Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

ghost83

3,755 posts

143 months

Saturday 21st March
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Tbh after this coronavirus I think there will be a fairly big recession if it goes on too long and values may well drop massively!

If this pandemic gets sorted quickly then I don’t think they will drop a lot! September onwards would be the time to buy if anything

SVJBalboni

133 posts

7 months

Sunday 22nd March
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YT'bers keep buying supercars like no big deal so I think everything will be ok biggrin

av185

10,978 posts

80 months

Sunday 22nd March
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Lowlands said:
How do I go about finding a decent car for sale at a depressed price? I’m following a couple of Facebook groups but should I be calling lots of dealers or are auctions my best bet?
British Car Auctions are closing their physical auction buying from centres as from this Thursday for the forseeable future due to health restrictions due to CV and sales will be online but only for trade account customers.

MingtheMerciless

324 posts

162 months

Sunday 22nd March
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Read this: https://www.dailymail.co.uk/news/article-8138581/C...

And then see if you are worried about Supercar values.

NSC79

13 posts

30 months

Sunday 22nd March
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We're fairly sure our family has had it in the last 21 days. Not because of a cough, but because we all lost our sense of smell and taste without having a blocked nose (worth looking up that symptom). Granted, with temp and some aching, but no particular cough (at least initially). I could be of the view that this really isn't much worse than a cold, but I'm 40 and my wife is 36 (kids 6 months and 4), but the difficulty is that immune systems in anyone over 65 can behave in a very different manner, particularly with comorbidity issues. Seeing how packed the tube was 10 days ago makes me think this is a calm before it gets very messy indeed.

I find it hard to believe this won't affect the value of anything other than resilient things like food and gold, at least in the short-term. The FTSE can't take the kicking it's had recently without taking a toll on the high end anything.

All best

PrancingHorses

2,585 posts

160 months

Sunday 22nd March
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Stock Market Crash, Banking Disasters, BREXIT now Covid-19.

If you can afford it now buy it, enjoy it, summer is coming.

There will always be something affecting prices. This mess will take a long time to be sorted. I'd rather have a nice car and enjoy it smile Each to their own.

The economy will never recover if no one spends money anyway, I'm doing my bit by picking up my new car next week smile

ghost83

3,755 posts

143 months

Sunday 22nd March
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PrancingHorses said:
Stock Market Crash, Banking Disasters, BREXIT now Covid-19.

If you can afford it now buy it, enjoy it, summer is coming.

There will always be something affecting prices. This mess will take a long time to be sorted. I'd rather have a nice car and enjoy it smile Each to their own.

The economy will never recover if no one spends money anyway, I'm doing my bit by picking up my new car next week smile
I think though ppl don’t like paying more than they have to, and A lot can’t afford it rly in the first place they buy and then the value tanks and it leaves them in a hole they can’t get out of (negative equity)

Will we see Ferrari 355 back at low to mid 30s and 360s at 40s and f430s similar I’m not so sure best to wait and see come autumn, if we live that long

ghuk

38 posts

101 months

Sunday 22nd March
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MingtheMerciless said:
Read this: https://www.dailymail.co.uk/news/article-8138581/C...

And then see if you are worried about Supercar values.
So true, it puts everything into perspective right now. Absolutely heartbreaking..........

AstonExige

465 posts

60 months

Monday 23rd March
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Will production lines stopping so there are no new cars coming on to the market, the dealers not having any new stock and possibly being forced to shut down, people not being able to buy new? Could that soften the blow to the supercar market? Either now or when we first come out the other side of this? When there is a shortage of new cars, some people will be wanting to buy again and they can't buy new so look to the used market?

Or am I wishful thinking?

Cheib

18,503 posts

128 months

Monday 23rd March
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AstonExige said:
Will production lines stopping so there are no new cars coming on to the market, the dealers not having any new stock and possibly being forced to shut down, people not being able to buy new? Could that soften the blow to the supercar market? Either now or when we first come out the other side of this? When there is a shortage of new cars, some people will be wanting to buy again and they can't buy new so look to the used market?

Or am I wishful thinking?
It’s a fair point but that the big question is will people still want to buy cars like this.....feel financially able to. I saw a forecast last night of US GDP collapsing by 30% in Q2. You could also argue that there will be a massive “YOLO” element to people’s thinking so they’ll spend on things like this.

Who knows but I think at least initially there will be distressed sellers wanting out at any price. Any I suspect the manufacturers and dealer will be desperate for volume at the expense of price.

WCZ

7,638 posts

147 months

Monday 23rd March
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PrancingHorses said:
Stock Market Crash, Banking Disasters, BREXIT now Covid-19.

If you can afford it now buy it, enjoy it, summer is coming.
if you can afford to lose a ton of money on it then sure and also with the lockdown coming you won't be able to drive it for awhile either!

MingtheMerciless

324 posts

162 months

Monday 23rd March
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I think also things might get so grim that it might not be all that popular to be out and about in a candy coloured supercar.

https://www.dailymail.co.uk/news/article-8142013/H...

SSO

790 posts

144 months

Monday 23rd March
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ghost83 said:
PrancingHorses said:
Stock Market Crash, Banking Disasters, BREXIT now Covid-19.

If you can afford it now buy it, enjoy it, summer is coming.

There will always be something affecting prices. This mess will take a long time to be sorted. I'd rather have a nice car and enjoy it smile Each to their own.

The economy will never recover if no one spends money anyway, I'm doing my bit by picking up my new car next week smile
I think though ppl don’t like paying more than they have to, and A lot can’t afford it rly in the first place they buy and then the value tanks and it leaves them in a hole they can’t get out of (negative equity)

Will we see Ferrari 355 back at low to mid 30s and 360s at 40s and f430s similar I’m not so sure best to wait and see come autumn, if we live that long
Im of a similar mindset, i would wait until autumn to buy.

PrancingHorses

2,585 posts

160 months

Monday 23rd March
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According to this article there seems to be no end date for this Covid-19 so how long does one wait?

https://www.bbc.co.uk/news/health-51963486

AstonExige

465 posts

60 months

Monday 23rd March
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PrancingHorses said:
According to this article there seems to be no end date for this Covid-19 so how long does one wait?

https://www.bbc.co.uk/news/health-51963486
Isn't the above based on us not finding a cure? Which we will. So surely once a vaccination is produced and everyone (in particular the vulnerable) are inoculated it will be little different to Flu and alike and things will quickly get back to normal?

BobM

734 posts

208 months

Monday 23rd March
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AstonExige said:
Isn't the above based on us not finding a cure? Which we will.
What, like we have for flu and the common cold? rolleyes

PrancingHorses

2,585 posts

160 months

Monday 23rd March
quotequote all
AstonExige said:
Isn't the above based on us not finding a cure? Which we will. So surely once a vaccination is produced and everyone (in particular the vulnerable) are inoculated it will be little different to Flu and alike and things will quickly get back to normal?
I work in medicine and there is no cure in sight for at least 18 months.

Ferruccio

1,133 posts

72 months

Monday 23rd March
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PrancingHorses said:
AstonExige said:
Isn't the above based on us not finding a cure? Which we will. So surely once a vaccination is produced and everyone (in particular the vulnerable) are inoculated it will be little different to Flu and alike and things will quickly get back to normal?
I work in medicine and there is no cure in sight for at least 18 months.
For flu it’s obviously a vaccine rather than a “cure”

Where the real pain will be is people not being able to keep up with their finance payments?
90% of the new market was financed.
Lots of people asking for the 3 month mortgage holiday already.

br d

7,545 posts

179 months

Monday 23rd March
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Ferruccio said:
90% of the new market was financed.
Good grief is it that high?

I often joke on here about my McLarens being worth buttons but I only spend what I can afford to lose, I've always thought life's too short to buy something that I'll just worry about.
Obviously no-one likes to take a hit though.

I wouldn't want to be sitting on something I owe a fortune on with the situation we are facing now.

Hope everyone comes through this without too much stress.

andrew

8,993 posts

145 months

Monday 23rd March
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br d said:
Ferruccio said:
90% of the new market was financed.
Good grief is it that high?

I often joke on here about my McLarens being worth buttons but I only spend what I can afford to lose, I've always thought life's too short to buy something that I'll just worry about.
Obviously no-one likes to take a hit though.

I wouldn't want to be sitting on something I owe a fortune on with the situation we are facing now.

Hope everyone comes through this without too much stress.
the fla alone know about 91.7% !

https://www.fla.org.uk/research/motor-finance/