Where are used car prices with the MK8 launch and other worldly troubles?

[david25]

Hello, any view on where used MK7 pricing is going in 2020 the MK8 launch and other worldly troubles we have right now?

I'm work on a budget and look for a car one full evolution old, early MK7s are now in budget, sure I would normally wait for actual MK8 GTIs to arrive, however now we have another much bigger factor, so I am definitely waiting to see.

Let's try and keep this on-topic to just car pricing.

Thanks

[monkeyhanger]

Duplicate post.

[monkeyhanger]

I seriously doubt you'll get a bargain attributable to Covid-19 going around.

I think it'll stifle new car buys, especially if people are strapped for cash because they're paying more for food thanks to stockpilers and profiteering. They'll keep hold of the car they've got and save their cash. During the start of the last recession, people were keeping hold of their cash and the car they had rather than changing - net result was used prices went up due to lack of availability for used cars. Only dropping VAT to 15%, seriously reducing BoE base rate and the scrappage scheme stimulated the new car market again.

People will still want to keep a car even if they're working from home more - they'd rather be driving when they have to go somewhere than sitting on a bus/metro/train with 50 other germ incubators.

Covid-19 is probably going to cause a drop in industrial output with workers self isolating at some point - fewer new cars being made, that'll drive used prices up if anything.

If you're buying, I'd buy now before factors above kick in for used car prices.

[Watts]

Personally I would look for the right car and if you are happy with the deal, get it bought. Prices could go up or down but if they do I can't imagine the differences will be vast. Far more important is getting the best car for you. It is very easy to get drawn in to over thinking things sometimes (and I should know given the buggering about I did buying my current car ).

[david25]

I think it'll stifle new car buys, especially if people are strapped for cash because they're paying more for food thanks to stockpilers and profiteering. They'll keep hold of the car they've got and save their cash. During the start of the last recession, people were keeping hold of their cash and the car they had rather than changing - net result was used prices went up due to lack of availability for used cars. Only dropping VAT to 15%, seriously reducing BoE base rate and the scrappage scheme stimulated the new car market again.

Thanks, I wanted to check what happened in the last financial crisis of 2008. I'm happy to wait and see how things go using exactly your argument, I have something functional now, no desperate need to change.

[fredgroves]

Vauxhall’s major UK manufacturing facilities are to close until March 27 as part of a Europe-wide shutdown by owner PSA Group due to coronavirus.

Carmakers including Fiat Chrysler, Peugeot, Volkswagen and its premium unit Audi are reducing production at their European plants as they grapple with the Coronavirus.

Like factories in the UK they do not have clarity on social-distancing rules in the workplace.

Audi said workers have downed tools over concerns about exposure to the virus while Fiat Chrysler said it was halting production for two weeks to help protect staff and adjust to decline in demand.

French carmaker PSA, which owns the Peugeot, Opel and Vauxhall brands, also said it was closing its European factories until March 27.

Ford said it was closing its plant in Valencia, Spain, for the rest of this week following a flurry of infections, and would reassess after talks with trade unions.

A spokeswoman said on Monday:

    “We have had three positive cases of COVID-19 on the Valencia site in a 24-hour period, two of which involved more isolated workers who did not enter the assembly operations,”

Ford employees who had close contact with the affected workers are now in self-isolation. Ford adds:

    “We will take all other appropriate steps to ensure that risk from this situation is minimised.”

Last week, some Spanish plants of the Renault-Nissan alliance and Volkswagen’s Spanish division Seat announced temporary stoppages that could last for days or weeks.

On Monday, Volkswagen’s Autoeuropa car assembly plant near Lisbon, Portugal, said it had reduced its daily output by 16% because of a shortage of workers after Portugal ordered all schools closed amid the coronavirus outbreak.

Volkswagen also said on Sunday it was preparing to suspend operations at its plant in Bratislava after Slovakia declared a state of emergency in response to the virus.

[skippy]

I bought my Scirocco early in 2009 when the model was new and at the height of the financial crash. I tried to use the economic situation as a bargaining tool, but the dealer got a bit annoyed and said, everyone is using that one and would not give an inch.

As the Scirocco was new to market at the time it was interesting and in demand, so there was no need to do me any special favours. I suspect the same will hold true with the MK8, but this is all very different now with  disrupted supply chains and dealers facing significant problems.

[monkeyhanger]

I bought my Scirocco early in 2009 when the model was new and at the height of the financial crash. I tried to use the economic situation as a bargaining tool, but the dealer got a bit annoyed and said, everyone is using that one and would not give an inch.

As the Scirocco was new to market at the time it was interesting and in demand, so there was no need to do me any special favours. I suspect the same will hold true with the MK8, but this is all very different now with  disrupted supply chains and dealers facing significant problems.

I also got a Scirocco, early 2009 - 140TDI GT in Pewter Grey. I got an exceptionally good deal on my 18 month old MK5 Golf GT Sport 170TDI because they were desperate for used stock to sell.

[skippy]

I bought my Scirocco early in 2009 when the model was new and at the height of the financial crash. I tried to use the economic situation as a bargaining tool, but the dealer got a bit annoyed and said, everyone is using that one and would not give an inch.

As the Scirocco was new to market at the time it was interesting and in demand, so there was no need to do me any special favours. I suspect the same will hold true with the MK8, but this is all very different now with  disrupted supply chains and dealers facing significant problems.

I also got a Scirocco, early 2009 - 140TDI GT in Pewter Grey. I got an exceptionally good deal on my 18 month old MK5 Golf GT Sport 170TDI because they were desperate for used stock to sell.

Yeah, I did not have a VW to PX, rather a Mazda RX/8 which they were not interested in and offered me silly money which I refused.

So managed to get a little discount off the new Roc, but considering the economic situation, it wasn’t a great deal. Still, proved to be a brilliant car which I have only recently sold in favour of my MK7.5!

[mustard]

I was told that there were two good days to buy anything, yesterday as you had had the enjoyment of it for a day longer, and tomorrow as it would be cheaper/newer.