Used car residuals?

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Is the Coronavirus putting people off buying used cars, will the market crash? Opinions..
I think I'll find out shortly! I'll soon be putting my 2010 r230 SL350 up for sale. I'll price it competitively and see what happens!
 
Just contacted a local dealer about a vehicle for my son , price has dropped by £500 in the last 24 hours. Going to pop in and have a chat tomorrow and see how bad they need to shift the car.

K
 
Just contacted a local dealer about a vehicle for my son , price has dropped by £500 in the last 24 hours. Going to pop in and have a chat tomorrow and see how bad they need to shift the car.

K

Don't forget to stay 6 feet away from the salesperson.


This is not Corona Virus advice, you should always stay 6 feet away from sales people :D
 
Just contacted a local dealer about a vehicle for my son , price has dropped by £500 in the last 24 hours. Going to pop in and have a chat tomorrow and see how bad they need to shift the car.

K
Wow, if you can afford to buy, and especially if you can afford to wait, I really would.
1. I believe prices are going to be affected a lot more; and,
2. If we get total lockdown (likely in my view), you'll have paid for something to sit there. If the cash is of no use and you're mortgage free, then this would be much less of a concern.
 
I believe prices are going to be affected a lot more

I agree , we are both off tomorrow and the dealer is only four miles so best get out and a bout when we still can.

A Clark have a load of the cars that he fancies - Seat Ibiza FR Tech. They are all just turned three years old so possibly end of lease / PCP cars.

The P/X value of his Fiesta will have gone down but it is the changeover figure that will be the deciding factor.

K
 
I agree , we are both off tomorrow and the dealer is only four miles so best get out and a bout when we still can.

A Clark have a load of the cars that he fancies - Seat Ibiza FR Tech. They are all just turned three years old so possibly end of lease / PCP cars.

The P/X value of his Fiesta will have gone down but it is the changeover figure that will be the deciding factor.

K
A salesman told me that the way to get the best deal is to ask only what the cost to change is - the salesman normally has to decide whether you are the type of person who wants a bargain on the replacement or thinks their car is worth a lot more than it is to the trade - by giving the cost to change you can decide whether you got a bigger discount on the replacement or more for yours !
I think most main dealers offer about the same price as WeBuyAnyCar so run the Fiesta through that and then work out what you want to pay as the cost to change. I think the way things are dealers won’t be interested in px’ing unless there is a big difference against the replacement. The car auctions are selling only over the internet so buyers will be scarce as they can’t view the cars so dealers can’t tip the px’s into an auction for early money.
 
A salesman told me that the way to get the best deal is to ask only what the cost to change is

Two weeks ago we were being offered £4.5k against a 66 plate £8.5k Seat so around £4k to change , the 17 plate ones are around £9k.

I would be happy with £4.5 to change over with their two year service plan + MOT thrown in as a sweetener if there were no more ££ to be negotiated.

Having said that the **** has fallen out pretty much everything and everyone at present so I very much doubt if our original valuation would be the same.

Used 2017 (17) SEAT Ibiza 1.2 TSI 110 FR Technology 3dr in Glasgow | Arnold Clark

K
 
Let’s not forget that those 20 reg cars are rolling out to their new owners.

Might seem a long way away, but the trade will be clearing older cars to free capital for the trade-in / ex-lease 16 and 17 reg cars...

Don’t ya love those new car buyers eating all that depreciation, hidden in low interest finance packages?


Sent from my iPhone using Tapatalk
 
Car traders are about to be faced with a load of stock on their books with no buyers and many months of shut down. If they are not today seriously interested in shifting everything they have to get into cash, they are going to be in for a shock next week.

This week, Bozza said (paraphrasing) "we are not going to restrict peoples civil liberties; people in this country know how to behave in a crisis and we can trust them to do the right thing. We'll biff corona virus on the nose when it pops it's head up, then we will move on to Brexit and give that a quick one-two and bosh it into submission before supper".

Two things:
1. Panic buying and I'm still seeing load of people out everywhere socialising because the Government's advice is weak at best. What if you didn't watch the news yesterday (because you were at work) and you open you coffee shop today? I don't believe it's law, and there's not even a Government website where you can get any information; it's all reliant on what journalist tease out of the three spokes people after each announcement but never written up definitively.
2. Given the recent private prosecution against Bozza for basically lying through his teeth in the Brexit propaganda, the court ruling was essentially that politicians should be expected to lie their pants off and can't be trusted, which was a first class season ticket for politicians to porky pie central.

It is said that the people get the leaders they deserve, and boy do we deserve what we have now.
 
Fun Fact: "We buy any Car" is, of course, owned by "British Car Auctions."

Not many people know that.

And "they say" that more women sell second hand cars (to them) than men.

Other opinions are available.

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So long as the 80% wage offering from Rishi works out for the most, i can't see prices being drastically dropped unless they were already inflated.

However i can see some private dealers offering steals to get into cash.
 
I would be happy with £4.5 to change over with their two year service plan + MOT thrown in as a sweetener if there were no more ££ to be negotiated.

Popped into the main VW dealers today to look at the car , five salesmen sitting in a circle throwing a ball around due to lack of customers , car was parked round the back covered in road dirt , when a salesman eventually dragged himself away from his wee game with the ball he couldn't find the keys. They knew we were coming so at least "token" wash the damn thing and have the keys available.

Anyway , started at £6k to change giving us just £3k for the Fiesta , parted company at £4.6k to change - seems Fiesta now valued at £4.4k. Left the salesman with our final offer - £4.5 so lets see what happens tomorrow as they need the sale more than we need a new motor.

K
 

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