I've been getting that horrible urge which tends to come around about this time of year for a change of car.
I sold my Cayman 981 about this time last year and really miss it so maybe looking for another or a Boxster.
I've been keeping an eye out on the Porsche forum on pistonheads and as you can imagine there's a fair bit of discussion going on about dropping values with some saying the WBAC valuation of their cars has dropped by a 1/3rd in the space of 2 weeks-we all know WBAC is not the barometer for Porsche prices but is indicative of a significant movement.
The discussion on their forum mirrors our discussion on Rolex watch prices with quite a few happy at the prospect of a serious price correction and also getting the halo models back in the hands of enthusiasts as opposed to speculators.On the other hand you have the guys saying it makes no difference as they're not selling anyway.
Whilst the value of the 2nd hand sports models will invariably drop it will be mirrored on the price you get for your own car so a bit of a double edged sword.
Basically just wondering what others thoughts are on how this will pan out and where the market will bottom out at?
Note-I realise we have bigger fish to fry at the moment so apologies for those affected at this time.
Last edited by Hood; 22nd March 2020 at 23:18.
Although not in the same market as you my wife has been after a newish Mazda 2 and we have noticed that some dealers have slashed the price by at least 15% in the last week and i expect this to get worse.
It suits my wife as a cash buyer with no car to sell she is in a win win situation.
I can't see many people buying new cars, or moving house over the next six months or more.
Quite what effect that will have on prices remains to be seen.
I have a second property I was about to put on the market, but there is literally no point right now.
So clever my foot fell off.
I’m in the final stages of completion on a house - scary times ...
It's just a matter of time...
In my opinion everything is going to go down over the next few months, cars,watches,houses, stocks and shares etc..
How far is anyone's guess but remember we are at the start and a lot of people will struggle to make it out of the other side.
It will come back eventually but I wouldn't be making any significant purchases right now, as things worsen more people will try to sell more things that no one wants or can afford so the market for said items will be flooded...
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I would agree with the above, but I’m expecting to be in the new house for the foreseeable future - so some fluctuations in price are less of a consideration. I’m expecting that most things will have bottomed out within the next 6 months, and potentially slowly improve.
In respect of houses, not too many people are able to sell immediately like they can with shares, and watches or cars at the right bargain basement price.
If I wasn’t about a week or two away from moving in, I might feel a little differently. It would be highly unlikely that I would have considered starting the process in this current environment.
It's just a matter of time...
My house is currently under offer and going through the usual process. The place I wanted to buy fell through so I’m not sure how this will all pan out. If my buyer wants to exchange I think I will and rent for a bit. Whilst the prospect of being able to get more for money in 6 months is nice, I can’t imagine much stock will come on. I think I would have proceeded with my onward purchase at the original price if the option was there.Originally Posted by Omegamanic
I also largely look at porsches. Currently have a 981S Boxster. I'm fairly certain it's lost quite a bit in the past few months. They were already going south before all this started and I think there is further to go.
On Friday, the place I got my current pork from sold a 996 Turbo Manual with 85k miles for 28k. That would have been almost 40k two years ago.
Another area I've noticed a few bargains is in luxury saloon cars and big convertibles.
Sl400 and sl500 that are less than a year old and with c. 1k miles on the clock are half brand new sticker price.
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Interesting article out of Hong Kong. For any speculators of luxury goods, get out quick.
https://asia.nikkei.com/Business/Ret...h5j4KNa5FRa4fE
Cash?? they wont like that.
I know what you're going through. As executor to a will I'm in the process of selling a flat. Sale agreed after much lowering of price, don't know what will happen now - will the buyer go ahead, will he ask for a further price drop, will he pull out altogether? Difficult times for all. Hope your deal goes through for you without hitch. Wish we had the same protection in house buying/selling that they do in Scotland!
Best Regards - Peter
I'd hate to be with you when you're on your own.
I can see a lot of lease cars no longer being worth the GFVs and so being handed back so could well be worth buying rather than leasing next time around.
Right now businesses will bite your hand off for cash flow. For the first time in ages I think cash may become king again.
Im going to be keeping an eye on the sports car market and hopefully manage to pick up something that would have previously been out of reach. Some people are going to lose out but I also think some models/brands have been overvalued and have had prices manipulated by big players for a while. Might see that corrected, which I think is overdue.
I'm hoping for the same and was considering buying a new Merc C43, but delivery times were 13 weeks - probably a lot longer now.
I haven't seen any evidence of prices in dealerships dropping, although the irony is that the new CarWow prices are considerably less than the prices being offered for ex-demo's and very low mileage cars ??
Not a sports car as such but i was looking to buy my Golf R off the lease company last month. I didn't go for it in the end and decided I would try and buy it at auction.
Whilst researching the price etc.. I checked we buy any car and they valued it at £16.5k. I checked out of curiosity last night and the offer was £10.5k! Now I am not saying it has dropped that much in value but it doesn't look like we buy any car want any more stock!
My car is in an auction next Monday but its online bids only which is restricted to the trade. Would of been interesting to see what it goes for.
Cheers
Ross
IMG_1869.JPG
WBAC bid on an Aston Martin DB7...
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It’s a great market for buyer’s that’s for sure. I have been mulling over getting a used Maserati (yes and all the maintenance costs that go along with it)
Will be monitoring prices
They were saying over on the Cutters forum that WBAC are not buying so I would disregard any estimates they come back with
Get a new car, learn a new song.
My Maserati does 185
I lost my licence so now I don't drive
I have a little old road in the back
I keep my doors locked in case I'm attacked...
Just heard from a friend at Mazda that all garages may be shutting from tonight...scary times.
Not a sports car but the other half is making enquiries to change her current lease with Ford Finance.
Dealers are saying they're taking no new orders this week and there's a possibility that, by Thursday, any new cars that were due to be delivered won't be.
Very uncertain times ahead.
I'd suggest having a chat with a local motor trader if your genuinely interested. If you know the car and want it you're well placed.
I've been looking at Z4s recently with a view to owning a convertible whilst I'm still young enough to get out of it unaided!
Just had an e-mail to say Ford Lookers are closing all their dealerships from tonight.
Sorry to jump in but have you seen my MX5 on Sales Corner?
I used to have an old MX5, sold it and got a Boxster, missed the MX5 so bought a current ND spec, love it but due to my Wife’s Pilates business folding due to Covid-19 it’s got to go sadly; it’s very cheap too
Many dealers here shutting tonight, smaller workshops also closing this weekend, my car was booked for an MOT on Thursday, no chance now, phoned all the guys I know, but 3 weeks seems to be minimum "holiday" they're having. Will the HGV amnesty be applied to cars I wonder? we have elderly parents too far away to walk to that need help.
Yes of course amnesty should apply. You are more likely to be done for being out and about without good reason currently
I have a 718 Cayman and am looking at getting a 718 GTS. Rang an OPC about a car in stock....said no at first offer, then a further £2.5k was dropped off the price, then a further offer of a full Gtechniq ceramic coating, the I asked about changing from PZeros to Michelin Pilot Sport tyres all round in the same price....they said yes....so I’m holding off at the the moment to see how things pan out, but think there is more to go....definitely a buyers market and I’m prepared to wait to get the right deal....
One of my best pals was looking at trading in his RS5. He was offered HALF of what he was 2 weeks ago.
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