beefheart Posted October 8, 2007 Share Posted October 8, 2007 Will I be able to pick up a very cheap MEWd car as the sheeple sell to save their houses? What happened in great crash 1? Quote Link to comment Share on other sites More sharing options...
House of Lords Posted October 8, 2007 Share Posted October 8, 2007 Will I be able to pick up a very cheap MEWd car as the sheeple sell to save their houses?What happened in great crash 1? I'm banking on this - need to replace our one but I think the market will be flooded over the next 12 months. People will downgrade their car if they think it will stop them downgrading their house / getting turfed out. Just look at the US for the clues - car sales have tanked. We're just a bit behind them as usual. Quote Link to comment Share on other sites More sharing options...
sambino Posted October 8, 2007 Share Posted October 8, 2007 Would you want a 4x4 ? The government will keep upping the tax on them Quote Link to comment Share on other sites More sharing options...
beefheart Posted October 8, 2007 Author Share Posted October 8, 2007 I'm banking on this - need to replace our one but I think the market will be flooded over the next 12 months. People will downgrade their car if they think it will stop them downgrading their house / getting turfed out.Just look at the US for the clues - car sales have tanked. We're just a bit behind them as usual. nah ive got a 12 year old BMW 525 tds that i run on straight veggie oil. I quite fancy a newer 530d. Quote Link to comment Share on other sites More sharing options...
Justice Posted October 8, 2007 Share Posted October 8, 2007 You could pick a 9-11 up for peanuts after the last crash. Stay clear of cars that eat up the petrol as i don't think taxes on petrol are going to do anything apart from going balistic and GW-Bush and his saudi royal friends are doing all they can to push the price of oil up so it's going to be a double wham. i've already got the fast car bit out of my system after doing 148mph but can understand others wanting to do the same thing at some stage during there lives. Quote Link to comment Share on other sites More sharing options...
callaght Posted October 8, 2007 Share Posted October 8, 2007 I’m really hoping for this too. My car that I’ve had for the past five years is and always has been highly rubbish and for once in my life I’ve got the cash to buy a decent one, but I wonder if I can get a cheaper one when mortgages reset upwards. Has anyone got experience of car prices falling in the US? Quote Link to comment Share on other sites More sharing options...
t350t Posted October 8, 2007 Share Posted October 8, 2007 (edited) i don't think taxes on petrol are going to do anything apart from going balistic This is what I'm thinking, I had a future nice car purchase planned but I increasingly get the impression I'd better do it sooner rather than later. Although fuel taxes will also make these vehicles harder to sell, right ? Edited October 8, 2007 by t350t Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted October 8, 2007 Share Posted October 8, 2007 (edited) oops Edited October 8, 2007 by Shedfish Quote Link to comment Share on other sites More sharing options...
Cogs Posted October 8, 2007 Share Posted October 8, 2007 Will I be able to pick up a very cheap MEWd car as the sheeple sell to save their houses?What happened in great crash 1? There was a report on the TV the other day that claimed second hand prices were collapsing. Its never been easier to go to a dealer and demand a hefty discount, so the market for second hand cars is fading. This is more with the sort of brands who have dealers who trade on volume obviously (Ford, Vockies, don't know about BWM or Mercedes though). There is (possibly) an argument that car prices are falling ahead of house prices now MEWing doesn't look quite as attractive. Quote Link to comment Share on other sites More sharing options...
Serpico Posted October 8, 2007 Share Posted October 8, 2007 Have a day out at you local car auction or take a look on Ebay to see how cheap you can pick up a good set of wheels. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 8, 2007 Share Posted October 8, 2007 NOt forgetting that if car prices are crashing, the whole economy is going as well. I think youd be better off paying down any credit cards and then saving as much as you can Quote Link to comment Share on other sites More sharing options...
lordofcolchester Posted October 8, 2007 Share Posted October 8, 2007 I actually think car prices, estate cars in particular, are going to hold their value if not increase. After all there will be a fair few people who will be living in their cars pretty soon! Quote Link to comment Share on other sites More sharing options...
beefheart Posted October 8, 2007 Author Share Posted October 8, 2007 NOt forgetting that if car prices are crashing, the whole economy is going as well.I think youd be better off paying down any credit cards and then saving as much as you can I owe about 100 quid on 1 Cred card. I have no other debts. I just STRd . completed bout 2 weeks ago. Now have 70 grand in bank of sale. sold for 136k bought for 72k in october 2001. My mind is boggling by the fact I have the money i bought the house for of the proceeds of the sale only 6 years to the day on! I remember that when i bought the estate agents were bloody packed. when i sold they were bloody quiet. :-) Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 8, 2007 Share Posted October 8, 2007 I owe about 100 quid on 1 Cred card.I have no other debts. I just STRd . completed bout 2 weeks ago. Now have 70 grand in bank of sale. sold for 136k bought for 72k in october 2001. My mind is boggling by the fact I have the money i bought the house for of the proceeds of the sale only 6 years to the day on! I remember that when i bought the estate agents were bloody packed. when i sold they were bloody quiet. :-) Great news- you are set for the crash! Cash is king in a recession Quote Link to comment Share on other sites More sharing options...
detached Posted October 8, 2007 Share Posted October 8, 2007 I reckon we good see the resale value for the ultimate MEWmobile, the X5, softening somewhat in the near term ....... 226 listed on Ebay as at this morning, and no much evidence of agressive bidding. Will reg. BTL I come up for auction? http://listings.ebay.co.uk/_W0QQsocmdZList...earch&fgtp= Quote Link to comment Share on other sites More sharing options...
Crash Buyer Posted October 8, 2007 Share Posted October 8, 2007 Will I be able to pick up a very cheap MEWd car as the sheeple sell to save their houses? IMO yes What happened in great crash 1? In the last crash, residual values for used cars did not drop dramatically in nominal terms, but did fall in real terms (due to high inflation). The used market is characterised by over supply (as there are around 2.5m new cars registered a year) and prices have been generally falling since 1999 (a good year is a gain of 2 or 3%, a bad year -10%). There was a boom in used values from 1994 to 1998. I would expect the used market to be hit hard by the imminent recession. Quote Link to comment Share on other sites More sharing options...
Thread Killer Posted October 8, 2007 Share Posted October 8, 2007 Just a little anecdotel from me: I have been in business with a friend buying from auction and selling in the autotrader, and we are finding that auction prices are sometimes higher than the private sale price. This is because there are members of the public now at car auctions, and they often bid the price of the cars well above trade values. So my mate and I have made a slight loss so far on it. ho hum... Quote Link to comment Share on other sites More sharing options...
Far Out Bear Posted October 8, 2007 Share Posted October 8, 2007 You idiots. How are car prices going to go down? Look at consumer prices, they're skyrocketing. The only reason house prices tend to fall is because they are fixed and cannot be sold elsewhere. The currency is going to get trashed (as RB correctly has analysed) the minute the HPI-MEW miracle turns to sh!t. This is not going to make importing cars cheaper and will lead to exporting second hand cars to people with more money to pay for them. Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted October 8, 2007 Share Posted October 8, 2007 nah ive got a 12 year old BMW 525 tds that i run on straight veggie oil.I quite fancy a newer 530d. LOL. I had a 330d Sport and got shot of it cos someone offered me a load of cash for it. Now got a 12 year old 525tds!! 530d's are lovely, but cost a packet when they go wrong unless you are handy with the spanners. Fuel delivery and turbos are pretty common and you are looking at horrendous bills. I am off to the auction this week to have a punt on something so I will let everyone know. I usually go once every couple of months. As the posted above said, certainly the last time I went, some of the prices cars were going through at were horrifically high. You could go and buy cheaper at a private sale. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 8, 2007 Share Posted October 8, 2007 You idiots.How are car prices going to go down? Look at consumer prices, they're skyrocketing. The only reason house prices tend to fall is because they are fixed and cannot be sold elsewhere. The currency is going to get trashed (as RB correctly has analysed) the minute the HPI-MEW miracle turns to sh!t. This is not going to make importing cars cheaper and will lead to exporting second hand cars to people with more money to pay for them. Its called supply and demand tons of cars needing to be sold=tons of prices coming down. There was a huge market for Skodas in the last recession, they were sold to the busted Eastern block. Not sure who wants our old cars as they are made throughout the world now with used cars everywhere, Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted October 8, 2007 Share Posted October 8, 2007 You idiots.How are car prices going to go down? Look at consumer prices, they're skyrocketing. The only reason house prices tend to fall is because they are fixed and cannot be sold elsewhere. The currency is going to get trashed (as RB correctly has analysed) the minute the HPI-MEW miracle turns to sh!t. This is not going to make importing cars cheaper and will lead to exporting second hand cars to people with more money to pay for them. You are the idiot, as usual. Car prices are volatile, especially in the UK where people get in huge hock to be "seen" as flash. When people need to liquidate cash and pay back finance to reduce outgoings, the "flash" car is the first victim. Seeing as we have so many flash cars here, a huge amount of which are ALL on finance, their values will plummet. Especially when you consider how much these cars actually cost to run in terms of maintenance and consumables such as tyres, etc. BMW, Audi and Merc dealers know how to write out an invoice alright. Quote Link to comment Share on other sites More sharing options...
evictee Posted October 8, 2007 Share Posted October 8, 2007 Stay clear of cars that eat up the petrol as i don't think taxes on petrol are going to do anything apart from going balistic Um, apart from going to zero? Quote Link to comment Share on other sites More sharing options...
Far Out Bear Posted October 8, 2007 Share Posted October 8, 2007 You are both making two stupid errors. 1) That the situation today is anything like 1990 2) That there are only UK citizens in the market for buying cars (new or second hand) You are both utterly ignorant of the reality that faces our country. The highest bidder wins the lot - foreigners with much appreciated currencies (compared to ours) will be buying the supply that has been fed into the domestic market. This 1929 deflation nonsense really makes me wonder if you guys even have double digit IQ. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 8, 2007 Share Posted October 8, 2007 I just got myself an old BMW Z3, 1998, 60k miles, 6 grand. It's mint. I love it. Quote Link to comment Share on other sites More sharing options...
Crash Buyer Posted October 8, 2007 Share Posted October 8, 2007 You idiots.How are car prices going to go down? Look at consumer prices, they're skyrocketing. The only reason house prices tend to fall is because they are fixed and cannot be sold elsewhere. The currency is going to get trashed (as RB correctly has analysed) the minute the HPI-MEW miracle turns to sh!t. This is not going to make importing cars cheaper and will lead to exporting second hand cars to people with more money to pay for them. It helps if you know something about the industry, or economics. As I posted earlier, there is massive over supply in the used market. Refer to this link for some data - BCA Sales of durable goods tend to decline in a recession. Also, educate yourself at the link below. Wikipedia Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.