Corona Virus Car Buying Dividend?

[Cogcog]

Not wishing to take advantage too much, but at what point might it be good to hit the dealers for a nearly new purchase?

[treeroy]

Cogcog said:

Not wishing to take advantage too much, but at what point might it be good to hit the dealers for a nearly new purchase?

This situation is likely to reach its "peak" in June, so I would imagine that May/June would be the lowest point of prices. As soon as things start recovering, prices will go up again.

Too early at the moment to tell how it will go but for as long as news events seem to get worse and worse, used car sales should decrease and decrease.

Also, you're not "taking advantage" just being sensible with your money. Something that's of fair importance currently.

[jonwm]

Guy i work with just told me his son who works at a car financing company has been told he is likely to be laid off Friday, he said they have gone from the phone ringing off the hook constantly 7 days a week to it dropping off a cliff the last week, apparently they deal with used car dealers in the main.

Yesterday he said they had a 97% drop in calls v last week.and even last week was quieter than normal.

[Cogcog]

jonwm said:

Guy i work with just told me his son who works at a car financing company has been told he is likely to be laid off Friday, he said they have gone from the phone ringing off the hook constantly 7 days a week to it dropping off a cliff the last week, apparently they deal with used car dealers in the main.

Yesterday he said they had a 97% drop in calls v last week.and even last week was quieter than normal.

Woth biding time then. Fine line between waiting until they need a sale and them closing down!

[ChocolateFrog]

It's going to be a buyer's market for the foreseeable that's for sure.

No harm in putting a few insultingly low bids in, you might get a few dial tones but you also might start a few conversations.

[Cogcog]

Had a few emals fom dealers I had visited (Inc. Carshop) saying they were stil open. I know they finance much oif their stock so this period of no footfall will hurt.