Post Reply  
 
 
Thread Tools Search this Thread
15-03-2020, 12:51   #1
Del2005
Registered User
 
Join Date: Jan 2005
Posts: 16,818
Buying during the Covid19 pandemic

What's people's opinion on buying now? You'll be outdoors can stay 2m away when viewing and wear gloves for touching surfaces. We haven't been placed in lock down, yet, and as a lot of threads are saying businesses are starting to struggle with no customers. Obviously if we go into lock down then it's a non issue but would people buy now or wait?

Reason I'm asking is that I've a project planned and the vehicle I'm looking for come up rarely and usually sell fast, a few have just come up for sale.
Del2005 is offline  
Advertisement
15-03-2020, 13:14   #2
Idbatterim
Registered User
 
Idbatterim's Avatar
 
Join Date: Mar 2004
Posts: 17,387
in terms of the transaction and the risk of contracting the virus , I would have no concerns. parting with thousands on a car right now, different kettle of fish
Idbatterim is offline  
16-03-2020, 14:06   #3
ShadowHearth
Registered User
 
ShadowHearth's Avatar
 
Join Date: Jun 2008
Posts: 22,571
Quote:
Originally Posted by Idbatterim View Post
in terms of the transaction and the risk of contracting the virus , I would have no concerns. parting with thousands on a car right now, different kettle of fish
Same. I was all about getting new car now, but no way that's happening. Our hotel shut down and I had holiday planned too. Now I don't know if I will even get payed for next two weeks...
At least I was smart enough to put away money for PCP balloon. I can already fully pay it off, but my PCP ends in June. So I'll wait.
So yeah, no way I am buying anything now.
My buddy is good buddies with an independent dealer and he said business just completely stopped. Nothing sold and not even phone calls.
ShadowHearth is offline  
16-03-2020, 14:24   #4
Marcusm
Registered User
 
Join Date: Nov 2010
Posts: 8,930
Quote:
Originally Posted by ShadowHearth View Post
Same. I was all about getting new car now, but no way that's happening. Our hotel shut down and I had holiday planned too. Now I don't know if I will even get payed for next two weeks...
At least I was smart enough to put away money for PCP balloon. I can already fully pay it off, but my PCP ends in June. So I'll wait.
So yeah, no way I am buying anything now.
My buddy is good buddies with an independent dealer and he said business just completely stopped. Nothing sold and not even phone calls.
I would be surprised if they are not willing to extend the balloon by 6 months as many banks have been encouraged to be flexible. You work in hospitality (chef?) meaning that you are (I’m sorry to say) on the frontline for reduced work for 6 months or more. I would get forebearance from the bank on the balloon as you’ll want to have as much spare cash as possible in case the industry has a lengthy slowdown.
Marcusm is offline  
17-03-2020, 01:44   #5
road_high
Registered User
 
Join Date: Apr 2006
Posts: 16,058
I’d say business has collapsed. Unless you really needed a car then I’d be in no rush. Dealers will be desperate to sell stock in a few months. My own ma was looking but we’ll be hanging on now as her own car is going fine and recent NCT done. Cash will be king
road_high is offline  
(3) thanks from:
Advertisement
20-03-2020, 06:29   #6
breakfast roll
Registered User
 
Join Date: Sep 2009
Posts: 331
Do you think prices will go down much? I'm on the lookout for a new car but thinking maybe I should wait for a price drop.
breakfast roll is offline  
20-03-2020, 13:32   #7
Idbatterim
Registered User
 
Idbatterim's Avatar
 
Join Date: Mar 2004
Posts: 17,387
Quote:
Originally Posted by breakfast roll View Post
Do you think prices will go down much? I'm on the lookout for a new car but thinking maybe I should wait for a price drop.
oh yeah! people will be cancelling orders etc, they will be desperate to stay open. Will probably come to a point, where they will accept near no profit on the car, just for cash flow...
Idbatterim is offline  
20-03-2020, 23:20   #8
Whocare
Registered User
 
Whocare's Avatar
 
Join Date: Sep 2017
Posts: 580
In current climate

Is there anyone actually buying a new car /secondhand car(over €5000)in current climate?
Whocare is offline  
Thanks from:
21-03-2020, 00:38   #9
Polo_Cluvie
Registered User
 
Join Date: Aug 2013
Posts: 382
I hope to be trading from 2012 passat to 2014 if that counts
Polo_Cluvie is offline  
Advertisement
21-03-2020, 07:43   #10
 
Join Date: Sep 2017
Posts: 2,719
If your job is stable and you are sure of this, then this could be a great time to buy one of the thousands of UK imports currently here at UK cost price plus vrt obviously. Dealers are heavily indebted to finance companies as every car is nearly secured by short term finance which they then clear as car is sold. They will want as much as possible off their books.
My job is pretty stable as in I will be the last to leave before the directors if we have to close (which is unlikely) as I am Co ordinating the coronavirus business strategy trying to save jobs but no way am I going to rock up in work with a new car now while others are losing their jobs.
3 weeks ago I was about to pull the trigger on a 2018 msport 530e but not now, its out of my mind now for 6 months or a year. When I turn my attention back to it then I'm expecting to see a massive drop off in values.
Heres Johnny is offline  
21-03-2020, 12:11   #11
whippet
Registered User
 
Join Date: Feb 2005
Posts: 6,395
I’m living in hope that BMW will manage to delivery my new motor in the next few weeks !
whippet is offline  
21-03-2020, 13:18   #12
freddieot
Registered User
 
Join Date: Feb 2007
Posts: 709
Won't there be a bigger demand for cars - who wants to be on a bus when you can self-isolate in your car....
freddieot is offline  
21-03-2020, 19:48   #13
mickdw
Registered User
 
Join Date: Dec 2007
Posts: 20,457
Quote:
Originally Posted by freddieot View Post
Won't there be a bigger demand for cars - who wants to be on a bus when you can self-isolate in your car....
Or at home when there is no work or anywhere to go to.
mickdw is offline  
(2) thanks from:
21-03-2020, 19:56   #14
Eoinbmw
Registered User
 
Eoinbmw's Avatar
 
Join Date: Jul 2015
Posts: 579
Im in the market but holding off now and see what the market does im hoping to save a few grand when this settles down a bit!
Eoinbmw is offline  
22-03-2020, 08:45   #15
sportsfan90
Registered User
 
Join Date: Mar 2010
Posts: 370
I just starting looking to buy something maybe 3-5 years old from a garage. How do people see the second-hand car market going?

At first I thought the next month or two would be a great time to buy, with so many people unfortunately losing their jobs and therefore less people looking to upgrade then I might be able to pick up a bargain.

Then I thought that there might be less of a selection to choose from. When buying a car 3-5 years old, it's likely that the previous owner will upgrading to a new car. But with all that's happening many people will probably stick with what they have until the uncertainty is over and now there will be less of a selection of trade-ins to chose from as a result.

How do people here reckon it'll play out in the coming weeks, will garages be dropping prices desperate to get some cashflow in, or will the second-hand car industry tank as a result of all this?

I feel bad hoping to get a bargain as a result of all this but my old Ford has done its time and I need an upgrade.
sportsfan90 is offline  
Post Reply

Quick Reply
Message:
Remove Text Formatting
Bold
Italic
Underline

Insert Image
Wrap [QUOTE] tags around selected text
 
Decrease Size
Increase Size
Please sign up or log in to join the discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Share Tweet