Car sales

[philw696]

I think wee bangers/ runabouts will be in demand as people will want to travel alone and cheaply.

Best keep my old Renault 4 then

 

[Ewan]

Travel alone and cheaply? That’s a Caterham. You’ve brought the thread full circle!

 

[highlander]

i agree, the market will take downturn, no idea how far but it will go down across the board. That said, I can say hand on heart, even if in 2 month time there is a good chance I would have got Mara a few quid cheaper, I would not have changed my mind about getting her now. The old adage of "buyer happy, seller happy" stands true.
#In for the long haul.

 

[DavidL]

Someone paid over £40k (including commission) for the 73k manual 456 at H+H. To my mind that's way overpriced but that's what it sold for.
I'd imagined it being 10k cheaper.

 

[allandwf]

Someone paid over £40k (including commission) for the 73k manual 456 at H+H. To my mind that's way overpriced but that's what it sold for.
I'd imagined it being 10k cheaper.

I would have thought around 40, but it may be the exact spec that person was looking for. I probably paid over the odds for my 348, but I wanted Black on black and a UK RHD, not regretted it.

 

[rossyl]

People who use public transport, will want to use a car due to safety from Coronavirus.

People who want a car because of safety, won't want to buy a "banger".

So your average SUV's both brand new and nearly new will sell.

As for the market for Luxury Cars. Luxury items always take a hit in times of recession. But, I think today's auction shows that the right car still sells and not for a devalued amount.

More likely is what we saw after 2008.

EXPORT

Luxury cars will be sold out of Europe to other parts of the globe. Yes, Coronavirus is global but Singapore us already recovering and some places will recover faster and better than others.

The pound is at its lowest for a generation, making Export extremely attractive.

Remember when Maserati's were all being shipped out to Australia only a few years back - I would expect a return to that.

I doubt we will see a catastrophic dip in the value of luxury cars.

The overinflated Classic market has been in the downturn for 18months, I see that continuing as prices were ridiculous.

 

[rockits]

I see we have lost the chap selling the 03 Black 4200 GT or Rockits has stolen it for £5,000.
Come clean Dean.

Not guilty....keeping my cash for the moment! Had no time to scratch my butt.

Also these pesky customers asking for remote working to be set up for all their staff is causing me headaches. I've been struggling to keep up for a year or so and going backwards most days. This CV and desire for remote working means I have even more chuffing work......good and bad!

I shouldn't complain of course but it is getting tiresome now.

 

[Swedish Paul]

So your average SUV's both brand new and nearly new will sell.

You are assuming people will have cash. Which they don’t. I can’t see many banks risking lending money to buy a second hand car just now.

 

[Wattie]

Due to get on a ferry to Liverpool and sail back to Ireland on Sat with a new car!

Hopefully I get there and back no issues but I believe the example is special but forking out a lot of liquid cash to get it! I know it’s a good buy but these uncertain times are concerning me!

Any words of wisdom?

Enjoy, what did you treat yourself to?

 

[Wattie]

I think you’re gonna see a reset of the car industry and how cars are purchased. It’s inevitable that people will default in this scenario- how will they get credit again?

 

[Wack61]

Due to get on a ferry to Liverpool and sail back to Ireland on Sat with a new car!

Hopefully I get there and back no issues but I believe the example is special but forking out a lot of liquid cash to get it! I know it’s a good buy but these uncertain times are concerning me!

Any words of wisdom?

Ask for your money back

 

[Nayf]

I think you’re gonna see a reset of the car industry and how cars are purchased. It’s inevitable that people will default in this scenario- how will they get credit again?

I’d imagine loans will be made available to those who can’t afford it again. Because everyone learned so much from 2008

 

[rockits]

This is my problem and massive issue. We never learn. When you do something that hurts you try not to do it again. However it seems some people never listen or learn or don't have their own minds.

I agree the whole car market will change significantly after this but it kind of was and would have been anyway. This is just a catalyst for faster changes I think.

 

[rossyl]

I think you’re gonna see a reset of the car industry and how cars are purchased. It’s inevitable that people will default in this scenario- how will they get credit again?

You are assuming people will have cash. Which they don’t. I can’t see many banks risking lending money to buy a second hand car just now.

I think we can learn from 2008. A global recession caused by lower income people taking on too much debt.

Tell me where we were in the short term aftermath of 2008?
The EXACT same position.
The High St collapsed, big and small established businesses shut and people were told mortgages/loans would be difficult to get, unemployment rose.

I doubt we'll see anything of the sort you are predicting, it would be too damaging. The economy will be pumped with money to keep it going.

In 2008 the Government Bailout was £955 BILLION !

The housing market was said to "reset" post crash. My house is worth more than double than it was is 2008. There was no reset.

The car industry was already changing with big brands supplying cars on a ZipCar like basis, short and long term. The way people own cars was already changing from owning, to renting per use.

If something like that was to happen it would be because the UK had sunk as an economy. A Brexit meets Coronavirus, the government sinks, the economy sinks etc....I doubt anyone would want that to happen. Including our Allies.

 

[philw696]

Thought you were talking about Marriage at first Dean

 

[rockits]

Thought you were talking about Marriage at first Dean

LOL....certainly does read that way! It can be applied to so many different things it seems.

I try to learn every day......why wouldn't you? Seems some don't have the same ideals.

When I had a brief business partner in 2014-2015 we had some issues 2nd year. My words were.....we are heading towards a brick wall at high speed....I would like to take steps to prevent this. His reply was.....well if it happens we will deal with it but I'll keep driving at high speed until we hit the brick wall!

We parted company and I dare say he will be bankrupt again or close to it now like he was many years before, that was never disclosed to me. Some folk are quite strange.

 

[Wattie]

Personally I think you’re gonna see an entire reset of the buying a car system. PCP etc

I think we can learn from 2008. A global recession caused by lower income people taking on too much debt.......

I doubt we'll see anything of the sort you are predicting, it would be too damaging. The economy will be pumped with money to keep it going......


The housing market was said to "reset" post crash. My house is worth more than double than it was is 2008. There was no reset.

oh where to start. all income earners have borrowed too much.... everyone is overstretched hence what’s happening. Companies borrowed to buyback stock, billions and billions! Were they low earners?

printing money in the quantities required to keep things afloat will cause hyper inflation- Zimbabwe?

your house is about to crash by 50% or more. It’s been in a bubble with its price linked to fake prosperity, debt will default everywhere.
Your house profits are fecked.

 

[rossyl]

Personally I think you’re gonna see an entire reset of the buying a car system. PCP etc

oh where to start. all income earners have borrowed too much.... everyone is overstretched hence what’s happening. Companies borrowed to buyback stock, billions and billions! Were they low earners?

printing money in the quantities required to keep things afloat will cause hyper inflation- Zimbabwe?

your house is about to crash by 50% or more. It’s been in a bubble with its price linked to fake prosperity, debt will default everywhere.
Your house profits are fecked.

How is this different from 2008?

I heard the same things then.

I saw the same levels of debt. If not worse. Big banks are required to collateralise their debt now.

I saw the same levels of of exposure. People over-extended then and now.

Where do you think the Government got £955bn from, a reserve fund?
They printed just short of a Trillion Pounds, into an economy that had shrunk by £60bn.

There was no hyperinflation.

Yes the stock market crash is worse this time round, but the situation is not that different.

Post crash last time wasn't so bad.

For what you're saying to take place, it would be a collapse of the economy.

There's so much scaremongering that goes on.

I think we're in the lucky position where everyone can remember what happened in 2008, and so hopefully there will not be panic caused by scaremongering.

 

[philw696]

I hope you're not right Wattie.
At nearly 58 I'm debt free and don't even have a credit card.
Like most of us I haven't always been debt free.
My house in the UK is for sale at the minute mainly to settle Divorce No2 but also to give me a fund with to play with the cars I want to and earn a living here in France.
At the minute I can see my workshop being storage for my 3 cars and 2 lawnmowers.
Not the exciting times I was hoping for.

 

[Wattie]

How is this different from 2008?

I heard the same things then.

I saw the same levels of debt. If not worse. Big banks are required to collateralise their debt now.

I saw the same levels of of exposure. People over-extended then and now.

Where do you think the Government got £955bn from, a reserve fund?
They printed just short of a Trillion Pounds, into an economy that had shrunk by £60bn.

There was no hyperinflation.

Yes the stock market crash is worse this time round, but the situation is not that different.

Post crash last time wasn't so bad.

For what you're saying to take place, it would be a collapse of the economy.

There's so much scaremongering that goes on.

I think we're in the lucky position where everyone can remember what happened in 2008, and so hopefully there will not be panic caused by scaremongering.

How’s this different from 2008?
Debts 10x higher for a start.
There was hyperinflation- stock markets and housing prices for a start!

Look How much have central banks thrown at the problem is the last week? Trillions, result zero.

The virus hasn’t even started in the Us yet.

I hateto say this but you are the classic example of people not having a clue.