vitessetony
Club Retro Rides Member
Posts: 1,055
Club RR Member Number: 114
|
|
May 19, 2020 21:14:25 GMT
|
Judging by the stories I'm hearing from customers it's a buyers market - helping people struggling for cash/fleecing desperate people struggling for cash depending on your viewpoint. I think this whole credit charade is gonna come tumbling down once the furlough/payment holidays are gone. There are far too many people who don't actually own anything even though they've got everything who are losing/about to lose their income. Sadly, I think you're right
|
|
|
|
|
ems1
Club Retro Rides Member
Posts: 295
Club RR Member Number: 5
|
|
May 19, 2020 21:25:36 GMT
|
My son got his 2013 Golf 2.0tdi valued at £5k with webuyanycar just before lockdown, a couple of weeks later during lockdown it had dropped to £3.3k
|
|
1985 Manta GT/E 16v 2001 VW T4 Caravelle
|
|
|
|
May 19, 2020 21:54:35 GMT
|
My VW van was valued by webuyanycar;
Before lockdown, 18k
Week after lockdown, 12k
Last week, 15k (was motorway not wbac, but similar thing)
On the basis that people can’t get out and about to buy cars, I think these reflect that they will be sat around for a while, and prices are starting to recover a bit based on possibility of markets opening up again soon.
I was searching to see if I could actually sell the van yet officially, as if I can’t do it officially then I really am in the hands of the buyer. The motorway site suggested that a 20k vehicle would lose around £500 in value as a result of this, so around 2%
So currently, I think it’s a buyers market but once the showrooms reopen then prices will be a little down on most stuff. The biggest impact will be from people trying to shed finance on expensive cars, which I think is mostly the new car finance sector. That would have an impact on new cars, but may mean there are more people looking for their insta lifestyle cars on a budget. So may buoy the market for 3-5 year old cars and even older ‘premium’ stuff
Classics and other stuff may drop a little bit, but most people will hold onto them if the price isn’t right, so I can’t see a huge glut of classics hitting the market straight away and forcing the price down, it’ll drop a little and be for a longer while.
But then, what do I know!
|
|
|
|
Dez
Club Retro Rides Member
And I won't sit down. And I won't shut up. And most of all I will not grow up.
Posts: 11,712
Club RR Member Number: 34
|
|
May 19, 2020 23:04:35 GMT
|
The very bottom end of the market for daily runners is already ruined, compounded by low scrap prices. It’s to the point you can’t give stuff away now if it has faults. Stuff that was £2k 2 months ago is now a grand. There’s a bit of an exception for super-economy stuff, but the rest is dire. Motor factors and breakers, the support network for this sort of car, are also taking a huge Hammering at the moment. Lots aren’t going to make it, which will conceivably make cheap second hand cars more expensive. The manufacturers will love that.
It’s different when it comes to second cars/toys, be it classics, kit cars, performance or whatever. Tbh if you can afford one you’re proabaly going to be fairly financially stable, (probably, unless you’re daft enough to buy one on tick)so as it’s money that’s already spent people will just keep em in the Garage as they generally do over the winter anyway, it only becomes an issue if the rug is pulled out from under people totally. We’re still about two months away from that yet though, and it depends on how much more the government borrow to keep propping up the system. But if they decide to stop doing that, the value of as second car will be the least of most people’s worries.
|
|
Last Edit: May 19, 2020 23:07:36 GMT by Dez
|
|
|
|
May 20, 2020 18:41:18 GMT
|
Spoken to a good friend yesterday Who sells 4x4 trucks, vans and bmw merc and Audi He’s been very busy selling from home rather than is car front at the moment All the talk of a price crash hasn’t as far as he’s concerned happened at the moment Personally I’ve never had it so good I work in the sales industry for a food supplier my company have had it off all the way through the pandemic as have many others Sometimes I don’t know whether to feel lucky or desperately sad for other people , but sadly life goes on regardless I personally can’t see property or car prices dropping dramatically That is just my own opinion
|
|
Last Edit: May 20, 2020 18:42:23 GMT by Mercdan68
Fraud owners club member 1999 Jaguar s type 1993 ford escort
|
|
|
|
May 20, 2020 19:06:43 GMT
|
Spoken to a good friend yesterday Who sells 4x4 trucks, vans and bmw merc and Audi He’s been very busy selling from home rather than is car front at the moment All the talk of a price crash hasn’t as far as he’s concerned happened at the moment Personally I’ve never had it so good I work in the sales industry for a food supplier my company have had it off all the way through the pandemic as have many others Sometimes I don’t know whether to feel lucky or desperately sad for other people , but sadly life goes on regardless I personally can’t see property or car prices dropping dramatically That is just my own opinion At the moment work has gone crazy-mad for us, we cant keep up, but our usual work has 80% been replaced by work we are doing in relation to PPE. Its clear to us that we wont know what things will be like for us after this event, until after this event, when it will go either way, the usual work will pick up again, or those companys in the chains we supply to have gone under and the work dries up. I feel that what ever happens to the car market currently, it wont be until later on that we will be able to tell where it settles.
|
|
Last Edit: May 20, 2020 19:07:26 GMT by bmcnut
|
|
merryck
Club Retro Rides Member
Posts: 477
Club RR Member Number: 9
|
|
May 20, 2020 20:53:02 GMT
|
Don’t feel bad for those who may lose out. I run a restaurant, or did in the before times. I’m potentially off until the end of furlough, there just isn’t going to be enough trade to make it worthwhile opening. After furlough ends I’m not sure where we’ll stand.
But that’s life, you win some and you lose some. We may be fine, but if not we built it once and we can do it again. The most galling thing is we won Burger Chef of the Year at the National Burger Awards in February and a month later we were closing the doors for the foreseeable future! Was certainly a bit of a come down!
|
|
|
|
ChasR
RR Helper
motivation
Posts: 10,191
Club RR Member Number: 170
|
|
May 20, 2020 20:53:41 GMT
|
In my opinion the 'classics' are going to keep on climbing, but its the modern stuff to watch out for.. Judging by the stories I'm hearing from customers it's a buyers market - helping people struggling for cash/fleecing desperate people struggling for cash depending on your viewpoint. I think this whole credit charade is gonna come tumbling down once the furlough/payment holidays are gone. There are far too many people who don't actually own anything even though they've got everything who are losing/about to lose their income. I agree with a combination of these answers. My car trader friends are really struggling as they can't really sell the run-of-the-mill stuff, and customers are haggling them hard. Part of the reason for this is they are taking in super ropey cars as PXes. People are now buying cars which they need to work, and so they are PXing absolute dross. The traders initally took these in, but are now stuck with these shagged cars. The classic car people however are doing very well it seems! So are the specialist cars! I was debating looking at an E61 M5 Touring in Indianapolis Red. it was at £15k. A funny colour but it worked and it was reasonably priced. I was debating going in a few k cheaper. TBH I shouldn't and should be sane; I may very badly want one and have the chance to get one, but I don't need a ruinously expensive car and house prices may change for me as a first-time buyer. I needn't have worried however,; it sold within 2 weeks! Same for a C6 RS6 Avant a friend is looking for. They still seem to be selling. Same deal for another classic friend of mine. So I'd agree partially with the above. We'll have to see how furlough loss etc. changes things. The furlough scheme is there for business as much as it is for the people however. A large UK car company, even if the lockdown was lifted tomorrow, would still be up the creek without a paddle as the rest of the world isn't buying ; the UK tends to be a small fish in a big pond, unless it's a BMW if the papers are to be believed.
|
|
|
|
|
|
May 22, 2020 11:46:51 GMT
|
Slightly off topic, I’m in lockdown, staying in the house due to family members shielding, I’m a full-time family carer. Obviously everything has been ordered in for delivery, and if I ask the question to those I’ve spoken to on the phone the answer I get is ‘it’s gone mad!’ Obviously not everyone is in this boat, but from a sidelines viewpoint I’ve found far more trading furiously than in trouble. Just an observation, I do feel for anyone who has seen their hard work ripped apart
EDIT- obviously everyone I’ve spoken to is still trading in some format
|
|
|
|
paul99
Part of things
Posts: 410
|
|
May 22, 2020 12:36:07 GMT
|
Judging by the stories I'm hearing from customers it's a buyers market - helping people struggling for cash/fleecing desperate people struggling for cash depending on your viewpoint. I think this whole credit charade is gonna come tumbling down once the furlough/payment holidays are gone. There are far too many people who don't actually own anything even though they've got everything who are losing/about to lose their income. Father in law is a retired car dealer, and would second this. Certainly the market for modern stuff is going to be flooded, with the resultant effect on prices.
|
|
|
|
|
kabman
Part of things
Posts: 348
|
|
May 22, 2020 16:01:24 GMT
|
I've got no idea. I've been half-looking for a 3-4 year old replacement daily for a while now, ready to jump on a good deal. Prices for the model I want actually went up over the last year or so and haven't come down any in recent months.
I've been listening to warnings about car or house prices crashing all my adult life (and that's a long time) and it's never actually happened.
|
|
|
|
vitessetony
Club Retro Rides Member
Posts: 1,055
Club RR Member Number: 114
|
|
May 22, 2020 16:22:59 GMT
|
I've got no idea. I've been half-looking for a 3-4 year old replacement daily for a while now, ready to jump on a good deal. Prices for the model I want actually went up over the last year or so and haven't come down any in recent months. I've been listening to warnings about car or house prices crashing all my adult life (and that's a long time) and it's never actually happened. I think it will depend on what car you're after but I think 2/3 months we will see some prices drop. It's a guessing game though, I've just bought a car after I told Mrs VT I was going to be waiting 6 months to get a cracking deal! She's used to me by now....
|
|
|
|
|
|
May 22, 2020 17:05:01 GMT
|
We are about due an almighty bang in the car market anyhow. I mean, really it just can’t go on can it? They knock em’ out at the same speed as tins of soup, in hundreds of factories all over the world. Daft deals at showrooms, ten bob a week or whatever, then start all over again 36 months later to keep the treadmill going. Two reg numbers a year, that was invented just to lull people into thinking their car is older than it really is & keep the whole thing going again. Then they come on the news telling you new car sales fell in the last quarter for the first time in 4 yrs or whatever & are genuinely amazed that it has happened!!! Do they seriously think that the figures can just keep climbing every quarter/year? Yes they do & it’s crazy.
|
|
|
|
|
|
May 22, 2020 21:02:11 GMT
|
Tough call. The market in general is fairly high, owing to limited stock being available since the last recession and the drive towards greener technology. Sure, we're talking about the classic scene, however if general prices are high, I don't see classic dropping too much. The prices will crash at some point nearer to banning combustion engines though, but I think the majority will hold their value through the next recession. Just don't expect to sell the less practical ones during this time...
|
|
Project - 1990 Trabant 601 Daily - 2006 Saab 93
|
|
|
|
May 23, 2020 19:38:11 GMT
|
Whilst some hard times are most certainly on the cards for the run of the mill modern dealers I don't think for one minute that the same can be said for classic / collectors vehicles but what you really need is the hard evidence that this type of car is actually selling and that purchases are genuine - you just cant use a bunch of adverts to make that assessment - I mean its just such a niche market how the hell can it survive when the world is such a state - The auction houses that specialise in our type of cars have quite quickly got their acts together with all of them going down the live on line route - thing is does it work - where is the hard evidence that backs my theory / statement - Silverstone Auctions produced a very varied line up of 84 vehicles today - everything from a Jowett Bradford Utility to Jaguar D type replica and absolutely everything in-between from a Factory Peugeot TI16 Group B rally car to a Polski Fiat 126P Prices paid also varied everything from £3,400 to £335,000 (premium exclusive at that too - add another 10% + vat on the premium to those prices) - proof is in the pudding then with an impressive 84% of the cars on offer 'SOLD' www.silverstoneauctions.com/events/2020-auctions/the-may-live-online-auction/the-may-live-auction/classic-carsNow - what's that hearsay thing about a huge price crash of classic / collectors cars ?
|
|
Last Edit: May 23, 2020 19:43:28 GMT by Deleted
|
|
retrolegends
Club Retro Rides Member
Winging it.....Since 1971.
Posts: 3,714
Club RR Member Number: 94
|
|
May 23, 2020 22:42:34 GMT
|
I see a next scrap heap challenge, sorry scrapage scheme again as an economic smoke screen to (cough cough) boost the motor industry 😂
|
|
1974 Hillman Avenger 1500DL1992 Volvo 240SE1975 Datsun Cherry 100a flying custard1965 Hillman SuperMinx Rock N Roller1974 Austin Allegrat Mk1 1.3SDL1980 Austin Allegro Mk3 1.3L1982 Austin Allegro Mk3 on banded steels2003 Saab 9-3 Convertible 220bhp TurboNutter1966 Morris Minor 1000 (Doris) 2019 Abarth 595C Turismo (not retro but awesome fun) www.facebook.com/DatsunCherry100a
|
|
|
|
|
Price crash or not, that lot kept me occupied (and drooling) for a couple of Sunday hours, thank you for the link. Some lovely stuff there, and well presented, which makes such a difference.
|
|
|
|
duncanmartin
Club Retro Rides Member
Out of retro ownership
Posts: 1,320
Club RR Member Number: 70
|
|
May 24, 2020 10:41:08 GMT
|
Whilst some hard times are most certainly on the cards for the run of the mill modern dealers I don't think for one minute that the same can be said for classic / collectors vehicles but what you really need is the hard evidence that this type of car is actually selling and that purchases are genuine - you just cant use a bunch of adverts to make that assessment - I mean its just such a niche market how the hell can it survive when the world is such a state - The auction houses that specialise in our type of cars have quite quickly got their acts together with all of them going down the live on line route - thing is does it work - where is the hard evidence that backs my theory / statement - Silverstone Auctions produced a very varied line up of 84 vehicles today - everything from a Jowett Bradford Utility to Jaguar D type replica and absolutely everything in-between from a Factory Peugeot TI16 Group B rally car to a Polski Fiat 126P Prices paid also varied everything from £3,400 to £335,000 (premium exclusive at that too - add another 10% + vat on the premium to those prices) - proof is in the pudding then with an impressive 84% of the cars on offer 'SOLD' www.silverstoneauctions.com/events/2020-auctions/the-may-live-online-auction/the-may-live-auction/classic-carsNow - what's that hearsay thing about a huge price crash of classic / collectors cars ? Harry's Garage did a preview of this auction, with specific attention paid to some of the cars like the D types, the Mercs and that Peugeot. That's well worth an ogle. I agree with you about rare cars like the Peugeot, Facel Vega, GT40, and proper collection spec stuff like the Jag MkII. There is relatively little modern machinery in that auction, and those are high spec high performance cars. They seem to have hit about what you would expect - 30k for a DB9 is pretty normal (the 126 is slap bang in the middle of the price range of similar cars on eBay - if it is as good as it looks it might be a little cheap). I'd be curious about how the likes of BCA are doing with their fleet disposal stuff - how 2017 BMW 320s are selling will tell us more about how regular car dealers are thinking.
|
|
|
|
ChasR
RR Helper
motivation
Posts: 10,191
Club RR Member Number: 170
|
|
|
We are about due an almighty bang in the car market anyhow. I mean, really it just can’t go on can it? They knock em’ out at the same speed as tins of soup, in hundreds of factories all over the world. Daft deals at showrooms, ten bob a week or whatever, then start all over again 36 months later to keep the treadmill going. Two reg numbers a year, that was invented just to lull people into thinking their car is older than it really is & keep the whole thing going again. Then they come on the news telling you new car sales fell in the last quarter for the first time in 4 yrs or whatever & are genuinely amazed that it has happened!!! Do they seriously think that the figures can just keep climbing every quarter/year? Yes they do & it’s crazy. I heard Merc used to keep back their ex-lease cars from hitting the dealers again, so as to keep the prices firm. The fact is, the manufacturers can't really 'sell' the cars now. After all, you can buy another one new soon on a cheap lease deal. If what I have heard is true, manufacturers will look to be demand-led, not to figures which they want. That will mean they will only produce what they actually sell ; amazing I know in a world of "I want this car tomorrow!". Sounds great doesn't it? Yes, except you can bet -Workforces for these companies will become more volatile ; that's potentially 1,000s of people collectively directly involved in the motor trade out of work -Their suppliers also going down under and so even more staff ; precarious suppliers which were in administration prior to the lockdown seem to now be slipping into it. From a non-car point of view, look at Debenhams. That is going to hurt alot. So yes, I can see another scrappage scheme arriving. Just like 80s and 90s cars were hit the hardest, it will this time being the 00s and possibly early 10s stuff which is this time. A bit of a shame as the 00s stuff had MPG combined with good driving dynamics and tinkerability also offered in the mix .
|
|
|
|
madmog
Club Retro Rides Member
Posts: 1,153
Club RR Member Number: 46
|
|
|
The ULEZ tax rolling out to the North and South Circular roads of London are going to make lots of cars cost an extra £12.50 a day. Ie petrols must be Euro4 and diesels Euro 6. I suspect these cars will be selling cheap to the home counties and beyond pulling prices down.
|
|
|
|
|