need to get out of it quickly
I'm looking to buy a FF or Lusso, and have noticed the prices of the Lusso coming down slowly, there was one at Joe Macri that sold for £149995 (that was the window sticker price), the FF are the same price as 12 months ago. So based on your logic, I put in the details of a car I like in WBAC and it comes out at £111930, the dealer has the car up for sale for £159950. I'm terrible at haggling but can you honestly see a dealer moving more than £10k off there sticker price?

TP321

1,316 posts

162 months

Sunday 31st January
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marky7seven said:
I'm looking to buy a FF or Lusso, and have noticed the prices of the Lusso coming down slowly, there was one at Joe Macri that sold for £149995 (that was the window sticker price), the FF are the same price as 12 months ago. So based on your logic, I put in the details of a car I like in WBAC and it comes out at £111930, the dealer has the car up for sale for £159950. I'm terrible at haggling but can you honestly see a dealer moving more than £10k off there sticker price?
You have to bear in mind that dealers have at least £20k margin in any car of this sort at this price level. But if you bought it and then suddenly you had to liquidate, then the £112k is what you would get. Some cars are very illiquid hence the low bids. The FF and Lusso most definitely are so I would be very price sensitive if I was buying one

BlackR8

360 posts

41 months

Sunday 31st January
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Regy53 said:
See I really dont see this, I have been following the circa 150k budget cars for a few months and there's nothing new coming on the market really and cars are selling.
I agree, this is also what I am seeing.

ghost83

4,476 posts

154 months

Sunday 31st January
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The FF on auction sites and market have been selling at 65k ish even though dealers have them up at 90k plus

marky7seven

138 posts

12 months

Sunday 31st January
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ghost83 said:
The FF on auction sites and market have been selling at 65k ish even though dealers have them up at 90k plus
Wasn't that this one, but it didn't hit it's reserver? https://www.autotrader.co.uk/car-details/202005089...

650spider

1,474 posts

135 months

Sunday 31st January
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Regy53 said:
See I really dont see this, I have been following the circa 150k budget cars for a few months and there's nothing new coming on the market really and cars are selling.
If you were trying to sell a £150k car just now and WBAC or a dealer are offering you £120k would you give it to them or just hold on to it?

I replied with regards to the McLaren post as I am going to have another spider, and 600LT and 720 spiders are not moving at current prices.

Advertised prices should be completely dismissed.


marky7seven

138 posts

12 months

Sunday 31st January
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650spider said:
Regy53 said:
See I really dont see this, I have been following the circa 150k budget cars for a few months and there's nothing new coming on the market really and cars are selling.
If you were trying to sell a £150k car just now and WBAC or a dealer are offering you £120k would you give it to them or just hold on to it?

I replied with regards to the McLaren post as I am going to have another spider, and 600LT and 720 spiders are not moving at current prices.

Advertised prices should be completely dismissed.
Any tips on negotiating the price down? I've only managed to get a big discount once, and that was by accident.

davek_964

7,405 posts

139 months

Sunday 31st January
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Three lockdowns has kept mileage down - I reckon prices should have gone up!

650spider

1,474 posts

135 months

Sunday 31st January
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marky7seven said:
Any tips on negotiating the price down? I've only managed to get a big discount once, and that was by accident.
No real secrets to it...just be patient and chip away; there is always another car that shall come along.

A sales guy has to sell cars; if its SOR then they have no exposure and then they put the pressure on the actual owner.

Every 10-12 years an event happens that puts the car market on its ass.

Last time in 2008 I had a Ferrari F355 Spider thats value dropped down to mid to late £20's even if I could sell it.

We are there again and unfortunately there are 2 greater factors than previous times; saturation of the market of 'supercars', and the financial situation is far worse than seen before.

For the posters saying that the market is strong looking at the £150k market, call the dealer that has the car that they have that you like, and ask them if they were interested in your similar spec car as a part exchange for another car they have or what they would offer to buy outright for; thats how you shall gauge what the car you want to buy is worth as soon as you have bought it for £150k.

Ensure you are sitting in a seat and have a wee dram to hand.

marky7seven

138 posts

12 months

Sunday 31st January
quotequote all
650spider said:
marky7seven said:
Any tips on negotiating the price down? I've only managed to get a big discount once, and that was by accident.
No real secrets to it...just be patient and chip away; there is always another car that shall come along.

A sales guy has to sell cars; if its SOR then they have no exposure and then they put the pressure on the actual owner.

Every 10-12 years an event happens that puts the car market on its ass.

Last time in 2008 I had a Ferrari F355 Spider thats value dropped down to mid to late £20's even if I could sell it.

We are there again and unfortunately there are 2 greater factors than previous times; saturation of the market of 'supercars', and the financial situation is far worse than seen before.

For the posters saying that the market is strong looking at the £150k market, call the dealer that has the car that they have that you like, and ask them if they were interested in your similar spec car as a part exchange for another car they have or what they would offer to buy outright for; thats how you shall gauge what the car you want to buy is worth as soon as you have bought it for £150k.

Ensure you are sitting in a seat and have a wee dram to hand.
No car to PX as I'm keeping my R8+, if I'm getting a FF sub £95k no finance, if its a Lusso will have to finance the remainder (Sorry PH, I mentioned finance). I'm in no rush, just would like it for a European trip to Croatia in the summer if we are allowed too.

SagMan

540 posts

184 months

Sunday 31st January
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I've been tracking 20 -25 cars on Autotrader for past 2 months.
18 cars remain unsold and price dormant. 1 car is unsold and increased by 5%!
6 cars sold, of which 3 were price dropped around 5% and then sold within 2-3 days.
Interesting, to me, is that I have put bids and two cars (around 5% less than asking), both rejected. Then within a week both these cars were dropped less than my offer price and I wasn't contacted! Very strange salesman enquiry logging techniques!
Im still waiting to find right car, right spec and fair price.

R8Reece

1,106 posts

53 months

Sunday 31st January
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BlackR8 said:
Regy53 said:
See I really dont see this, I have been following the circa 150k budget cars for a few months and there's nothing new coming on the market really and cars are selling.
I agree, this is also what I am seeing.
Surely the private selling market will have dried up since lockdown? Who will buy privately when you have to take a risk/break the law for a test drive?

davek_964

7,405 posts

139 months

Sunday 31st January
quotequote all
R8Reece said:
Surely the private selling market will have dried up since lockdown? Who will buy privately when you have to take a risk/break the law for a test drive?
You don't have to 'break the law', since the legislation is very different from the guidelines - the govt has convinced most of the population that the guidelines are the law.

If I was shopping for a car - which is entirely reasonable in lockdown, if only for work and food shopping - then I would certainly consider private sales.

650spider

1,474 posts

135 months

Sunday 31st January
quotequote all
marky7seven said:
650spider said:
marky7seven said:
Any tips on negotiating the price down? I've only managed to get a big discount once, and that was by accident.
No real secrets to it...just be patient and chip away; there is always another car that shall come along.

A sales guy has to sell cars; if its SOR then they have no exposure and then they put the pressure on the actual owner.

Every 10-12 years an event happens that puts the car market on its ass.

Last time in 2008 I had a Ferrari F355 Spider thats value dropped down to mid to late £20's even if I could sell it.

We are there again and unfortunately there are 2 greater factors than previous times; saturation of the market of 'supercars', and the financial situation is far worse than seen before.

For the posters saying that the market is strong looking at the £150k market, call the dealer that has the car that they have that you like, and ask them if they were interested in your similar spec car as a part exchange for another car they have or what they would offer to buy outright for; thats how you shall gauge what the car you want to buy is worth as soon as you have bought it for £150k.

Ensure you are sitting in a seat and have a wee dram to hand.
No car to PX as I'm keeping my R8+, if I'm getting a FF sub £95k no finance, if its a Lusso will have to finance the remainder (Sorry PH, I mentioned finance). I'm in no rush, just would like it for a European trip to Croatia in the summer if we are allowed too.
It the 'imaginary' px.

This lets you see what the dealer would offer you if you were trading in or asking them to buy the car that you are looking at.

This shall clearly show the difference between what you are paying for the car in the showroom as apposed to what they would value it at if you offered it to them.

With regards to the dealers increasing prices, this is to catch out punters whom think prices are recovering so best to buy now.

Prices are not recovering; and won't.

R8Reece

1,106 posts

53 months

Sunday 31st January
quotequote all
davek_964 said:
You don't have to 'break the law', since the legislation is very different from the guidelines - the govt has convinced most of the population that the guidelines are the law.

If I was shopping for a car - which is entirely reasonable in lockdown, if only for work and food shopping - then I would certainly consider private sales.
Well the thread is about supercars so was referring to that but I guess it’s down to your attitude to risk. I wouldn’t personally buy a car without a test drive and I personally wouldn’t risk getting in a car with a complete stranger, even with a mask.

Others may disagree but it must be having an impact on prices/sales.

davek_964

7,405 posts

139 months

Sunday 31st January
quotequote all
R8Reece said:
Well the thread is about supercars so was referring to that
I use my car for shopping and work - so technically, so was I.

Of course, whether it's a supercar is a different question wink

R8Reece

1,106 posts

53 months

Sunday 31st January
quotequote all
davek_964 said:
R8Reece said:
Well the thread is about supercars so was referring to that
I use my car for shopping and work - so technically, so was I.

Of course, whether it's a supercar is a different question wink
Of course it is smile I was talking about buying a car, not shopping in your car.

Cheib

20,191 posts

139 months

Sunday 31st January
quotequote all
marky7seven said:
Any tips on negotiating the price down? I've only managed to get a big discount once, and that was by accident.
Negotiate in person if you can (obviously not now so phone better than e-mail), make sure they know that the car they have is the one you want to buy and tell them if they agree the price you will do it there and then and there’s no second chances, Be prepared to walk away.

Timing is important too if you’re dealing with a franchised dealer....they will have monthly/quarterly budgets to hit.

akadk

875 posts

143 months

Sunday 31st January
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akadk said:
ghost83 said:
What would trade price be on a 15 plate 650s coupe? Just out of asking a couple of ppl then checking various sites,

There’s one at 92k

Friend in the trade reckons 60-65k
Another friend said 65k
Wbac 57k


So where are they at in reality
I agreed to buy the orange one for £92k from the previous owner last August for £80k, but pulled out...I imagine the trader paid less, maybe £75k
Re your PM

The car was great. I bought a Project 8 instead.