I'm changing jobs (great timing I know) and need to buy a used car to commute as will no longer have a work van.
In light of what's going on, I can't decide what to do.
would you?
Or purely selfishly would you wait and assume prices will crash? (could use the wife's temporarily as no school runs to do)
Or hurry and rush now as everything might get shut?
Haven't got a clue, any input from anyone who has any idea much appreciated.
If I was you I would use the wifes.
No one knows what going to happen in the next few weeks/months, but I don't think a shortage of s/h cars is going to be a problem.
I’d expect the second hand market to flourish as the economy tanks and people stop buying new cars.
Prices of second hand Honda Jazz will plummet due to a sudden oversupply.
You’ll probably start to see keener deals on vans
I expect we will see a few nice cars going cheap as people run out of money and need to sell stuff. Also a few ex HP cars for similar reasons. It is a bit mercenary but they need the money you want to give them money so no real issue (unless you are depriving a pensioner of their only way to get to the shops). That said, in your situation I'd wait, use the car you have, see what happens.
I’d expect the second hand market to flourish as the economy tanks and people stop buying new cars.
might see a lot of lease cars being surrendered though
From previous experience in another country, just wait until fuel shortages start...
We're making no unnecessary purchases for the foreseeable future.
In your shoes if I had access to a car that no one else needed I'd be using that.
Watching with interest - been planning on getting a campervan this year anyway, and with interest rates so low I might get a few £k on a loan to add to what I've saved and get one.
Though I do wonder if demand will increase with everyone holidaying in the UK now....
sprays keyboard @ perchypanther response. Though I shouldn't really.
I'm trying to gaze into the crystal ball too, and can come up with plausible scenarios where prices fall, rise or don't really change!
I'd assume cash was more useful than a car in the medium term?
If it reaches the point where garages shut then logically your office will be shut, as will petrol stations.
From previous experience in another country, just wait until fuel shortages start…
With demand plummeting that’s not likely to be a sustained problem.
In exactly the same boat, borrowing a friend's car in the short term, May buy it in a months time, will be leaving it a while before making a big purchase, I expect a lot of deals in the summer.
With demand plummeting that’s not likely to be a sustained problem.
I'd be more worried about how old the petrol in the tanks is!
Wonder if we'll see <£1/l before this blows out?
Wifes car was written off a few weeks ago. Cheque cleared yesterday. We are keeping the money in the bank for now as it may be needed for more important things. As its the 'school run' car and there is no school we see no point organizing tax/insurance for something to sit in the drive.
People online saying that WBAC are only offering about 40-60% of what they were a couple of weeks ago.
I got a quote from them for an MX5 that we were looking to sell (not compatible with new baby) in February but decided to wait until the typically increased demand in spring before selling. £2800 Feb Vs £1210 now. Oops.
I wouldn’t buy anything I didn’t have to right now. Apart from bog roll obvs...
From previous experience in another country, just wait until fuel shortages start…
Not gonna happen. we (oil refinery) are going from 5 shifts down to 3 to keep the business running and anyone who works here will get kids going to school as they are key workers.
I count as a key worker(utilities) so would have to fight my way through the toilet paper riots
In that case unimog with a cow catcher.
Toy/fun/summer cars like the MX5 above will be dumped to the market to free up cash if things are tight.
Diesel 7 seaters may go up in value as folk go from 2 cars to 1.
Or not. Who knows?
I was in a motorbike dealer this morning. They're expecting secondhand prices to start going up due to the lack of new vehicles being available.
Not sure if it'll be the same with cars though.
Diesel 7 seaters may go up in value as folk
have accidental extra kids come December!
I'd be sure you are in and staying at the new job before making a financial commitment at the moment, also, is it likely you'll be like the rest of us and working from home for a bit anyway?
I was in a motorbike dealer this morning. They’re expecting secondhand prices to start going up due to the lack of new vehicles being available.
They would say that to sell new bikes though.
I'd bet on their values going like the Mx5 above as people look to raise cash.
On the flip side they're slow to depreciate and easy to store so prices might drop and people will just find something else to sell and supply might equally dry up.
I'm more* worried about my MG. A simultaneous financial squeeze, and less old people means the market for classic cars is going to evaporate!
*relatively, I'm barely worried as have no intention of selling it but it does my "value of stuff in the house I could sell in an emergency" which it the value I use to justify big** expensive but non-depreciating*** toy purchases!
**it's a midget, so actually small
usually
*no more** footnotes I promise
**I lied, footnotes, within footnotes, within*** footnotes
***have you been counting, it's like inception
Are you buying with Cash or a loan, are you sure your new job won't go under in the next few months?
I wouldn't buy if I were you, unless your other half needs the car for other purposes.
If you do decide to buy, I was gonna sell a lovely low mileage petrol Fiesta that we don't use much now. Well under £1k.
I wouldn't unless you either have no money worries or you really need to. Our battered 145k Focus is due its MOT next week, if it fails on a lot this morning I'll probably pick up the cheapest dullwagon with a year's test that I can find. We currently 'need' a car as MrsMonkey works in planning and is still having to do site visits (yeah, I know) but I'm not sure how long that'll last. If I'm still doing 'my' job I can easily work remotely, but working in a local authority I could easily get called into something completely different.
I think you should definitely buy a second hand car now.
Specifically this one : http://nclarksouthampton.wix.com/kleemannslk
this one
Nope, don't get that at all.
I'll hopefully be selling one soon. We bought a slightly newer Smart 6 weeks ago to replace our 2001 LHD one, which we've kept temporarily. I'm currently in the process of getting it a new MoT, after which I'm hoping that somebody needing a cheap car will be keen to buy it.
Diesel 7 seaters may go up in value as folk go from 2 cars to 1.
yep that's where i'm looking. carwow quote of almost £12k off list on a basic q7 sounds attractive....until you realise that still leaves almost £45k to pay.
somebody needing a cheap car will be keen to buy it.
Can't get much bog roll in it. Will limit the market
Hmmm. 19% off a petrol pug 5008.
Other half will need her car some days, her parents are locked in for 12 weeks now, so will need shopping taking.
New job is working on wind turbines so hopefully won't be affected.
Was buying cash.
My mate's just been told he won't be working for a while so offered to pay his van finance for a couple of months if I can use it. Helps him, helps me.
Seems the best solution at the moment.
I'm at the other end of the scale and am waiting for my new car to be built and delivered. With all this going on I'd have just kept my old ST170 but never mind. According to the lease people it's still due early May but if it hasn't already been built that will no doubt change.
Hoping there will still be a market for old, hot-ish Fords when I need to sell mine.
With car factories closing I predict folk holding on to cars longer again.
Second hand prices long term will rise.
Some garages will fold.
Looking at selling my van (in classifieds -sorry!!) and downsizing to a Berlingo; was planned before this all kicked off. Probably going to go ahead, as long as dealer gives me reasonable px deal.
PX deal ??? I got £100 for my Berlingo (Partner escapade 2.0 HDI) 3 weeks ago. First dealer offered £50. 180K and a perfect runner. However I had just glued on the door handle that day for the third time with a hot glue gun and at 70mph it was deafening. The fact it was a complete loss insurance Cat N, seemed to be an issue (two years ago) and it had not been serviced by a garage for two years other than yours truly. However, every thing worked when I handed it over. Even the hot glue gun door handle.
My family now get in the new XL Berlingo (Rifter) and seem much happier due to no 15 year bike van build up of aromas. Now sadly I cannot put even that right.
If I had hindsight, I would have removed the rear bench seats (4 bolts) and made it into a proper bike van/occasional sleeper, just for giggles. However hindsight is an exact science.
My family now get in the new XL Berlingo (Rifter) and seem much happier due to no 15 year bike van build up of aromas.
I’m hoping to get an XL Berlingo 🙂
Hi Clink, having only had 4 cars in my lifetime and all driven over 100K I am hardly an expert.
I tend to drive what works for me.
It's as much fun as my 2CV, is the best thing I can say.
There are many "Oh it can do that" moments.
In reality I have bought a tinted glass over 6 foot high hearse.
I’ve been thinking about this too, I fancy a new car, but would have to part x my current one, so perhaps would work out any better, other than the fact the car I want to buy hopefully will take a greater fall than the one I’d want to sell
I'm putting the new van search on hold being self employed and having sod all guarantee I'll still be earning this time next week
We have a second baby on the way so was planning on upsizing a bit in the next month. Not sure if that's wise at the moment or when would be the best time as my job security has taken a big fall. Currently got a small 2 door hatch back which is a struggle with our 2 year old never mind when the next one comes along!
I'd be interested to know if anyone's actually managed to sell a car in the last week or so?
On the new car front I've done a few idle searches over the weekend and seen some sightly bigger discounts over that time. Which is probably down to just doing more searches and finding better deals but... End of the month is also end of the quarter and dealers trying to hit targets may go a little further to make a sale if they need to hit a target. I'll see if I get any further deals emailed to me in the next few days.
Cars like mine (2007 Fiesta) seem to be selling for about what I expected on eBay, perhaps a bit more.
However I had just glued on the door handle that day for the third time with a hot glue gun and at 70mph it was deafening.
top tip. Next time glue it back on before you set off on your journey.
Far easier to do repairs on the drive at home when the car isn't moving 🙂
Probably easier to glue the handle on round the corner after the drive to the dealer!
I was idle looking at motorbikes this morning,
£9200 list price, a few ex-demo '19 bikes at £8200.
You can now get pre-reg 69 plate bikes with 0 miles for £5800! That's a lot less than even 1-2 year old bikes with a few thousand miles on them were (and still are) for sale for!
If you've got a secure job it would seem now is the time to buy toys! Annoyingly I don't so there's no chance.
£9200 list price, a few ex-demo ’19 bikes at £8200.
You can now get pre-reg 69 plate bikes with 0 miles for £5800! That’s a lot less than even 1-2 year old bikes with a few thousand miles on them were (and still are) for sale for!
Details please! 🙂
Not everyone's taste but I've always liked the look of them.
Massively tempted to see if I could get a 0% credit card that would last long enough to ride this shitstorm out!
I’d expect the second hand market to flourish as the economy tanks and people stop buying new cars.
Prices of second hand Honda Jazz will plummet due to a sudden oversupply.
Dunno, post CV19/recession there might be a collapse in the new/leased car market but there could be correspondingly more people looking for used cars. so 2nd hand prices could briefly surge due to demand?
would I buy now? Probably not if you've got a working car and no need to transport kids to school (before September?) might be worth holding off.
If I was buying a car I'd be looking for a basic runabout an old shitbox ~10-15YO corsa or fiesta, doubtless there will be used bargains galore in coming months but cheap to run and common is what you'll need for brexpocalypse...
I was killing time on Autotrader last night, looking for the Petrol / Estate version of my car there's some huge discounts available at the moment.
My car (or rather the just released current version of it) is £42k RRP, they're always high 30s when you actually buy them. Dealers seem to be trying to under cut each other at the moment, but 6 month old versions with a few thousand miles and a couple of expensive options are £26k from Franchise Dealers. It's pretty telling when you click on the 'finance options' tab that they still show figures for £34k-£35k because that's what they were being sold for pre-lock-down.
If you were very confident in your job security and wanted a car, there's some real bargains about. The only problem with this specific car (Skoda Superb Sportline Plus 280 4x4) is that whilst they're always sub £40k in from a dealer, the RRP is £42k + options, which means £500 a year in VED.
Funny P-Jay. I've been idly toying with the idea of getting a Superb Sportline 280. Was looking at second hand but since the whole COVID-19 thing I've put those thoughts on hold. I was drastically limiting my choices by wanting one of the slightly older versions (280 vs 272) as that has the dual injectors so less chance of the head getting gummed up. Also want an estate and the Canton sound system. Also I know before I even ask that the wife will veto Dragon Green 🙂
As you say the high rate of VED on any car with options is a bit of a killer. Was looking at even older versions but not sure if I want to go that old. Having said that there is a cheapish one on Autotrader for 16k, although it's dragon green.
I like that bike and a bargain @ £5800
I was looking at Kawasaki Z900 - list price £9200 down to £7500
Problem is if I buy a new bike I'd want to ride the damn thing!
I've never seen that model of Yamaha before,I like it the styling reminds me of a XT500 from the 70's.
At that price it's competing with the bargain Enfield 650 twin.
I’ve never seen that model of Yamaha before,I like it the styling reminds me of a XT500 from the 70’s.
There's a black/gold SR 500 inspired one as well.
Most of the reviews seem to like it which makes the massive discount more surprising. I think Yamaha are dropping it in favour of the XSR range. I can see the overlap, but I dunno if they're appealing to the same people, the XCR looks like it should attract people who would buy a classic bike. The XSR is for people who cant fold themselves onto an rd350 anymore.
Funny P-Jay. I’ve been idly toying with the idea of getting a Superb Sportline 280. Was looking at second hand but since the whole COVID-19 thing I’ve put those thoughts on hold. I was drastically limiting my choices by wanting one of the slightly older versions (280 vs 272) as that has the dual injectors so less chance of the head getting gummed up. Also want an estate and the Canton sound system. Also I know before I even ask that the wife will veto Dragon Green 🙂
As you say the high rate of VED on any car with options is a bit of a killer. Was looking at even older versions but not sure if I want to go that old. Having said that there is a cheapish one on Autotrader for 16k, although it’s dragon green.
I've got the 190Tdi 4x4 DSG Hatch Sportline, I absolutely love it. It's a few months older than the April 17 Tax thing so it's only £140 a year or so. I wanted an Estate they didn't have any at the time.
I'm only a year into it and it's staying with me for at least another 2 years, but at the moment I do fancy the petrol one next time, but not if I have to spend £50 a month on VED on it. Doesn't seem to be any way around it, by the time I'm due to swap the 2017 cars will be 5 years old at least which means it's harder to get a cheap lease deal on (I'm on a car allowance) and Skoda don't seem keen to reduce the RRP even though they're ALWAYS for sale for less then £40k at dealers.
If I didn't already have one though, I'd be tempted by a Pre-April '17 280. They seem to be pretty flexible fuel wise (like my Diesel) drive them well and you get really good economy (50+ mpg with mine) or boot it and well, get less.
Traded in my Fiesta Titanium 15 plate mid January, nothing wrong with it had it since new. Got a Skoda Octavia hatch hasn't moved for the last 5 weeks, with hindsight should of kept the Fiesta. Mind the Skoda was a very good price due to the new one coming out soon. So now have a car loan something I haven't had for the last 3 years 🙁
I guess probably wouldn't of bought with me being so risk averse but hey ho.
Not even sure if you could buy a 2nd hand car from a dealer at the moment
I thought very hard about a deal on a new q7 that I got offered at the end of march, 25% off. It still meant paying £45k though so I couldn't justify it, but there are deals to be had in new at the moment.
