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2Nd Hand Car Market Falling?

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There was a thread about Japanese cars but it got silly, so I'll start a new thread on 2nd hand car prices;

A couple of weeks ago someone I know as offered £3k for a low mileage car by the garage that serviced it from new. The owner thought they could do better selling it privately so hummed and haa'd a bit before going back to the garage. The garage said it could now only offer £1.5k as nothing was selling. Trying to advertise it in the local rag produced almost nil response and no sale.

The 2nd hand car market is dealing with more 'liquid' assets but is still a big ticket item, all be it one where depreciation is accepted as a fact unlike housing.

Quite apart from the economist's view that every second hand car is a lemon, has anyone else evidence of this market losing its liquidity in the last few weeks?

Maybe banks are no longer lending unsecured money or even money secured against houses?

My neighbour ordered a new Honda, the garage said it would be six weeks - and then the earthquake hit Japan. No idea what the timescale is now.

I guess they have better things to worry about than delivering a new car in the UK - poor people.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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