# What's the car market like now?



## Kerr (Mar 27, 2012)

Anyone in the process of buying or looking to buy? 

I was fully expecting a slump in demand and prices to reflect that. However, I'm seeing a few people saying the opposite.

Are you finding deals are stronger than normal?


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## srhutch (Aug 2, 2009)

I've just bought a used 2016 BMW F11. Dealer reckons had it been a week later when he bought it from auction it would have been another £1K on top.


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## kingswood (Jun 23, 2016)

Still to early to tell. People are still on furlough and living on the never never. 

Be closer or xmas when the private deals are to be had 


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## Derekh929 (Aug 28, 2011)

This has been discussed heavily on another site I’m on, dealers know loads factories being closed for a while and new builds going to slowly re started so to let dealer clear stock.
There has been the idd bargin, but as said until furlough stops and we see the real position of the job market then we may be some better deals in 4 th Quarter.
Also any scrappage scheme launched by government if not electric only may allow dealers to have to discount less.
The general conscious on the other site was dealers can’t be bothered at present to make the deal and holding out, but they all think deals will come later in 4th quarter


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## AndyA4TDI (May 7, 2012)

No, I have a 7 year old MK7 GT diesel, will keep it until it starts costing more than normal services/wear and tear.

I will always keep it looking nice but far more important things to spend money on/save. 

:thumb:


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## andy665 (Nov 1, 2005)

Think it depends very much on what you are looking at buying.

A good indicator for the new car market is current lease deals and they are all looking pretty poor at the moment which is an indicator of the expectation of a relatively strong market and / or lack of supply of new vehicles 

I know the TVR specialists are virtually out of stock, all are advertising for stock. Massive surge in demand with the feedback being that people are saying "what the hell, no interest being earned, you don't know whats round the corner, lets enjoy life" - kind of makes sense


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## Kerr (Mar 27, 2012)

Some people have been pointing towards The Collecting Cars auctions for a gauge of prices. 

It's like the old eBay effect going on there just now. People are getting carried away to win the auction and paying over the odds. A few of the cars were entered by dealers and sold for more than what they had it advertised for and couldn't sell it.


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## leeandfay (May 2, 2017)

I work in the motor trade (BMW/Mini/Kia and others) and it is not a buyers market. 

We have had so many people coming in thinking they can offer 60K for a 100K car and you have to sell this because of COVID19 etc etc .

So far the dealerships I work with are busy (ish) and not letting stuff go stupidly like a lot of buyers think they are.
Supply is an issue so the prices are holding. Some build times aren't even confirmed yet so the used department are lapping it up.


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## c87reed (Dec 9, 2015)

I’m on a few car and motorcycle forums and things don’t seem to have slowed, people still seem to be going ahead with purchases. My impression of these transactions is that the values haven’t really changed. At the moment a lot still have money in their pockets from one way or another. Once the furlough payments dry up things will change.


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## Pembroke_Boy (Aug 24, 2017)

Been searching for a Golf GTi for several months, wanting a very specific spec. Tried to buy 2 or 3 in the past 2 weeks, always missing out as dealers saying demand is really high since post-lockdown easing. Maybe dealers talking bull, but I found one just a few days ago, went to look and test drive, and there were plenty of people buying. As others have said, I thought being a cash buyer I could name my price, but not what I experienced. Again as others have said, if you can wait it out a few more months, there’ll be some stronger discounts towards Xmas I think. 

P.s. I bought the GTi :thumb:


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## TakDetails (Apr 25, 2020)

I think PCP because it can be really affordable for some people, even around this time.

Had a few emails from my dealership promoting a June used car event with a 3 month holiday including 2 years free servicing... I suppose this can be appealing for buyers.


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## Summit Detailing (Oct 9, 2006)

I would say the used market is buoyant currently.

I prepare the cars for a prestige used car company and they sold more cars last month than in any previous May's.

The issue is dealers are struggling to buy used stock, I also buy cars through BCA auctions and in the last 4 weeks the prices have sky rocketed and people are paying way over the odds for cars, or at least relative to their CAP values.

As an example last week a F-type S convertible which booked at CAP clean £20250 went for £27400 + fees which is nigh on the retail price for the car.

The same is evident in the lower price brackets, sub £5k car's making £1k more than their CAP values.

Cheers,

Chris


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## kingswood (Jun 23, 2016)

TakDetails said:


> I think PCP can it really affordable for some people, even around this time.
> 
> Had a few emails from my dealership promoting a June used car event with a 3 month holiday including 2 years free servicing... I suppose this can be appealing for buyers.
> 
> Sent from my iPhone using Tapatalk


see how the PCP market is post furlough.

PCP cars are a libility on your personal balance sheet


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## sevenfourate (Mar 23, 2013)

I can’t actually buy an £8k or so used MX5 for love nor money right now. Suns out and sales seem crazy. If anything half tidy appears - if you so much as take 10 minutes to think about it - it’s sold. One specialist in Maidstone told me he sold 13 last week and is at least 15 cars down stock wise as he can’t buy them fast enough......


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## packard (Jun 8, 2009)

I was looking prior to COVID to replace my existing main car, list prices seem exactly the same as before (aware always a deal to be had). But now as I haven’t even used 1/4 tank of fuel since start of this you start to think it’s just a lump of (shiny) metal?.


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## TakDetails (Apr 25, 2020)

kingswood said:


> see how the PCP market is post furlough.
> 
> PCP cars are a libility on your personal balance sheet


I don't see it changing much to be fair.
It seems people are still buying.
But can dealerships keep demand if the worst was to happen?

I expect the same from the housing market.. even though it's still early to tell. I assume a lot of people expected bargains. From what I'm seeing even new builds have retained their prices (there or thereabouts) 
I could be looking at it all wrong though.

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## SteveTDCi (Feb 8, 2006)

I tried asking for a walk around video of a used merc (sub 7k) thats been on Autotrader for 22 weeks, they must be doing very well as despite two separate enquiries they still haven't sent me the video.


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## Pembroke_Boy (Aug 24, 2017)

SteveTDCi said:


> I tried asking for a walk around video of a used merc (sub 7k) thats been on Autotrader for 22 weeks, they must be doing very well as despite two separate enquiries they still haven't sent me the video.


I think that even though lots of dealers are open, the ones I've spoken to say they still have sales people out on furlough. Could be down to that + crazy demand?


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## SteveTDCi (Feb 8, 2006)

Pembroke_Boy said:


> I think that even though lots of dealers are open, the ones I've spoken to say they still have sales people out on furlough. Could be down to that + crazy demand?


Its a small dealer with what looks like less than 10-15 cars so I would guess 1-2 staff. It shouldn't be too difficult for them.


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## c87reed (Dec 9, 2015)

TakDetails said:


> I expect the same from the housing market.. even though it's still early to tell. I assume a lot of people expected bargains. From what I'm seeing even new builds have retained their prices (there or thereabouts)
> I could be looking at it all wrong though.


House a few doors down from us went on the market a few weeks ago (3 year old house). It is a nicely presented house and was advertised for a figure I would have expected pre-Covid. It sold in under a week; maybe they took a low offer, but I doubt it.


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## andy665 (Nov 1, 2005)

Read an article last week where a group of economists had been looking at the economic impact of covid-19 and whilst it was full of "ifs" and "maybes" it made sense.

If everyone holds their nerve (individuals and businesses) then as the economies of all major markets sank roughly the same amount at roughly the same time then there is reason to believe that they could all recover very quickly. However some areas of business are likely to need to adapt and will shrink, principally aviation and parts of the hospitality sector that cater for business travel / events.

We always holiday in the UK and I normally book 12 months in advance, I booked for Aug 2021 last week and the company I use said demand for next year is crazy and that the lodges they manage are now fully booked for the remainder of 2020 from 4 July in England 

Bentley had a record May order take and they believe that 2020 orders will be at least the same level as 2019

Most car plants shut down very early and this has meant stocks were not built up, thats what is currently keeping prices of new stable, as production ramps up it will all be down to managing the balance between supply and demand


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## Stoner (Jun 25, 2010)

We are moving house and looking for a new car. Both have held their values well and people are refusing to take offers. I agree with the other posters that prices are very firm at the moment and there are very few deals to be had. Perhaps in a few months when restrictions are lifted, we will see a change...?


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## angel1449 (Apr 15, 2012)

im off to buy a white aero saab convertible today TTID engine in white (car not engine) ... been after a white one for quite a long time with xenons etc and this has come up at a very reasonable price possibly due to the current situation


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## percymon (Jun 27, 2007)

I'd hang on another month or so as a buyer..

1. economic impact on companies will be to either extend existing lease contracts, or reduce the volume of company cars needed as they cut back on employees
2. the intake of part ex's in March (20 reg plate rush !) is still workign its way onto/out of forecourts / auction houses
3. personal buyers aren't exactly flocking back to showrooms, not that i've seen anyway
4. car factory output is expected to at least 40% down the rest of thsi year and not recovering much in early half of 2021. Less cars available, but only because they don't expect the same level of sales. They will need incentives to get joe public back on the new car trail.

There is always a deal to be done , just a case of haggling/travelling further or waiting for the right time.


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## RS3 (Mar 5, 2018)

This might be the if, buts and maybe's articles
https://cardealermagazine.co.uk/pub...ve-values-2020-2021-recovery-wont-2022/196251


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## Nick-ST (Mar 4, 2013)

I have been trying to find myself a car to replace my Golf GTI recently. Every dealer I spoke to or ever private sale person I spoke to has been inundated with calls and messages. It may well be a small surge/spike to begin with but I am shocked at how busy dealerships have been. 

Although one thing I am getting sick of hearing and this doesn't just apply to the motor industry is how busy everyone is yet they all seem to have staff off on furlough. Government needs to get companies paying from July not August! It is disgraceful that staff are being overworked when there are people desperate to get back to work and help their colleagues!


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## Darlofan (Nov 24, 2010)

Nick-ST said:


> I have been trying to find myself a car to replace my Golf GTI recently. Every dealer I spoke to or ever private sale person I spoke to has been inundated with calls and messages. It may well be a small surge/spike to begin with but I am shocked at how busy dealerships have been.
> 
> Although one thing I am getting sick of hearing and this doesn't just apply to the motor industry is how busy everyone is yet they all seem to have staff off on furlough. Government needs to get companies paying from July not August! It is disgraceful that staff are being overworked when there are people desperate to get back to work and help their colleagues!


Initial spike as you say, bit like shops, tips, takeaways etc reopening. There's a surge then the lull. Car market will be the same, few months they'll be quieter again.

As you say companies are taking the proverbial with furlough. I only have to go next door to find 1 working from home doing work of all her colleagues while they're furloughed and her husband back in work doing all the hours god sends while 2/3rds are still on furlough.


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## c87reed (Dec 9, 2015)

Darlofan said:


> As you say companies are taking the proverbial with furlough. I only have to go next door to find 1 working from home doing work of all her colleagues while they're furloughed and her husband back in work doing all the hours god sends while 2/3rds are still on furlough.


My next door neighbour is the same, he normally has a team of 5. He is somehow involved in the sales of gas/oil. All of his team are furloughed and he's at home covering the work.

No doubt some companies will be thinking, hmm, we've managed with half the number for staff for however long... maybe we should continue doing that.


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## TakDetails (Apr 25, 2020)

c87reed said:


> My next door neighbour is the same, he normally has a team of 5. He is somehow involved in the sales of gas/oil. All of his team are furloughed and he's at home covering the work.
> 
> No doubt some companies will be thinking, hmm, we've managed with half the number for staff for however long... maybe we should continue doing that.


This is bang on.
It's happening to my company.
There's mentions of laying off people who are "less skilled" & keeping multi skilled employees on and recruiting for less skilled jobs on a contract when they are needed

"It's not personal it's business" was my managers words.

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## kingswood (Jun 23, 2016)

sevenfourate said:


> I can't actually buy an £8k or so used MX5 for love nor money right now. Suns out and sales seem crazy. If anything half tidy appears - if you so much as take 10 minutes to think about it - it's sold. One specialist in Maidstone told me he sold 13 last week and is at least 15 cars down stock wise as he can't buy them fast enough......


Mates trading in a mint 65 plate he'll take £9.5k if u can get to hull before weds. He's chopping it in against a slc merc

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## Walesy. (Oct 1, 2009)

Just to re-ignite this, what's everyone's thoughts on the market now?

I am looking to possibly buy, seen a car I like but don't know if it is worth hanging off for a better deal on it, until January etc. It would be my luck, I will pay for it and the market will crash, thus paying too much LOL

Just wondering if there is any thoughts on the market at present?


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## percymon (Jun 27, 2007)

year and plate changes always knock a cars value. Winter months are generally slow, not many punters want to the trudging through forecourts on cold wet days (although a lot more are sold unseen via websites these days)

used values have been strong in the last few months..
- people's caution using public transport has pushed many back into their cars for the commute
- people holding onto their current cars for a little longer has reduced the flow of used cars into the market
- ditto slow sales/availability of new cars through lockdown - backlog of orders to fulfill, late deliveries etc
- the way the economy is currently i expect PCP deals on new cars to not be as low as theyve been in the last 3-5 years, again meaning people looking for used cars as replacements once lease deals end

The vaccine roll out will, in time, ease the fears and capacity restraints of public transport, but i expect it'll be 4-6 months before public transport providers are allowed to utilise more of the available seating.


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## petemattw (Nov 3, 2008)

I bought a new X5 is September. Told him the price I would pay, was ready to pay cash there and then and as a result got almost £20k off the price. Lower end cars seem to be going up in price but high end aren’t sellling as people who usually finance can5 afford or don’t want to risk it so if you have the money, try being cheeky! Problem I haD was waiting for it to be built and delivered...


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## cole_scirocco (Mar 5, 2012)

I work in used car sales for Vauxhall, plus some other brands we sell and the used car market here is absolutely booming. New Cars is still doing pretty strong so I'd say right now is a great time to buy if you can afford it.


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## SteveW (Feb 21, 2006)

I had no choice to buy a car back in June of this year when my old car died in a cloud of smoke (holes in two pistons!) so was beyond economical repair.

I bought a 2016 Seat Leon Fr 184 ST. The dealer wouldn't budge on price, not even a penny! The best he could offer was a 2-year warranty for the price of one. I still bought it, it was a competitive price anyway looking at the others on Autotrader at the time.

I was the worst type of customer for them though, no part-ex, cash buyer so didn't need finance. He said back in June that they were struggling to find stock and also the fact that they've been holding on to the stock they'd had for months at that point that they really couldn't justify losing any more profit.

Probably bull**** - but I wanted the car anyway so bought it :lol:


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## SarahAnn (Apr 6, 2011)

I've sold two cars recently to dealers and I think that they are being greedy with the price they are trying to sell on for. 

Sold my 2019 C43 estate 6k miles in September after nearly a year of owning it and they put it up for sale for more than I paid a year ago. I paid £38500. They have now reduced it to a more realistic price of £36800, still not sold. 

I bought a bmw x2 in September 69 reg with 10 miles on from Cooper bmw for just under £24k. They had a few, same model, mileage and price. Sold it in the middle of November to a dealer as I've gone back to an estate.
The dealer put my x2 on for £25,500 with 1052 miles and 2 owners (pre reg +me) when coopers still have them with 10 miles, 1 owner (pre reg) for under £24k. It's still for sale. 
Some dealers I think are being greedy but they haven't sold.

When I bought the A4 avant in November, the same dealer I bought from but different area was trying to rush me into buying his avant and I must be quick as he had 5 enquiries on it. I chose the one closer to home and his that was in great demand is still for sale.


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## andy665 (Nov 1, 2005)

Walesy. said:


> Just to re-ignite this, what's everyone's thoughts on the market now?
> 
> I am looking to possibly buy, seen a car I like but don't know if it is worth hanging off for a better deal on it, until January etc. It would be my luck, I will pay for it and the market will crash, thus paying too much LOL
> 
> Just wondering if there is any thoughts on the market at present?


If its used then the month will probably make no difference, in fact with a no deal Brexit looking more likely and tariffs on imported new cars looming then this will likely keep used prices high

If new then obviously end of Q4 and targets need to be hit, no such thing as end of the month now for new car deals, its all done on a Qtr basis with every manufacturer

New car market has seen demand fall heavily but production capacity fall even more so net effect is that there is more demand than supply, albeit at a lower level


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## Walesy. (Oct 1, 2009)

Thanks for your input all!

The car I am looking at is a newer 5 series than mine, so circa £40k and 105 miles. But its a jun 2020 registered car. I have a strong trade with my current 5 series, and the balance will be cash...so I may have a wee word with them to see what they say trade in wise etc.


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## Kerr (Mar 27, 2012)

I've been keeping my eye open. In one sense my current car has gone up in value using the classifieds for reference, but the cars I'm interested in have gone up a bit more. 

I really don't have the confidence to spend lots of money just now.


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## Rappy (Oct 2, 2020)

Kerr said:


> I've been keeping my eye open. In one sense my current car has gone up in value using the classifieds for reference, but the cars I'm interested in have gone up a bit more.
> 
> I really don't have the confidence to spend lots of money just now.


In 2021, I will be looking for a hyperhatch  sold my 2018 RS3 pre COVID. It was a garage queen. I actually sold it for more than I purchased it for 6 mths earlier.

Had numerous RS & S Audis & various M cars, AMGs etc.. over the years.

Maybe I should leave the money in the bank a bit longer mmmmm.

This thread has got me thinking!


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## SteveTDCi (Feb 8, 2006)

If you can hold on for a year then things may change, but at the moment everything is selling for asking price and most sell quickly.


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## Walesy. (Oct 1, 2009)

SteveTDCi said:


> If you can hold on for a year then things may change, but at the moment everything is selling for asking price and most sell quickly.


I think I am going to hang off until May - June buddy and revisit the situation, I don't expect my car (2017 5 series m sport) to lose alot in that period of time unless something drastic happens, if it does I will trade the X1.


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## SarahAnn (Apr 6, 2011)

When I changed cars again in the middle of November, I watched the cars I was interested in on the cargurus website. I'm still getting email alerts of price reductions. They aren't all selling like hot cakes and there are still sensibly priced cars around, I think. 
I bought a 4 month old a4 avant that was £39800 new for £26500


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## Walesy. (Oct 1, 2009)

SarahAnn said:


> When I changed cars again in the middle of November, I watched the cars I was interested in on the cargurus website. I'm still getting email alerts of price reductions. They aren't all selling like hot cakes and there are still sensibly priced cars around, I think.
> I bought a 4 month old a4 avant that was £39800 new for £26500


Yeah I am going to do that, good tip actually.

I am in also 2 minds to hold off, the LCI model of the 5 is out now, again I am not sure if I am overly fond of the new design...it maybe a case of it needs to grow on me. So I think I need to take the foot of the gas and just bide my time


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## Dipesh (Oct 12, 2007)

I’m in the trade, prices are sky high and have been for a good while. 

You can forget dealers buying anywhere near book if it’s desirable. 

If you like the car and spec, as well as the price, snap it up! 


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## eddie bullit (Nov 23, 2007)

c87reed said:


> House a few doors down from us went on the market a few weeks ago (3 year old house). It is a nicely presented house and was advertised for a figure I would have expected pre-Covid. It sold in under a week; maybe they took a low offer, but I doubt it.


No stamp duty is helping properties sell quick


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## Darlofan (Nov 24, 2010)

Prices seem up at the moment, I've been browsing for a while now. Got a part ex figure for mine earlier. £787:lol:
Insignia Estate 2011 does have 163k on it. So that pretty much made up my mind to just run it until it stops.


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## 20vKarlos (Aug 8, 2009)

I’ve had a non desirable car for sale for a while now, it’s not getting a price drop as it’s worth the money all day long, it just costs an arm and a leg to advertise these days


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