Will Corona effect the Supercar Market

[Drl22]

johnnyreggae said:

Afters on a Urus seems like a fantasy going forward

Your loss on a cancelled order might depend on size of your deposit and what the dealer manages to get for the car

This is what I had summarised as well. It’s a £20k deposit so all in all I’m going to end up in roughy the same place. Just bad timing but hey ho, it’s going to be a keeper anyway.

[hornbaek]

If the car is not yet produced you are entitled to cancel the deposit.

[Ferruccio]

hornbaek said:

If the car is not yet produced you are entitled to cancel the deposit.

Surely that depends on the terms of the contract?

[PrancingHorses]

Usually one can't cancel a car after spec lock down...that's when the contract gets serious..

[EC2]

Most contracts for new car orders allow you to cancel if the car is not delivered within 60 days of the estimated delivery date. That’s why you need to get this on the order. Not sure if there maybe overriding force majeure conditions but worth a read.

[Van Dessel]

paul0843 said:

Van Dessel said:

That's quite poignant, several industries chipping in where they can how they can. It's very heartening. Yes they have logoed golf shirts on which is no accident but I think it's just pride at helping. Unlike Mike Ashley or that bizarre pub baron.

That country gets hammered and hammered again and again but their compassion is undefeatable.

It’s so easy to take a pop at mike Ashley and Tim Wetherspoon but just for a moment
think about the amount of vat,rates,Paye ,corporation tax etc they pay.
In my humble opinion unless your paying more,you don’t really have a right to moan unless out of jealousy .

Respectfully no, that is not correct. We don't live in the stoneage where he with the biggest club gets to voice any hair-brain opinion and NOT get challenged. I'm sorry no. Most large firms have catering budgets alone which are 10x larger than Whetherspoon's entire operation so why brag about who's is largest? Silly game. All that matters is both have wound their necks in. Man, there have been some serious PR blunders around this...

[Ferruccio]

Van Dessel said:

Most large firms have catering budgets alone which are 10x larger than Whetherspoon's entire operation so why brag about who's is largest? Silly game.

Wetherspoon’s t/o is nearly £2bn p.a. - which large firms have a catering budget >£20bn?

[LotusOmega375D]

McDonald’s?

[SSO]

Cheib said:

Blog post from Secret Supercar Owner formerly of EVO fame on the current market and outlook. Some will disagree but I think it’s really well written and makes some very valid points. As he has previously highlighted the key thing is the market was soft before we’d heard of Covid....and in times like this you would expect a grand to accelerate.

https://karenable.com/supercar-market-update-q1-20...

Thanks

[ghost83]

He’s not wrong,

And Chris Harris has also said whatever car is for sale knock a 3rd off the price are we rly going to see a gt3 or a 650s or a 570s having 30-35k knocked off it in the next 3-6 months and put them in the 60k bracket?

I don’t see special edition cars like pistas and LTs dropping but if I had a 720s which have already lost a fortune on finance I’d be rather worried at a potential 50k drop in value

[priley]

Surely a gradual erosion in car values is inevitable for a while? I can see prices of modern classics ending up perhaps half way between now and ten years ago.
There will be some winners and losers too; those forced to sell and those in a position to buy. One person's loss...
And probably less speculators thinking of cars as investments, especially new ones. So probably lower limited run numbers (as we just saw with McL).
Plus the car finance/PCP implications are quite serious.

Anyway, I just look forward to being able to drive my cars again. It's all I ever bought them for.

[markst]

ghost83 said:

He’s not wrong,

And Chris Harris has also said whatever car is for sale knock a 3rd off the price are we rly going to see a gt3 or a 650s or a 570s having 30-35k knocked off it in the next 3-6 months and put them in the 60k bracket?

I don’t see special edition cars like pistas and LTs dropping but if I had a 720s which have already lost a fortune on finance I’d be rather worried at a potential 50k drop in value

I'm quite looking forward to 458s at 70k...….430s at 56k.....and 360s......well I can remember where they were in 08.

gosh , brings it all back...I can remember walking away from a 430 at 55k...didn't like it......ended up buying a lovely red manual 430 for not a lot....one I wish I had kept.

[ghost83]

markst said:

I'm quite looking forward to 458s at 70k...….430s at 56k.....and 360s......well I can remember where they were in 08.

gosh , brings it all back...I can remember walking away from a 430 at 55k...didn't like it......ended up buying a lovely red manual 430 for not a lot....one I wish I had kept.

I nearly bought a Porsche 996 turbo at 20k 355s were at 30-35k and 430s at 55k but I put 45k into my house deposit instead as the missus was pregnant, so never got chance and then the cars just went up in value, I really hope they do drop across the board, missus wants a Range Rover and I want a mclaren ideally

[cgt2]

Manual 430 Spider on Auto Trader, priced for quick sale apparently. Let's see how quickly it moves, it's £30k more than I paid for my manual 430 Coupe in 2014.

[ghost83]

cgt2 said:

Manual 430 Spider on Auto Trader, priced for quick sale apparently. Let's see how quickly it moves, it's £30k more than I paid for my manual 430 Coupe in 2014.

Will be good to watch although I’d throw in a cheeky offer of 50k and see how desperate he is,

Chris Harris has just said on his Instagram stories when asked about buying a 360 manual he said don’t buy any car at the moment as the values are going to change massively!

[cgt2]

ghost83 said:

Will be good to watch although I’d throw in a cheeky offer of 50k and see how desperate he is,

Chris Harris has just said on his Instagram stories when asked about buying a 360 manual he said don’t buy any car at the moment as the values are going to change massively!

I wouldn't do anything at the moment either. I bought a car in 2009 that was £40k under what the dealer had it advertised for in 2008. After sitting on it for 9 months he wanted rid.

[ghost83]

cgt2 said:

I wouldn't do anything at the moment either. I bought a car in 2009 that was £40k under what the dealer had it advertised for in 2008. After sitting on it for 9 months he wanted rid.

Mind if I ask the advertised price and what car it was, I still say autumn will be the time to buy

[cgt2]

ghost83 said:

Mind if I ask the advertised price and what car it was, I still say autumn will be the time to buy

Ferrari, was up for £90k initially, was four years old at the time, I paid under £50k. As the subsequent owner is on here and I believe may still own it I won't mention the exact car in case it hurts his chance of selling.

[ghost83]

cgt2 said:

Ferrari, was up for £90k initially, was four years old at the time, I paid under £50k. As the subsequent owner is on here and I believe may still own it I won't mention the exact car in case it hurts his chance of selling.

Bloody hell thats a good price, I think this correction has been a long time coming hasn’t it, crazy how this pandemic is the thing to kick it all off

[cgt2]

ghost83 said:

Bloody hell thats a good price, I think this correction has been a long time coming hasn’t it, crazy how this pandemic is the thing to kick it all off

The key thing in that case though was that I found out the dealer had taken the car in px and therefore had his own money tied up in it and needed cashflow. Not sure how often that is the case these days as far more stock seems to be SOR.

Things go up and down, this will be the third or fourth such cycle I've seen over the years. An SLR was under £100k ten years ago!