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Buying during the Covid19 pandemic

245678

Comments

  • #52
    the culture of deference
    Banned (with Prison Access) Posts: 2,196 ✭✭✭the culture of deference


    Let's face we are not going into lockdown for 2 weeks. This is going to be months if not longer.

    In difficult times like this spending is cut back drastically. Nobody is going to buy a car when jobs are being cut and when their stocks / savings are being wiped out.

    The demand for car loans will also collapse, as will those on PCP who can barely afford their monthly payments start to default which will affect subprime loans and other banking swap.

    Most dealerships have large long term debt and nothing in cash.

    Dealers inventory will be near impossible to move during these tough times.

    With the demand for debt skyrocketing currently and with equity markets plummeting, it's hard to see how they will be able to refinance and this means there has to be a high chance of bankruptcy within the next few months.


  • #53
    TheW1zard
    Registered Users, Registered Users 2 Posts: 1,345 ✭✭✭TheW1zard


    Lots of cars sitting for months. And who would buy a car at the moment?


  • #54
    s8n
    Registered Users, Registered Users 2 Posts: 3,842 ✭✭✭s8n


    natural levelling of the market ?
    a lot of cars are overpriced


  • #55
    Jizique
    Registered Users, Registered Users 2 Posts: 1,947 ✭✭✭Jizique


    s8n wrote: »
    natural levelling of the market ?
    a lot of cars are overpriced

    Is this the time that online sales and the direct distribution model (a la Tesla) will come into its own?
    What is to stop the companies selling “direct” without the network?


  • #56
    SixtaWalthers
    Registered Users, Registered Users 2 Posts: 249 ✭✭SixtaWalthers


    Ready for the worst and hope for the best. Dealerships should try to engage themselves into relevant businesses. Need to spread hope.


  • #57
    chillyspoon
    Registered Users, Registered Users 2 Posts: 549 ✭✭✭chillyspoon


    Jizique wrote: »
    Is this the time that online sales and the direct distribution model (a la Tesla) will come into its own?
    What is to stop the companies selling “direct” without the network?

    I'm car-less due simply to unfortunate timing, and I was pondering that same or similar question yesterday; how many dealers - particularly in the used car market - will be taking the opportunity to try this out when they get the inevitable call:

    "I see car X on your listings on Carzone at price Y. I'd be willing to pay Z to purchase it unseen, providing you can deliver it direct to me, with a new service stamp in the book and a renewed NCT."

    I think it's a niche that will rapidly emerge and could potentially stick afterwards when people get their heads around it.


  • #58
    Leonard Hofstadter
    Registered Users, Registered Users 2 Posts: 5,541 ✭✭✭Leonard Hofstadter


    An eight year old Passat with 190k miles (over 300,000 km) was never worth €6350 even before Covid-19 happened, especially an Estate...


  • #59
    i57dwun4yb1pt8
    Closed Accounts Posts: 2,655 ✭✭✭i57dwun4yb1pt8


    i suppose it will be pointless to trade in a 5 year old skoda hatch for a 2 year old honda or audi or some such then ?


  • #60
    Polo_Cluvie
    Registered Users Posts: 438 ✭✭Polo_Cluvie


    Leonard Hofstadter wrote: »
    An eight year old Passat with 190k miles (over 300,000 km) was never worth €6350 even before Covid-19 happened, especially an Estate...
    190kilometres 117miles take your time to read my post


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  • #61
    Charles Babbage
    Registered Users, Registered Users 2 Posts: 5,897 ✭✭✭Charles Babbage


    chillyspoon wrote: »
    I'm car-less due simply to unfortunate timing, and I was pondering that same or similar question yesterday; how many dealers - particularly in the used car market - will be taking the opportunity to try this out when they get the inevitable call:

    "I see car X on your listings on Carzone at price Y. I'd be willing to pay Z to purchase it unseen, providing you can deliver it direct to me, with a new service stamp in the book and a renewed NCT."

    I think it's a niche that will rapidly emerge and could potentially stick afterwards when people get their heads around it.


    It will, when a renewed NCT becomes possible.


  • #62
    mickdw
    Registered Users, Registered Users 2 Posts: 23,462 ✭✭✭✭mickdw


    chillyspoon wrote: »
    I'm car-less due simply to unfortunate timing, and I was pondering that same or similar question yesterday; how many dealers - particularly in the used car market - will be taking the opportunity to try this out when they get the inevitable call:

    "I see car X on your listings on Carzone at price Y. I'd be willing to pay Z to purchase it unseen, providing you can deliver it direct to me, with a new service stamp in the book and a renewed NCT."

    I think it's a niche that will rapidly emerge and could potentially stick afterwards when people get their heads around it.
    Maybe direct deliveries of new cars or nearly new from franchised dealers but anything else is nuts.
    A service stamp and an nct is no guarantee of a car not being a disaster zone.


  • #63
    ShadowHearth
    Registered Users, Registered Users 2 Posts: 22,929 ✭✭✭✭ShadowHearth


    It's all nice and good buying car, but where would you go? Local overcrowded Tesco to get it scratched and rammed by trolleys.

    I'll wait.


  • #64
    yop
    Moderators, Home & Garden Moderators, Regional Midwest Moderators, Regional West Moderators Posts: 16,724 Mod ✭✭✭✭yop


    See a few demos sitting in garages now for a chunk of weeks, now a good time to bargain the prices?
    Been tracking 2-3 and the prices in the last 6 weeks have not changed which isn't much of a surprise.

    At what stage does a dealer start to get itchy feet to shift cars, piece of string question I know!


  • #65
    Kivaro
    Closed Accounts Posts: 4,105 ✭✭✭Kivaro


    yop wrote: »
    See a few demos sitting in garages now for a chunk of weeks, now a good time to bargain the prices?
    Been tracking 2-3 and the prices in the last 6 weeks have not changed which isn't much of a surprise.

    At what stage does a dealer start to get itchy feet to shift cars, piece of string question I know!
    Wonder what kind of discount should one expect if this happens?


  • #66
    SummerK
    Registered Users Posts: 387 ✭✭SummerK


    Have been planning to switch from manual to an automatic car since last 2 months. Spoke to a dealer couple of weeks ago who has got a 181 Fiesta. He offered quite a bit less (over 2k) for my car and seems not interested in selling fiesta as he has never followed up.

    Read UK news report that used car prices might increase due to Halt in manufacturing of new cars but not sure people would like to pay more for used car considering job losses, pay cuts etc.


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  • #67
    AMKC
    Registered Users, Registered Users 2 Posts: 16,297 ✭✭✭✭AMKC
    Ms


    SummerK wrote: »
    Have been planning to switch from manual to an automatic car since last 2 months. Spoke to a dealer couple of weeks ago who has got a 181 Fiesta. He offered quite a bit less (over 2k) for my car and seems not interested in selling fiesta as he has never followed up.

    Read UK news report that used car prices might increase due to Halt in manufacturing of new cars but not sure people would like to pay more for used car considering job losses, pay cuts etc.

    Seems like its a catch 21 situation at the moment but eventually someone is going to have to give. I would say dealerships will hold out as long as they can but they will have to shift what they have eventually and maybe at a loss too as there will be less people to buy the cars and they might not be as willing to spend as much as they were before all this.

    Live long and Prosper

    Peace and long life.



  • #68
    who_ru
    Registered Users, Registered Users 2 Posts: 2,033 ✭✭✭who_ru


    there will be some sort of scrappage scheme don't you know.


  • #69
    bazz26
    Registered Users, Registered Users 2 Posts: 51,289 ✭✭✭✭bazz26


    Scrappage schemes will make feck all difference to people not buying who are uncertain of their employment prospects as a result of a downturn in the economy.


  • #70
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,202 ✭✭✭✭Cyrus


    Folks i have a new car ordered, it wasnt a custom build rather one that was in the country available for the dealer to secure (as seems to happen a lot nowadays)

    Whenever this lockdown is over itll be available to collect.

    What do you think the likelihood is of me being able to renegotiate the deal i did with them 4 weeks ago? The trade in on my own car accounts for circa 45% of the value of the new one, so im guessing my car is going to be worth less as well so i am not in the same position as if it was a straight sale.


  • #71
    bazz26
    Registered Users, Registered Users 2 Posts: 51,289 ✭✭✭✭bazz26


    I cannot see you negotiating a better deal to be honest especially if the deal is already done. As you said they can apply the same logic to your trade-in's value which might end up costing them money for what they already gave you before the world went to **** versus what they will have to price it at now for resale. I know nothing ventured nothing gained and all that but I think if the you might actually be doing well at the original agreed price when you have a trade in, just my 2c.


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  • #72
    scamalert
    Registered Users, Registered Users 2 Posts: 3,739 ✭✭✭scamalert


    its interesting times, as anyone selling now must be having hard time in general, nct mess, not sure how insruance will be impacted or even taxes going ahead if this drags any longer, could be plenty of people who will think hard before splitting with their money, then crap as 202 is is just couple months away will put larger strain on any new sales, might be great opportunities but at the same time with all the uncertainty many might hold off for a good while, as at the end of the day buying new or forking over 10k isnt best investment as cars go in Ireland, with rapid depreciation.


  • #73
    who_ru
    Registered Users, Registered Users 2 Posts: 2,033 ✭✭✭who_ru


    bazz26 wrote: »
    Scrappage schemes will make feck all difference to people not buying who are uncertain of their employment prospects as a result of a downturn in the economy.

    no but that doesn't mean one won't be introduced.


  • #74
    L-M
    Registered Users, Registered Users 2 Posts: 23,694 ✭✭✭✭L-M


    Cyrus wrote: »
    Folks i have a new car ordered, it wasnt a custom build rather one that was in the country available for the dealer to secure (as seems to happen a lot nowadays)

    Whenever this lockdown is over itll be available to collect.

    What do you think the likelihood is of me being able to renegotiate the deal i did with them 4 weeks ago? The trade in on my own car accounts for circa 45% of the value of the new one, so im guessing my car is going to be worth less as well so i am not in the same position as if it was a straight sale.

    Here’s my 2 cent.

    Dealer does a deal with you and your trade in. Knows that by the time your new car lands they will have sold X amount of their current stock, freeing up cash flow, and getting your car into stock to resell.

    Reality of the situation, the cars he wanted to sell are all still there because they’ve closed, business has ran dry for 2-4 weeks and now manufacturers have thrown car targets out the window for 2020 as the best part of the year to sell new and used cars is gone.

    So, you asking for a better deal could end up in you actually asking for the original deal to be honoured.


  • #75
    ShadowHearth
    Registered Users, Registered Users 2 Posts: 22,929 ✭✭✭✭ShadowHearth


    SummerK wrote: »
    Have been planning to switch from manual to an automatic car since last 2 months. Spoke to a dealer couple of weeks ago who has got a 181 Fiesta. He offered quite a bit less (over 2k) for my car and seems not interested in selling fiesta as he has never followed up.

    Read UK news report that used car prices might increase due to Halt in manufacturing of new cars but not sure people would like to pay more for used car considering job losses, pay cuts etc.

    Correction. Cars on dealers lot will increase in value, yours and mine trade in will magically lose even more value.


  • #76
    carsfan2
    Registered Users, Registered Users 2 Posts: 3,574 ✭✭✭carsfan2


    Do you think car makers/ importers will offer incentives or sweeteners to shift stock once this current crisis starts to resolve?


  • #77
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,202 ✭✭✭✭Cyrus


    L-M wrote: »
    Here’s my 2 cent.

    Dealer does a deal with you and your trade in. Knows that by the time your new car lands they will have sold X amount of their current stock, freeing up cash flow, and getting your car into stock to resell.

    Reality of the situation, the cars he wanted to sell are all still there because they’ve closed, business has ran dry for 2-4 weeks and now manufacturers have thrown car targets out the window for 2020 as the best part of the year to sell new and used cars is gone.

    So, you asking for a better deal could end up in you actually asking for the original deal to be honoured.

    potentially, there is sense in that logic.

    i suppose it comes down to whether the manufacturers will be pushing larger discounts later in the year.


  • #78
    Kivaro
    Closed Accounts Posts: 4,105 ✭✭✭Kivaro


    It's all about timing I'd say.
    There are some very knowledgeable posters on here; any estimate on when prices on new cars in dealerships may change?


  • #79
    xboxdad
    Registered Users Posts: 908 ✭✭✭xboxdad


    Hi everyone,

    I'm looking to buy a new car, but I'm having second thoughts due to the current situation...

    Paying a deposit seems risky. Disregarding the buyer's situation, dealer can still go out of business by the time the deal competes. ...or there will be tons of 0% loan offers, discounts, etc... once this all blows over.

    ..but it can also go the other way: There could be a severe shortage of new cars in the country in the mid-term.

    What do you guys think is the best approach?


  • #80
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 83,429 ✭✭✭✭Atlantic Dawn
    M


    Pay the deposit with a debit or credit card, dealer goes bust you get the money back.

    Very hard to know if wholesale price dealers get the cars for will rise or fall, I've seen lots of stories in the media of shortages of parts in the supply chain, then stories of complete collapse of car sales. Could be a shortage of built cars with factories building cars shut down, could be a glut of unsolds cars with no dealers currently open to sell them.

    My guess is in the short term prices at the forecourt will be as they were.


  • #81
    mickdw
    Registered Users, Registered Users 2 Posts: 23,462 ✭✭✭✭mickdw


    All bets are off re trade ins.
    Straight sales are where bargains will be had.


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  • #82
    L-M
    Registered Users, Registered Users 2 Posts: 23,694 ✭✭✭✭L-M


    Manufacturers are already stretched beyond belief trying to compete with the current and future emissions regulations that are coming through for ICE cars.

    All I’ve seen is cars becoming more and more expensive, margins being squeezed at every angle. In my naivety, I’m going to say I don’t think it’s greed on the manufacturers part.

    I would be very, very surprised if there’s any reduction at all in pricing, in fact, I can still see them increasing.

    It’s all relative really unless you’re buying straight. (And even at that you probably sold your used car privately to buy straight. Rare is it someone is entering the new car market being a first time buyer)

    The more expensive the new car cars, typically the more expensive used cars get, so it’s all really just a numbers game.

    If new cars drop, used will drop. It’s just not going to happen. The manufacturers won’t want it, the government won’t want it.


  • #83
    Esel
    Registered Users, Registered Users 2 Posts: 22,503 ✭✭✭✭Esel


    Atlantic Dawn wrote: »
    Pay the deposit with a debit or credit card, dealer goes bust you get the money back.
    I don't think you are protected if you pay a deposit with a debit card.

    Not your ornery onager



  • #84
    bazz26
    Registered Users, Registered Users 2 Posts: 51,289 ✭✭✭✭bazz26


    Debit cards don't have any protection in that matter as it's your own money you are authorizing payment on, the only protection you would have is that the bank won't authorize payment if there are no funds in the account to cover it or if the transaction was proven to be fraudulent. Credit cards have more protection as it's the issuing bank who is protecting itself more than actually you.


  • #85
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,757 Mod ✭✭✭✭Henry Ford III


    I'm assuming most if not all dealers aren't actually selling new cars currently.


  • #86
    Kivaro
    Closed Accounts Posts: 4,105 ✭✭✭Kivaro


    Henry Ford III wrote: »
    I'm assuming most if not all dealers aren't actually selling new cars currently.
    And with the probable extension of the current lock-down, I cannot imagine any new cars being sold in the next month .... at the very least.
    So we could be talking late May or early June when they may open again, and what happens with the 202 deliveries then?


  • #87
    lalababa
    Registered Users, Registered Users 2 Posts: 1,736 ✭✭✭lalababa


    The last thing on people's minds I know. Just wondering on your thoughts. Lots of people on reduced incomes, tourist season a bust, mini recession. Lot's of people not needing their cars. This 2 week + lock down. Are dealers open/closed ATM??
    Versus : used imports from UK have stopped ?? I'd imagine??
    Some sort of pent up demand in 3 months time?
    Nct out older cars being flogged cheap ?


  • #88
    xboxdad
    Registered Users Posts: 908 ✭✭✭xboxdad


    L-M wrote: »
    Manufacturers are already stretched beyond belief trying to compete with the current and future emissions regulations that are coming through for ICE cars.

    All I’ve seen is cars becoming more and more expensive, margins being squeezed at every angle. In my naivety, I’m going to say I don’t think it’s greed on the manufacturers part.

    I would be very, very surprised if there’s any reduction at all in pricing, in fact, I can still see them increasing.

    It’s all relative really unless you’re buying straight. (And even at that you probably sold your used car privately to buy straight. Rare is it someone is entering the new car market being a first time buyer)

    The more expensive the new car cars, typically the more expensive used cars get, so it’s all really just a numbers game.

    If new cars drop, used will drop. It’s just not going to happen. The manufacturers won’t want it, the government won’t want it.

    I'd be pretty happy with 0% APR becoming standard. It's not just a price reduction that could help buyers.
    Even much better scrappage deals could do wonders.


  • #89
    L-M
    Registered Users, Registered Users 2 Posts: 23,694 ✭✭✭✭L-M


    xboxdad wrote: »
    I'd be pretty happy with 0% APR becoming standard. It's not just a price reduction that could help buyers.
    Even much better scrappage deals could do wonders.

    Scrappage is a grand “offer” in theory.

    But who is going to have the money to come from a banger up to a new car? Very few.

    Also generally if you avail of scrappage you won’t get 0 percent.

    Same like lots of Manufacturers offer 0 percent or 3 years servicing or scrappage.

    0 percent will never be standard. A lot of franchises can’t afford to offer it because they’re getting the money off a bank. So if you’re getting 0 percent on a car manufacture that doesn’t have their own bank, you’re paying more for the car to get the 0 percent.


  • #90
    bazz26
    Registered Users, Registered Users 2 Posts: 51,289 ✭✭✭✭bazz26


    There is already a big thread discussing this >>> https://www.boards.ie/vbulletin/showthread.php?t=2058061829


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  • #91
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 83,429 ✭✭✭✭Atlantic Dawn
    M


    Esel wrote: »
    I don't think you are protected if you pay a deposit with a debit card.
    bazz26 wrote: »
    Debit cards don't have any protection in that matter as it's your own money you are authorizing payment on, the only protection you would have is that the bank won't authorize payment if there are no funds in the account to cover it or if the transaction was proven to be fraudulent. Credit cards have more protection as it's the issuing bank who is protecting itself more than actually you.


    Yes your own money will be used for the debit card but you can do a chargeback and receive the funds back as goods won't have been supplied. Credit card better option as it will be the banks money.



    https://www.ccpc.ie/consumers/shopping/disputed-card-transactions-chargeback/


  • #92
    MarkN
    Registered Users, Registered Users 2 Posts: 4,223 ✭✭✭MarkN


    I got an email yesterday about Windsor doing online sales and contactless delivery. Finance can be arranged online they say but it also states that delivery can't commence until showrooms reopen and it says that they expect older people in particular to use the service.


  • #93
    mikecope
    Registered Users Posts: 28 ✭mikecope


    I tried to contact two car dealers that are selling cars on Donedeal (message and phone) but got no response.
    Is it because they can't trade at the moment or have I just been unlucky?


  • #94
    GM228
    Registered Users, Registered Users 2 Posts: 8,922 ✭✭✭GM228


    They are all closed at the moment.


  • #95
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,757 Mod ✭✭✭✭Henry Ford III


    They are closed I'd imagine


  • #96
    mikecope
    Registered Users Posts: 28 ✭mikecope


    GM228 wrote: »
    They are all closed at the moment.
    Henry Ford III wrote: »
    They are closed I'd imagine

    That makes sense. Thanks


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  • #97
    User1998
    Registered Users, Registered Users 2 Posts: 6,987 ✭✭✭User1998


    Plenty of dealers still open


  • #98
    Heres Johnny
    Closed Accounts Posts: 2,738 ✭✭✭Heres Johnny


    User1998 wrote: »
    Plenty of dealers still open

    Which ones?


  • #99
    User1998
    Registered Users, Registered Users 2 Posts: 6,987 ✭✭✭User1998


    Wouldn’t name them but theres a few big dealers posting on Instagram that they are still open and offering delivery


  • #100
    L-M
    Registered Users, Registered Users 2 Posts: 23,694 ✭✭✭✭L-M


    mikecope wrote: »
    I tried to contact two car dealers that are selling cars on Donedeal (message and phone) but got no response.
    Is it because they can't trade at the moment or have I just been unlucky?

    Is there any mobile number you could try texting/ or an email?


  • #101
    mikecope
    Registered Users Posts: 28 ✭mikecope


    L-M wrote: »
    Is there any mobile number you could try texting/ or an email?
    I messaged both via Donedeal and I left a voicemail in one person's mobile phone voicemail box.
    If they are not open then that's not too bad because they're more than 60km away, so I couldn't visit anyway but at least now the cars can't be snapped up by someone local before the lockdown is over.


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