What's going to happen to the car market?

[Regy53]

Prefer that car a lot more the exterior colour pops more and the wheels work better too.

The only negative and it is really nit picking is the seats are all leather instead of the leather / suede combo but when your spending 150k you have gotta love the car and it has to be perfect you really can’t have any regrets.

Don’t worry about carbon stuff as I’ve said it before Italia’s look cleaner without it and the big reason why people like Italia so much is the amazing clean looks which were lost when 488 cake along and of course the awesome noise was lost and if carbon is a must you can always add it via Ferrari at a later date for wallet breaking price or just get Chinese copies.

Thanks Gibbo, I agree with you it seems to pop more but actually its Rosso Corsa the same just the photos are manipulated i think, So it has 10000 less miles and just 1 keeper. The miles is a big plus as 10k is 2 years minimum motoring in my eyes but the interior as you say is now the other way and the leather while is actually very nice the suede door cards and seats really are nice.
They have confirmed they will do it for £144k. So a full 5k over the other car which is a lot of ££

Not sure what to do, the wheels on the other car can be made to be silver or another colour with ease but the rest of it is staying.

 

[Gibbo]

Thanks Gibbo, I agree with you it seems to pop more but actually its Rosso Corsa the same just the photos are manipulated i think, So it has 10000 less miles and just 1 keeper. The miles is a big plus as 10k is 2 years minimum motoring in my eyes but the interior as you say is now the other way and the leather while is actually very nice the suede door cards and seats really are nice.
They have confirmed they will do it for £144k. So a full 5k over the other car which is a lot of ££

Not sure what to do, the wheels on the other car can be made to be silver or another colour with ease but the rest of it is staying.

In Ferrari miles £5000 extra for 10,000 miles less is a bargain.

simply buy the car that when you see it you are just like wow.

I looked at loads of 458’s and I’d being looking at the my yellow one wishing I could afford it as it was listed just shy of 160k and I was unsure about yellow.

But when I viewed it my breath was taken away and even better I got £8000 of the price due to worn ceramics and as such a deal was done.

No regrets love the thing!

 

[Russinating]

I've always just used autotrader. It's surely the first place most serious buyers look unless they are after a 500 quid car or something specialist or performance?

I wouldn't go anywhere near Gumtree unless I wanted a 52 plate Saxo.

Well, sold today via Autotrader, so there you go.

 

[Regy53]

In Ferrari miles £5000 extra for 10,000 miles less is a bargain.

simply buy the car that when you see it you are just like wow.

I looked at loads of 458’s and I’d being looking at the my yellow one wishing I could afford it as it was listed just shy of 160k and I was unsure about yellow.

But when I viewed it my breath was taken away and even better I got £8000 of the price due to worn ceramics and as such a deal was done.

No regrets love the thing!

it does seem reasonable value but then im 99% certain then tyres are original, so money needed, the car misses some spec of the other which added value so it does get vaguer the more you look

I am 99% certain i need to get a double garage door too as the measurements i saw ( i think you gave) was within a inch. So the less spent is a benefit i am budgeting, seeing the lesser cars drop in value i.e a r8 v10 plus 17 is £75k so were nearly at two of them :O makes me think sod it get a lesser car


How many miles did it have for them to be done

 

[Gibbo]

it does seem reasonable value but then im 99% certain then tyres are original, so money needed, the car misses some spec of the other which added value so it does get vaguer the more you look

I am 99% certain i need to get a double garage door too as the measurements i saw ( i think you gave) was within a inch. So the less spent is a benefit i am budgeting, seeing the lesser cars drop in value i.e a r8 v10 plus 17 is £75k so were nearly at two of them :O makes me think sod it get a lesser car


How many miles did it have for them to be done

It is more use, my cars previous owner did a lot of track days and I am still on the same set, Ferrari as part of the deal did fit new pads all round and I purchased the car with 14,000 miles, the car now has 22,000 miles and the disc are heavily worn, I shall change them next year.

But I've seen some 458''s with 40,000 miles and the disc look as new, it is down to use and track days will hammer them pretty hard.

 

[Regy53]

It is more use, my cars previous owner did a lot of track days and I am still on the same set, Ferrari as part of the deal did fit new pads all round and I purchased the car with 14,000 miles, the car now has 22,000 miles and the disc are heavily worn, I shall change them next year.

But I've seen some 458''s with 40,000 miles and the disc look as new, it is down to use and track days will hammer them pretty hard.

Thanks very much,

Will decide tomorrow, i kind of want the low miles car but its actually more like 6k more with less spec... so got to draw a line somewhere, I suggested £143k delivered but they wont take it.

Somebody on pistonheads said they were offered if for 141k. Assume Ferrari have pushed the price up

 

[ultralaser]

Interesting that nothing major seems to have happened so far. I'm starting to see much better PCP deals but no major price shifts (second hand or new?).

 

[Dominic-Toretto]

Went to view a GTR a few days ago priced at £70k. A pcp at 6000 miles a year was giving a GFV of £20k which is insanely low. Salesman said lots of finance companies have dropped the GFV on cars substantially since covid. Anyone seen the same?

 

[Fusion]

Interesting that nothing major seems to have happened so far. I'm starting to see much better PCP deals but no major price shifts (second hand or new?).

Still relatively early days regarding job losses. Mortgage holidays are coming to an end soon which may start to alter the dynamic?

 

[Regy53]

Went to view a GTR a few days ago priced at £70k. A pcp at 6000 miles a year was giving a GFV of £20k which is insanely low. Salesman said lots of finance companies have dropped the GFV on cars substantially since covid. Anyone seen the same?

They are just limiting their risk. But to me it sounds like a rubbish finance company. Try magnitude finance

 

[EdGey]

Well, the cars I've been following seem to be going up in price if anything!

 

[Ahleckz]

Very little change in the used car market. The inherent value of used cars hasn’t dropped. Some dealers will struggle and some will go under which may mean cheap cars to release cash but there’s not going to be a huge change.

Volumes are down because everywhere is shut. It’s not indicative of a seismic change in customer behaviour re new cars.

I suspect there’ll be a big increase in short term used car sales. Plus we will see a further increase of dealers selling via online sales.

Called it.

 

[Vita]

Well, the cars I've been following seem to be going up in price if anything!

Yes I agree. Most have gone £2-3k up on price over the £10k bracket.

 

[HangTime]

If that's really the case I imagine it will be short-lived as it is probably just a result of severely contracted supply, with things opening up again I'd expect prices to return to normal levels.

 

[ericmcn]

The Covid19 situation is dreadful and depressing. And this thread isn't making light of the seriousness of the pandemic, but I hope its more like an opportunity to for a bit of distraction.

What do you think will be the effect of this situation on the car market? New and used. Ordinary cars and performance?

Personally I wanted to buy a little sporty weekend fun car, but I'm holding back now.
I know WBAC are dramatically dropping their offered prices and finance companies are nervous about lending...

Its ****ed - it must be worrying for many motorists who are on the leased out / hire thing and who have job issues, and that is not an insignificant number of people. The upshot is if you are a cash buyer the world is your oyster for used cars. It will all probably calm down but it wont be any time soon

 

[GreatAuk]

Does seem like used price rises have significant, especially for small cheap cars. Demand for used cars very high atm, and the used car supply chain struggling to keep up, according to this article:

https://cardealermagazine.co.uk/pub...ding-largest-growth-since-january-2019/196878

Does feel like a short term blip though, as there will be all the pent up demand from people looking at cars during lockdown, and getting one to avoid public transport. Also the supply chain having to adjust to social distancing etc atm slowing the supply down. Can imagine it dropping off again once things are more settled.

Think I'll be putting off my next purchase for a bit, see if things calm down and prices drop a bit. Ideally actually prices will stay higher for small cheap cars but drop for bigger ones, then I can sell my Yaris for a good price and get a good deal on a RAV4/Tiguan/Ateca/Kuga-type car (maybe ideally I'd sell my Yaris now and buy another one in a few months, but then I wouldn't have a car )

 

[Journey]

Well the June 2020 data is in, and it's not looking great.

New car registrations for June 2020 were 145,377 (a huge increase on the last 2 months) however that is 34.9% down YoY with June 2019 having 223,421 car registered.

If the trend continues for the rest of this year, then the total cars registered in 2020 will be ~ 40% than 2019.

Interestingly the most popular cars were very evenly spaced, but the Corsa, and Fiesta registered the most with 4,528, and 4,386 respectively, Tesla still still stayed in the top 10 at number 9 with 2,517 Model 3's registered.

 

[Joe T]

Well the June 2020 data is in, and it's not looking great.

New car registrations for June 2020 were 145,377 (a huge increase on the last 2 months) however that is 34.9% down YoY with June 2019 having 223,421 car registered.

You say not great, but it was actually quite a bit stronger than expected! As a result we have upped our forecast for the next 3 months

 

[Nasher]

OFC its going to be down, everything is down

 

[Journey]

You say not great, but it was actually quite a bit stronger than expected! As a result we have upped our forecast for the next 3 months

That is an interesting move given a few things, firstly we are moving out of the furlough period and redundancies/job losses are going to be way higher in the next 3 months, you've got the backlog of undelivered but previously ordered cars being worked through, and then you have the 70 plate in just 2 months.

As you said before you are in the predictions business, but there can't be much empirical data for these circumstances, only best guesses and maybe some data extrapolation from 2008 onwards.