Buying during the Covid19 pandemic

road_high · 24-05-2020 11:23pm

L-M wrote: »

Word around is prices aren’t dropping, mainly because of the UK import situation changing, and the lack of new cars sales therefore lack of used car stock and if it continues throughout the year it’ll create a further shortage.

I can assure you dealers are very keen to move stock, but if you’re expecting cars to drop by 2/3k it won’t happen. Not unless things change

Was probably longer term back then but used prices rose significantly around 2012 onwards after the last recession as there was a severe shortage of good used cars due to collapsed new sales 2009-2010. Obviously not at that point here but car ownership rates have remained high and demand may even increase as people are scared off public transport

MrMusician18 · 24-05-2020 11:30pm

poker--addict wrote: »

Hi all,

With show rooms reopening, I am on the look out for a used car.

What do we think the supply and demand situation is likely to be in the coming weeks.

Has the consumer gained negotiation leverage? If so, much?

One thing which could throw the whole used car market open is if one of the big car hire companies goes to the wall. A couple of hundred near new used cars coming to market at the same time would dramatically effect prices here. Hertz North America has gone into chapter 11 bankruptcy (what we would recognise as administration) due to the pandemic, and I wouldn't be surprised to see some of the big names fall this side of the Atlantic too.

SummerK · 24-05-2020 11:52pm

Toyota is offering upto €2000 discount if you finance car with them. I remember they had something called as trade in booster but now they have this discount if you’re not trading in a car.
If new car prices are going down (seat, toyota) then I think used car prices would go down eventually.

bazz26 · 25-05-2020 12:08am

What rate is their finance? You need to be careful, if their rate is high compared to other lending institutions then the interest paid could eat away at that 2k over the term of the finance.

SummerK · 25-05-2020 1:07am

bazz26 wrote: »

What rate is their finance? You need to be careful, if their rate is high compared to other lending institutions then the interest paid could eat away at that 2k over the term of the finance.

It’s 3.9% APR, same as earlier.

L-M · 25-05-2020 7:15am

The problem is new cars are so expensive that knocking 2000 off a 45k Rav for isn’t going to effect the prince of a 2018 at 24k.

Seat always prostituted itself for new car sales also so nothing new there

SummerK · 25-05-2020 10:02am

L-M wrote: »

The problem is new cars are so expensive that knocking 2000 off a 45k Rav for isn’t going to effect the prince of a 2018 at 24k.

May or may not on a 2018 RAV4 but it will effect 2019 RAV4 for sure. New Luna costs roughly 37.5k after discounts and main dealers are selling 2019 RAV4 Luna for over 35k

. I see a need for price correction if they want to shift used stock.

Seat always prostituted itself for new car sales also so nothing new there

True, but discounts on a new car will effect pricing of 2019 and 2020 used stock to some extent.

L-M · 25-05-2020 9:04pm

One year old cars aren’t a gauge of used cars prices. They’re usually ex demos and the dealer would generally get very little from the manufacture to do one, so generally the prices are high because they’re trying to limit a loss.

ordinaryfella · 25-05-2020 9:31pm

Leonard Hofstadter wrote: »

Of course, you're still supposed to stay at home unless it is for exercise or for an essential reason, but going to a car showroom counts now they've been allowed to re-open.

Gotta say i'm a little confused by this. As showrooms are now open is it now reasonable to travel > 5km to view a car?

poker--addict · 25-05-2020 11:58pm

I’m not seeming many police on roads at moment, nor anyone getting too excited about the 5km. The roads now are as busy as any time when school is out. People getting very excited/confused about NCTs too, can’t see any police or insurance company holding an expired NCT against anyone who is remotely genuine.

A sensible drive into a garage which is doing some basic hygiene measures and allowing solo test drives, and doing social distance isn’t a threat to anyone. What the government don’t want is crowds of people raving and in each other’s face.

The whole ozone cleaning of cars seems like nonsense too. Stick a mask on, give the surfaces a rub of a disinfectant wipe and don’t hug the car dealer. Wash hands, consider waiting if underlying issues or in an at risk group.

It seems the Northern Irish car show rooms are at least 2-3 weeks behind the Republic.

poker--addict · 26-05-2020 12:01am

MrMusician18 wrote: »

One thing which could throw the whole used car market open is if one of the big car hire companies goes to the wall. A couple of hundred near new used cars coming to market at the same time would dramatically effect prices here. Hertz North America has gone into chapter 11 bankruptcy (what we would recognise as administration) due to the pandemic, and I wouldn't be surprised to see some of the big names fall this side of the Atlantic too.

Good point. Not heard anything but the airports are empty, and the U.K. are making it a total mess with their 14 quarantine (which can be avoided by flying via Dublin).

ordinaryfella · 27-05-2020 12:39am

poker--addict wrote: »

A sensible drive into a garage which is doing some basic hygiene measures and allowing solo test drives, and doing social distance isn’t a threat to anyone. What the government don’t want is crowds of people raving and in each other’s face.

Yeah this makes sense, and guess it was along my lines of thinking. Looks like driving 200km to look at a private car in NI is out the window for a bit.

bcklschaps · 28-05-2020 12:13pm

In the same boat as a few other posters.

Looking to buy a used SUV. Nearly pulled the trigger on one earlier this week, but slept on it and didn't bother in the morning.

I have a runaround yoke thats covering me at the moment soo no rush.

Am I correct in assuming we will have an 08'-09' style glut of near new SUV's at the auctions again later in the year? Finance repossessions etc.

Marcusm · 28-05-2020 3:25pm

poker--addict wrote: »

Good point. Not heard anything but the airports are empty, and the U.K. are making it a total mess with their 14 quarantine (which can be avoided by flying via Dublin).

Hertz has ads all over the radio desperately trying to sell cars.

nu_90 · 28-05-2020 8:57pm

What's the chances of being told to turn around and go home if I'm to drive from Clare to cork tomorrow to buy a private sale car ? Ennis to cork city. Risky or risk it ?

Essential journey really if I need to change car?

Leonard Hofstadter · 28-05-2020 9:03pm

nu_90 wrote: »

What's the chances of being told to turn around and go home if I'm to drive from Clare to cork tomorrow to buy a private sale car ? Ennis to cork city. Risky or risk it ?

Essential journey really if I need to change car?

A bit far really unless you're buying something particularly rare/unique/interesting?

While it is possible to exceed the 5 km for things like car purchases, I think going all the way to Clare is well beyond what could be deemed a necessary journey.

They've said there's gonna be checkpoints over the weekend by the way.

PS: I get that everyone is a bit cheesed off and that we all want normality back - and sooner rather than later, but it's not worth the risk IMHO. I work in clinical trials for a living so I can assure you that my view is a science based one, and I'm not trying to take a holier-than-thou approach. We're not saying these types of things because we have some sort of secret wish to make life a misery for everyone, but because it's so important that we all stick together to make sure we keep the virus totally suppressed. Easing up too soon can have catastrophic consequences and could lead to restrictions being re-imposed (as we've seen in China, Hong Kong and South Korea) - the last thing any of us want.

I know it's only one person and only one movement, so I'm not intending to have a go at you - but the point is, if we all decide we're going to ignore the rules then we will all have to suffer the consequences, be it the a delay in re-opening things or the risk of too many people getting re-infected, leading to yet another lockdown.

L-M · 28-05-2020 9:13pm

bcklschaps wrote: »

In the same boat as a few other posters.

Looking to buy a used SUV. Nearly pulled the trigger on one earlier this week, but slept on it and didn't bother in the morning.

I have a runaround yoke thats covering me at the moment soo no rush.

Am I correct in assuming we will have an 08'-09' style glut of near new SUV's at the auctions again later in the year? Finance repossessions etc.

You wouldn’t get finance on an 08/09 car, so, no.

bazz26 · 28-05-2020 11:38pm

nu_90 wrote: »

What's the chances of being told to turn around and go home if I'm to drive from Clare to cork tomorrow to buy a private sale car ? Ennis to cork city. Risky or risk it ?

Essential journey really if I need to change car?

Not a good idea imo. Whatever about it being essential to change car, it wouldn't be as essential to travel through 3 counties to buy one. Also with it being a bank holiday weekend I'd say you would meet a checkpoint before you even leave Co Clare and told turn around. They also have random checkpoints on the M18/N18 around the Limerick tunnel as well as the slip roads coming on and off it. I'd be very surprised if you didn't meet a checkpoint passing through 3 counties.

nu_90 · 29-05-2020 12:09am

Cheers for replying Leonard and Bazz.
I get you both 100%. It's a car iv been waiting on for a while spec wise and the owner is in same boat regarding restrictions like the rest of us. Just that bit too far id say. For now...

ustari · 29-05-2020 10:24am

L-M wrote: »

You wouldn’t get finance on an 08/09 car, so, no.

I think he meant that it would be similar to the recession when 08/09 nearly new cars came up and there were deals on them.

xboxdad · 29-05-2020 12:26pm

Hello everyone,

I'm about to pick up a car from a dealer (not too far), but I have an issue with coming back with two cars (old+new).

So on the way there I have the old car with insurance on it.

On the way back I have two cars, but insurance transferred to new car so old car is without insurance at this point.

I don't want to get into a taxi or into a friend's car / etc... during the pandemic so how do I resolve this? (the dealer struggles with staffing, can't deliver it to me)

Any brilliant ideas please?

Update: Allianz just replied. They can insure the old car for a day when the insurance is already on the new car. It's 50 EUR, so not cheap, but at least a solution.

bazz26 · 29-05-2020 12:52pm

If it's not too far as you say, could you not walk or cycle to the dealer?

galwaytt · 29-05-2020 1:01pm

bazz26 wrote: »

Not a good idea imo. Whatever about it being essential to change car, it wouldn't be as essential to travel through 3 counties to buy one. Also with it being a bank holiday weekend I'd say you would meet a checkpoint before you even leave Co Clare and told turn around. They also have random checkpoints on the M18/N18 around the Limerick tunnel as well as the slip roads coming on and off it. I'd be very surprised if you didn't meet a checkpoint passing through 3 counties.

We sold our car this week - 1st caller, 1st viewer - got v.close to my desired price (and no, couldn't NCT it for the sale either: but that's the new norm, so people will need to get over it). Buyer came from (almost) Sligo, to Galway to view, came back 2 days later to collect.

3 cars we are interested in during the week all sold (from dealers). I visited several yesterday, and at Michael Moore's in Athone there was a queue. Make of that what you will.

I travelled 260 miles yesterday to look at 3 cars in one trip, and bought one. Galway - Kildare - Dublin - Galway.

If you need a car for transport (and which we do, having sold ours), then yes it is essential. And no, you can't make me buy it 'locally' when the one I want isn't a) there or b) isn't price competitive.

So, I've seen both sides of the coin in a week.

We didn't leave the car we travelled in other than to buy a sandwich/drink, and to look at the prospective purchases. You'd be riskier going to the local supermarket.

xboxdad · 29-05-2020 1:04pm

bazz26 wrote: »

If it's not too far as you say, could you not walk or cycle to the dealer?

Ah, no. Farther than that.

L-M · 29-05-2020 7:44pm

Have to say we’ve had people travel from every angle of the country shopping and buying cars in the last two weeks and I’ve not heard of a single person stopped,

I also know of someone who drove up North and bought a tractor and met no one.

I myself haven’t met a checkpoint in two weeks either.

L-M · 29-05-2020 7:57pm

ustari wrote: »

I think he meant that it would be similar to the recession when 08/09 nearly new cars came up and there were deals on them.

Sorry, you’re dead right

xboxdad · 30-05-2020 9:43am

I need to sell my old car as I'm buying a new one, but I lost the logbook... I sent in the form and I can see it via tracking that it got delivered on Wednesday.
How long does it take to receive the new logbook these days? Did any of you try recently?

bazz26 · 30-05-2020 11:57am

In normal times it used take about 5 working days but who knows how long these days. If your trading it in at a dealership then they may not bother asking for it, if they do just tell them that a replacement is due and you will drop it into or post it on to them as soon as you get it. If your selling privately then you will just have to wait for it to arrive.

xboxdad · 30-05-2020 12:35pm

bazz26 wrote: »

In normal times it used take about 5 working days but who knows how long these days. If your trading it in at a dealership then they may not bother asking for it, if they do just tell them that a replacement is due and you will drop it into or post it on to them as soon as you get it. If your selling privately then you will just have to wait for it to arrive.

Dealerships didn't want it at all, it's too old for them. It still has value on Carzone, so I'll have to wait for the logbook to arrive. Thank you!

Trimm Trabb · 30-05-2020 1:19pm

xboxdad wrote: »

I need to sell my old car as I'm buying a new one, but I lost the logbook... I sent in the form and I can see it via tracking that it got delivered on Wednesday.
How long does it take to receive the new logbook these days? Did any of you try recently?

Did it in last few weeks.. can't remember exactly but ws quicker than I expected.. 7 days maybe.

L-M · 30-05-2020 5:53pm

Go to www.motortax.ie and go to Vehicle Transaction enquiry and type in the Reg.

It’ll tell you whether a new cert has been issued or not yet

xboxdad · 30-05-2020 5:54pm

L-M wrote: »

Go to www.motortax.ie and go to Vehicle Transaction enquiry and type in the Reg.

It’ll tell you whether a new cert has been issued or not yet

Great piece of information! Thank you.

bcklschaps · 02-06-2020 8:09am

L-M wrote: »

You wouldn’t get finance on an 08/09 car, so, no.

Was referring to the 08/09 recession, when things got tight, there were some great bargains to be had in the classifieds and at auctions

.... Have about 10k budget soo would expect to be getting a 13' or 14'.

Have picked up some great deals at Auctions in the past .... find them good, as long as a buyer would be fairly flexible about the specific brand/model and spec level etc. and can live with the fact that the car was repossessed from some unfortunate (and probably hasn't been serviced in God knows when

)

Would like to hear of other peoples experiences at auctions ?

Large bottle small glass · 06-07-2020 8:15am

It's a funny recession!

My friend with the couple of dealerships has sold a lot of good quality used cars in last month or two. Seems very upbeat compared to 3 months ago.

Used car dealer nearby who has a lot of nice imported UK stuff had 10 Merc for sale a month ago and now has 3.

With people staying at home, no pub, restaurants, holidays, commuting etc they have more money for car shopping I suppose.

bazz26 · 06-07-2020 12:53pm

Large bottle small glass wrote: »

It's a funny recession!

My friend with the couple of dealerships has sold a lot of good quality used cars in last month or two. Seems very upbeat compared to 3 months ago.

Used car dealer nearby who has a lot of nice imported UK stuff had 10 Merc for sale a month ago and now has 3.

With people staying at home, no pub, restaurants, holidays, commuting etc they have more money for car shopping I suppose.

Wouldn't that sort of mean they would have less use for a car then?

I'd say it's more to do with the lack of new cars available, not wanting to fully commit to spending big on a brand new car or maybe the restrictions/concerns of travelling to the UK for one.

L-M · 06-07-2020 11:04pm

A few people I’ve sold cars to were returning to car ownership after a stint of not owning due to not wanting to use public transport.

You could say the demand is coming from anywhere, it’s hard to quantify.

Leonard Hofstadter · 12-07-2020 12:10am

L-M wrote: »

A few people I’ve sold cars to were returning to car ownership after a stint of not owning due to not wanting to use public transport.

You could say the demand is coming from anywhere, it’s hard to quantify.

People who work in the public sector and those in multinationals will see out this recession unaffected, people in those categories have had 2-3 months of being able to spend diddly squat.

While the upcoming recession will be bad for many people, for others they will be able to carry on as if nothing happened and thus can well afford to upgrade their car.

Fantomas9mm · 10-08-2020 1:43pm

Hey folks.

I’m humming and hawwing about getting a new car from the dealership.

I had intended to trade in this year but common sense(Debatable) tells me that if I wait , that prices will come down !

Is this accurate do you think ?

Would 2021 be a far better to buy or are we likely to see less cars produced therefore less supply and more demand ?

Essentially , if buying a new car is now a good time or should I give it a few months ?

bazz26 · 10-08-2020 2:32pm

Prices are only going one way for new cars, they are getting more expensive. Also your trade in will depreciate every year while a new car will still be new when your buying it.

L-M · 10-08-2020 7:27pm

Some great offers there at the minute and if you can get the car you want in stock, used are making big premiums as they’re in short supply.

To shorten, if you can get exactly what you want, in stock and be on the road in the next week or two, I’ve never seen a better time to buy/sell.

Next year is complete crystal ball stuff

Tea drinker · 12-08-2020 10:48am

L-M wrote: »

Some great offers there at the minute and if you can get the car you want in stock, used are making big premiums as they’re in short supply.

To shorten, if you can get exactly what you want, in stock and be on the road in the next week or two, I’ve never seen a better time to buy/sell.

Next year is complete crystal ball stuff

Hey L-M, Which offers (I mean manufacturer offers) you think are good at the moment? Like most would have a trade in (161 Superb) to factor into the equation.
Is the 2% VAT reduction from September going to do much for buyers / sellers?

edjkdkjdhjkd · 02-09-2020 3:03pm

Looks like used car market is starting to crash, know plenty of people who have managed to negotiate 15-20% discounts on used cars over the past month.

SummerK · 02-09-2020 3:41pm

edjkdkjdhjkd wrote: »

Looks like used car market is starting to crash, know plenty of people who have managed to negotiate 15-20% discounts on used cars over the past month.

Not sure but I keep reading articles that used car prices are going up. But yours and my car trade-in value always goes down

sportsfan90 · 02-09-2020 4:28pm

I know a few people who bought 4-5 year old cars in the past month and they got the usual bit off the asking price but not noticeably more than pre-covid times.

ShadowHearth · 02-09-2020 6:18pm

I am a bit skeptical about whole crash. My friends buddy is independent dealer in Co. Cork and he can't keep his stock at all. Still getting cars in UK, but he is now trying to source some in Ireland too. Most of his lot is now filled with crappy trade ins, which most of them being flogged off to lower tier traders. The change in people buying habits too, they want good spec cars, not Paddy spec, silver fridges.
People were not spending money, because they had no money, they could not physically spend it, because nothing was open.

Don't understand me wrong, when you and me will go buy a car from some trader, he will give you lowest ball trade in offer, while crying how covid made his business unprofitable and he had to downgrade to do his shopping in Dunns now. :pac:

L-M · 02-09-2020 6:47pm

edjkdkjdhjkd wrote: »

Looks like used car market is starting to crash, know plenty of people who have managed to negotiate 15-20% discounts on used cars over the past month.

Unless the car was over priced in the first place there isn’t a person in the country getting 15-20 percent off a used car.

narodvale · 02-09-2020 8:33pm

Any benefit to buying a new car in cash at this time? No trade in, thinking Toyota
Have heard a lot of non fact based opinions about forecourts being full of new stock that wasn't sold during lock down, and end of year coming so dealers looking to negotiate, but as I said, this is milkman/postman opinions versus someone in the industry speaking from experience. Tempted to get the boat as well as UK prices on new cars seem to be more competitive at the minute based on some email inquiries

ShadowHearth · 02-09-2020 8:42pm

narodvale wrote: »

Any benefit to buying a new car in cash at this time? No trade in, thinking Toyota
Have heard a lot of non fact based opinions about forecourts being full of new stock that wasn't sold during lock down, and end of year coming so dealers looking to negotiate, but as I said, this is milkman/postman opinions versus someone in the industry speaking from experience. Tempted to get the boat as well as UK prices on new cars seem to be more competitive at the minute based on some email inquiries

Benefit or not, you should just go "**** it, whats the worst that could happen" attitude and poke a few dealers. As in all areas some dealers doing well, others not so much, and you can get lucky by being there at the right time and dealer having a right car in the yard that they need to push it out.

L-M · 02-09-2020 8:55pm

Depends on what you want, I know numerous manufacturers couldn’t produce for a few months and then over sold in July and August.

Basically, anything that you would typically get a rental car of, Renaults, Small cars like Polos etc there’ll be a load of around and deals to be had.

The nicer stuff then there’s very little around and none coming through till later in the year.

Remember, sales are down 30 percent because the rental market collapsed and we missed 12 weeks of sales, Actual retail sales to Joe Public are the same if not up.

ShadowHearth · 02-09-2020 11:09pm

L-M wrote: »

Depends on what you want, I know numerous manufacturers couldn’t produce for a few months and then over sold in July and August.

Basically, anything that you would typically get a rental car of, Renaults, Small cars like Polos etc there’ll be a load of around and deals to be had.

The nicer stuff then there’s very little around and none coming through till later in the year.

Remember, sales are down 30 percent because the rental market collapsed and we missed 12 weeks of sales, Actual retail sales to Joe Public are the same if not up.

This is true though, if you are in the market for fridge, aka 4 wheels, and a shell, then you are in a sweet spot. As rental market shat itself during covid and even biggest rental companies have issues to offloading their current stock. So new stock is on hold. You could get a really good deal on a fridge.

Buying during the Covid19 pandemic

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