What's going to happen to the car market?

Dave85 · 25 Mar 2020 at 15:47

The polo is due to go back in July be interesting to see what happens with it if this is all still ongoing. it's final value fee might be negotiable?

paradigm · 25 Mar 2020 at 16:04

I was meant to be replacing the S3 this year, was tempted to go electric (as free charging at work), but right now I'm not sure if paying it off is a better idea.

A few discussions on PH about some of the cheaper "exotics" dropping in value, could get tempting.

Vita · 25 Mar 2020 at 16:22

Just out of interest what kind of cars do people reckon will be had at some what of a decent price?

Older Japanese performance models
Or newer German performance models?

I’ve been watching the market and some stuff has fallen but not by much.

JustBen · 25 Mar 2020 at 17:02

I've recently changed jobs to one with a higher income that is not being affected by the virus apart from working from home. Been eying up using some my disposable income on a car, either leasing or going for something like a 20k car on hp with a sizeable deposit but with what's going on I'm going to hold fire incase a better deal comes along or the finance on hp drop. Mercedes currently have 12% apr which is shocking

Jonnycoupe · 25 Mar 2020 at 18:57

Maccapacca said:
I was a day away from committing to an iPace. Now I'm keeping what I have and binning the deal on the iPace.

Don't want a 75k car sat not being driven with another car I can't sell and need to insure and keep running

Sad to hear, but understandable.

Resident · 25 Mar 2020 at 19:04

Nasher said:
At least petrol is dirt cheap at the moment!

Yeah, it's cheap now no-body is really around to use it. I'll put every penny I own on the that it's suddenly mid 130s as soon as the lockdown is lifted.

Chris1712 · 25 Mar 2020 at 19:18

The transition to EV will accelerate that’s for sure.

Nasher · 25 Mar 2020 at 19:19

Resident said:
Yeah, it's cheap now no-body is really around to use it. I'll put every penny I own on the that it's suddenly mid 130s as soon as the lockdown is lifted.

The oil price is rock bottom at the moment. Saudi etc have produced way to much so there will be cheap barrels around for a while.

Psycho Ned · 25 Mar 2020 at 19:21

I was going to look at some EVs this month to replace my Civic but pulled back on it when I saw things were going south!

Will revisit post apocalypse when hopefully there are some decent used deals about!

Nasher · 25 Mar 2020 at 19:24

There won't be any electricity post apocalypse. We will have to fight over petrol to fuel extremely uneconomical V8s.

jamoor · 25 Mar 2020 at 20:53

I was planning to buy an Evora but after the stuff hit the fan, I think I will wait it out and hope I can pick up one for £15k.

I can't see them going up in price that's for sure.

Nasher · 25 Mar 2020 at 21:54

Can't see them ever going that cheap. Good Elises are still around 13-15k and are only creeping up. Though the Elise is cheap to run so that might be a factor.

Gibbo · 25 Mar 2020 at 22:30

jamoor said:
I was planning to buy an Evora but after the stuff hit the fan, I think I will wait it out and hope I can pick up one for £15k.

I can't see them going up in price that's for sure.

They won’t go up but 25k cars won’t all of a sudden become 15k cars either especially with so few for sale, 15k is a pipe dream, 20k maybe if you get lucky or it’s a bottom of market car.

Dis86 · 25 Mar 2020 at 22:32

Nasher said:
There won't be any electricity post apocalypse. We will have to fight over petrol to fuel extremely uneconomical V8s.

Witness meeeeee!

jamoor · 25 Mar 2020 at 22:43

Gibbo said:
They won’t go up but 25k cars won’t all of a sudden become 15k cars either especially with so few for sale, 15k is a pipe dream, 20k maybe if you get lucky or it’s a bottom of market car.

Yeah true, but one can hope

EdGey · 25 Mar 2020 at 23:44

I'll soon be in the market for a reasonably new (2018) golf GTI. I was looking to buy one in August so we'll see.

Brok · 26 Mar 2020 at 08:46

I had a new car on order and a buyer lined up for my (5 year) old current car. Before the new car arrived, buyer understandably pulled out and with so much uncertainty around I decided sinking a large amout of cash into a rapdily depreciating asset was probably not a smart move so cancelled my order. Equally I had no appetite for trading in an asset I owned against a PCP type deal. It was a luxury purchase rather than a necessity so I will wait and see what happens in the market and maybe pick up a bargain in a few months if the world situation stabilises and I'm certain of my financial security.

I guess if this is typical, there is going to be a glut of new cars on the market in the short term until the factory wind-downs start to throttle the supply.

Jony27 · 26 Mar 2020 at 09:13

As most people have pointed out, it'll be interesting how Joe from the local chippy keeps up with his monthly payments for his brand new Golf R.
I'm sure there will be a lot of people's credit score tanking after this.

Terminal_Boy · 26 Mar 2020 at 09:16

Rroff said:
Won't lie I'm hoping if/when things go back to normal I can pickup a good deal on a new or nearly new vehicle.

I’d be shocked if you couldn’t. The dealer franchises that haven’t gone bust will be utterly desperate to shift their stock and next to no-one will have any money.

“Discount for cash” could well become a thing again.

Resident · 26 Mar 2020 at 09:18

Nasher said:
The oil price is rock bottom at the moment. Saudi etc have produced way to much so there will be cheap barrels around for a while.

Might be low for now but the second it goes up by 1cent the pump prices will rise regardless of pre-produced barrels. Yet when barrel prices fall it takes weeks to see it at the pumps.