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Post by Humph on Mar 28, 2023 8:02:51 GMT
I reckon it would take £20-£30k to put me in something significantly better than I already have. I could afford that if required, but I can think of a whole heap of other things to do with that money.
I just don’t seem to be as interested in acquiring “stuff” anymore.
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WDB
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Post by WDB on Mar 28, 2023 11:49:01 GMT
I doubt it. Give the latest interest rate shock a bit more time to bite and dealers will be begging us to pop round - if only to drink their coffee before the beans go stale and they have to throw them away.
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Post by EspadaIII on Mar 28, 2023 12:45:00 GMT
I wonder how the prestige market will do? So many people tooling around in very expensive cars they can ill afford to buy but due to low interest rates can afford to lease or PCP. When they get handed back, what will the drivers do?
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Rob
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Post by Rob on Mar 28, 2023 14:07:28 GMT
Well as you say current PCP deal based on low interest rates and probably cheaper cars and there may have been a good second hand car traded.... meaning low monthly cost for the deal.
When they need to get their next car, the cars are more expensive and interest much higher... So they cannot easily afford anything like they have now.
I'm a bit behind reading Auto Express so my next comment is sort of months old. But I read one person had their new EV on order and waited a long time. When it arrived the dealer changed the valuation for their Citroen EV - down from £22,500 to £16,000. So the deal was now stump up an extra £2k for a deposit and pay more monthly. Tesla can't have helped EV resale values when they chopped so much off the list price for new orders.
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WDB
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Post by WDB on Mar 28, 2023 14:16:24 GMT
That kind of story suggests customers don't read the contract properly. Don't sign anything that doesn't state firmly what you're going to pay!
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Rob
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Post by Rob on Mar 28, 2023 15:42:54 GMT
But if say you've waited 9 months for a car, then I'd be surprised if any contract said they'd honour the value of your car and the price of the new one. In the example I gave I think it was 6 months. The lead time on some EVs is over a year so how can anyone know the terms of the future deal? Not every car manufacturer reduces prices like Tesla did recently. And even some yet to take delivery of those still had to pay the higher price!
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WDB
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Post by WDB on Mar 28, 2023 16:44:39 GMT
Of course it can. A contract can say whatever the parties agree that it should — within the law, of course. And a buyer who signs a contract that says, in effect, ‘At some unspecified future date, I promise to buy your asset at whatever price you name at that date, and to sell you mine, also at a price of your choosing,’ is not negotiating so much as dropping their pants. You’d have to be an utter mug to do it. www.whatcar.com/advice/buying/dealing-with-new-car-delays-and-how-to-take-control/n1155 |
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