Buying a car & Recession..!!!
Discussion
Hi all.
I’ve got my eye on a car, £80k, looking to buy it for cash.
Seeing as there is a possible deep recession on the horizon am I better of waiting.
What I’m saying is, will cars be cheaper in a recession or not.
Would the car I’m interested in buying be worth less than what I pay for it.
I know they go down anyway under normal circumstances, but would a recession make the price drop a lot more.
Thanks for any replies.
Dave.
I’ve got my eye on a car, £80k, looking to buy it for cash.
Seeing as there is a possible deep recession on the horizon am I better of waiting.
What I’m saying is, will cars be cheaper in a recession or not.
Would the car I’m interested in buying be worth less than what I pay for it.
I know they go down anyway under normal circumstances, but would a recession make the price drop a lot more.
Thanks for any replies.
Dave.
Do you want the car?
Can you afford it?
Will you need to sell it in a hurry?
If your answers are yes, yes, no, then stop worrying and just buy the thing you want.
I get the impression from many posts on here that car enthusiasts have been replaced by investors and that’s a sad state of affairs.
Can you afford it?
Will you need to sell it in a hurry?
If your answers are yes, yes, no, then stop worrying and just buy the thing you want.
I get the impression from many posts on here that car enthusiasts have been replaced by investors and that’s a sad state of affairs.
Yes values will come down if there's a "deep recession", and logically there is some reckoning to come down the line as consumers start to allocate funds between food, heating, holidays & cars (inc. fuel). In reality it has been too easy to fund, and therefore "own", a £50K+ car, for some time now. One of the all-time best ever sales promotions organised by car companies and their finance arms.
You are a cash buyer but this last point is still relevant - if fewer people choose to allocate £700 - £1,000 per month towards their car finance arrangement, there will be less demand and prices will soften.
Equally - it doesn't matter if prices are down if you're not selling (or not forced to sell).
You are a cash buyer but this last point is still relevant - if fewer people choose to allocate £700 - £1,000 per month towards their car finance arrangement, there will be less demand and prices will soften.
Equally - it doesn't matter if prices are down if you're not selling (or not forced to sell).
Chrishum said:
Do you want the car?
Can you afford it?
Will you need to sell it in a hurry?
If your answers are yes, yes, no, then stop worrying and just buy the thing you want.
I get the impression from many posts on here that car enthusiasts have been replaced by investors and that’s a sad state of affairs.
Like you say…….Yes, Yes, No.Can you afford it?
Will you need to sell it in a hurry?
If your answers are yes, yes, no, then stop worrying and just buy the thing you want.
I get the impression from many posts on here that car enthusiasts have been replaced by investors and that’s a sad state of affairs.
As others have rightly said it depends how long you were intending keeping the car.
In 2008 used values on higher end stuff in particular tanked many sold out but were subsequently caught out by buying back at a much higher figure as the speed of recovery was very rapid much like the equity markets.
Invariably retention of residual value will be very car and model dependent and whilst the GTR is a good package it would most likely be fairly susceptible to quite aggressive depreciation during economic downturn.
In 2008 used values on higher end stuff in particular tanked many sold out but were subsequently caught out by buying back at a much higher figure as the speed of recovery was very rapid much like the equity markets.
Invariably retention of residual value will be very car and model dependent and whilst the GTR is a good package it would most likely be fairly susceptible to quite aggressive depreciation during economic downturn.
Do it.
Keep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
Keep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
The problem with waiting is that like trying to call the top or bottom of any market, you can end up hanging around a long time. I still don't see a sudden crash in used values, more a gradual decline as new-car supply comes through. So yes it'll depreciate more in the next three years than the last three (which isn't saying much), but I don't see it as worth waiting.
Additionally, more focused cars like the GT-R tend to have better residuals anyway. And will there be a combustion-engined successor sold here? The phasing out of petrol engines will also tend to support R35 residuals I think.
IMO yes prices may go down, but may not go down sharply any time soon, and GT-R prices may go down less or may go up instead. Couple this with the fact you have the chance to buy and start enjoying the car now, and I'd say go for it.
samoht said:
The problem with waiting is that like trying to call the top or bottom of any market, you can end up hanging around a long time. I still don't see a sudden crash in used values, more a gradual decline as new-car supply comes through. So yes it'll depreciate more in the next three years than the last three (which isn't saying much), but I don't see it as worth waiting.
Additionally, more focused cars like the GT-R tend to have better residuals anyway. And will there be a combustion-engined successor sold here? The phasing out of petrol engines will also tend to support R35 residuals I think.
IMO yes prices may go down, but may not go down sharply any time soon, and GT-R prices may go down less or may go up instead. Couple this with the fact you have the chance to buy and start enjoying the car now, and I'd say go for it.
Thanks for this, all very true.Additionally, more focused cars like the GT-R tend to have better residuals anyway. And will there be a combustion-engined successor sold here? The phasing out of petrol engines will also tend to support R35 residuals I think.
IMO yes prices may go down, but may not go down sharply any time soon, and GT-R prices may go down less or may go up instead. Couple this with the fact you have the chance to buy and start enjoying the car now, and I'd say go for it.
Like you & others have said, just bloody buy it & enjoy it.
Also my good lady says if you want it get it..
Wheelspinning said:
Do it.
Keep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
Tanks for this.Keep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
Actually the one I’m looking at is Katsura Orange, completely standard.
Fantastic colour to be fair.
Wheelspinning said:
Do it.
Keep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
https://www.autotrader.co.uk/car-details/202111019106390?advertising-location=at_cars&postcode=So45%204rb&model=GT-R&sort=price-desc&page=3&make=Nissan&include-delivery-option=on&percentVehiclePriceDeposit=trueKeep it standard and you will suffer very little if any loss.
They dropped very little in value during 10yrs of production, so with production ceased, they shall remain firm with the best standard ones doing strong money regardless of the economy.
Katsura Orange if it was me.
Times are very different to 2008.
Dave3166 said:
Absolutely stunning car.In my opinion it will probably be worth £60k in 6-8 months time. I was in a similar situation when buying my Alpine A110 back in November, I concluded that another spec like the one I have isn't going to come up again (and it hasn't), so if it does end up halving in value I'll just go for a drive in a car that I love and I'll quickly forget all about it.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff