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

[monkeyhanger]

Just seen that Govt are asking finance companies to offer 3 month delays on payments and fired a warning that they would expect there be no amending of the balloon payment to align with what will be a likely dip in car prices as everyone prioritises other items.

Amending the balloon payment/GFV is a non-starter anyway. You can't force amended terms onto the consumer for a legally binding contract.

What may happen is that "equity" hook towards your next car will danish. You'll hand the keys back at 36/48 months with diddly squat to put down as deposit on the next one.

[monkeyhanger]

Just seen that Govt are asking finance companies to offer 3 month delays on payments and fired a warning that they would expect there be no amending of the balloon payment to align with what will be a likely dip in car prices as everyone prioritises other items.

Amending the balloon payment/GFV is a non-starter anyway. You can't force amended terms onto the consumer for a legally binding contract.

What may happen is that "equity" hook towards your next car will danish. You'll hand the keys back at 36/48 months with diddly squat to put down as deposit on the next one.

The finance companies took a risk against a once in a lifetime event happening, and it happened, with so far unquantifiable effect. Expect lower GFV and higher monthlies on your next PCP'd car though!

[My other womans a vw.]

Been following a few 2019 GTIs over the past few weeks.
Prices have been frozen during this time.
However on checking today,i’ve noticed a few,not all have increased in price,some by £100 others a few hundred pounds.
Is this the start of what’s been covered on here,regarding the last crash/ scrappage scheme-where dealers increased prices to compensate the vat drop/£2000 trade in?

[monkeyhanger]

Been following a few 2019 GTIs over the past few weeks.
Prices have been frozen during this time.
However on checking today,i’ve noticed a few,not all have increased in price,some by £100 others a few hundred pounds.
Is this the start of what’s been covered on here,regarding the last crash/ scrappage scheme-where dealers increased prices to compensate the vat drop/£2000 trade in?

There's been no word on a planned VAT cut or scrappage scheme, just suggestions by the xar industry as a means to get car sales moving again.

The dealerships with slight upward movement on their GTI prices are anticipating demand exceeding supply. They may be right, we know the hot MK8 Golfs won't be available for a while. Will people wait for a shiny new MK8, or will they be looking to treat themselves when lockdown is over (especially those not furloughed and no worse off).

[My other womans a vw.]

Ha-the exploitation of the common man,just like Xmas!
All the cars affected are basic spec pp GTIs,some not too far off 18 months old.
Perhaps they anticipate buyers expecting discount,so are adopting the ‘smoke and mirrors’ tactic.

[Watts]

Or as Monkeyhanger said, simple demand and supply. When I changed my car I got a webuyanycar quote on my trade in so I had a reasonable idea of what to expect. As is usual with these things, I got regular reminders from them so just out of interest I got a couple of updated quotes and both times they offered more than before. If the dealers can sell their cars for more then they are getting their pricing right, after all, no-one is being forced to buy them.

[david25]

Been following a few 2019 GTIs over the past few weeks.
Prices have been frozen during this time.
However on checking today,i’ve noticed a few,not all have increased in price,some by £100 others a few hundred pounds.
Is this the start of what’s been covered on here,regarding the last crash/ scrappage scheme-where dealers increased prices to compensate the vat drop/£2000 trade in?

Just be patient, see the chart I posted in the MY20 Order thread.

An average GTI will not escape, sure it might only be down 5% versus January but in my view they are definitely not going up!

[ramrod]

posting for the first time since i purchased my mk3 16v anni via this forum 10yrs ago...she is on 199,940 miles & rising daily BUT

 i am considering purchasing a mk7 facelift 19 plate, manual petrol from a not so local vw dealer that wont budge on the price at all, £7.5k deposit, 8.9% apr = £357 a month hire purchase

been an interesting read this thread & i think i may wait a few months longer & see how things pan out

cheers

[My other womans a vw.]

Ramrod,pick mine up today (6 hr train journey to Exeter)-they wouldn’t give me a penny off.
I asked if they would throw in rear mudflaps,which I would fit (I’d got the fronts off eBay)-told me no,because they would have to show it as a discount.
I would have waited,but the right car came along so I jumped.

[candy turbo]

being a clubsport S owner i follow the prices they are fetching , they seem to have gone up by a good few thousand and have been selling quite well , it may be that there is nt many on the market atm , but who knows the future !