Are used car prices rolling over?

[El Conquistador]

Originally Posted by Flacht3

Ehh not true for Rolex/AP/Patek etc.

Those prices are only down 2-5%, and still going well over MSRP. Trust me, been watching close as I’ll be buying if they continue to fall.

Omega, Breitling, Panerai etc we’re already pretty soft before all this. But I’m sure there will be great deals to be had.

Dealers control that market, I'm sure transactions are down 50 to 80% over the last month.

[Flacht3]

Originally Posted by El Conquistador

Dealers control that market, I'm sure transactions are down 50 to 80% over the last month.

Dealers don't control the market. Rolex (supply side) does.

Dealers don't have any supply control over SS models. It's not like dealers are artificially decreasing supply of stainless Daytonas, GMTs, etc. No, they don't have any inventory to begin with because Rolex etc. have been limiting production.

With the factories shut down (I heard through end of April, could be wrong) supply will be even lower coming out of this...so no, you won't have dealers sitting on a magical increase in inventory they're trying to offload.

However, you have plenty of people (collectors, resellers) that may try to off-load their inventory. If we start seeing more supply and prices going down, it won't be because of dealers, it will because of all the resellers and speculators.

I'm only referring to SS models. Precious metals could be a different story.

[El Conquistador]

I was talking about stainless models.

[Humdizzle]

it'll be interesting to see what happens with the high end car market. Will my ferrari value go up because the factory is shut down for a good amount of time? Or will prices fall because the owner's businesses have run dry and they need to free up money quick? Certain industries are getting hit very hard.

[fastboatster]

Originally Posted by Humdizzle

it'll be interesting to see what happens with the high end car market. Will my ferrari value go up because the factory is shut down for a good amount of time? Or will prices fall because the owner's businesses have run dry and they need to free up money quick? Certain industries are getting hit very hard.

Idk, I'd guess they would stay the same. They cost to much to be bought by small business owners imo, and for the large business they are drop in a bucket not to mention that large business will likely be able to negotiate good bailout money.

[cooolone2]

Originally Posted by NickyC

Excuse me, I don’t see the requisite panic and boot licking qualities in your above post. I’m going to report you to the civil authorities unless you immediately expose yourself to 24 hours of straight MSM and social media driven fear porn. It doesn’t matter if you have a 0.0004% chance of contracting and then dying of the beer virus. I want you hysterical with fear and licking boots by this time tomorrow.

Shame!!

Hahahaha

[El Conquistador]

Originally Posted by cooolone2

Hahahaha

If it was only Fox watchers it would be fine. But as with the bail out it will be blue States paying for the red welfare States as always.

[Alfisti]

You guys are delusional, the unemployment numbers are astronomical. You just think this is all going to be normal in several months? Cannot see it, absolutely no way i can see it.

[chassis]

Alfisti, is your answer to the original question, “Yes.”?

[freakystyly]

I think used car listings in desirable cars will taper off at first, since no one wants to buy anything under this uncertainty. Prices will stay high in the immediate future of course... a $200,000 car isn't worth any less, if anything it may be worth more because of limited listings.

Most people with toy garage queen cars would just hold onto them for the coming months until things blow over.

If people don't NEED to sell they will hold onto their stock. Dealerships and private owners alike. It's not like they are getting in new stock that they need to make room for.

Recently unemployed people may need to let go of their 2nd, 3rd, 4th cars but that was due to poor financial planning in general. The prices will remain high until there is a flood of stock. Similar to house prices I guess, stock is still very limited in most cities, prices stay high.

[fastboatster]

Yeah, I’m starting to see smoking deals on the e90 335is, one guy is practically giving away his 220kmile 09 335i for 5500). Depends on the area, though. Here, most of the people with fun cars are in tech and not feeling it yet, while people from service sector were not doing too well before the pandemic anyway and didn’t had many toys at a first place

[ASAP]

Originally Posted by fastboatster

Yeah, I’m starting to see smoking deals on the e90 335is, one guy is practically giving away his 220kmile 09 335i for 5500). Depends on the area, though. Here, most of the people with fun cars are in tech and not feeling it yet, while people from service sector were not doing too well before the pandemic anyway and didn’t had many toys at a first place

... that is still about $2k too much...

[TheBingoBalls]

Originally Posted by ASAP

... that is still about $2k too much...

That's what I was thinking. How is $5,500 USD/$7,700 CAD a deal on a 2009 335is with 220,000 miles/320,000km?

If that is the lowest of a group of similar cars, that just means the rest are grossly overpriced for a 10 year-old car with that mileage.

[RMachuca3d]

Trump said everything is perfect, 10/10, economy will be stronger than before, so no need to worry! He never lies and is absolutely never wrong!!!! Car sales will triple guaranteed! Unemployment will be so good it’ll be in the negatives!

Back to reality, short answer is no. With a pause in production of new cars, and supply chain being affected too there will be less nee cars overall after all of this is dealt with rationally, which will put more demand on used car sales which means it’ll keep it stable, with that being said and some people being in a pinch, there will be some pretty good deals if you’re looking to purchase from a person who needs to liquidate.

[Alfisti]

Originally Posted by chassis

Alfisti, is your answer to the original question, “Yes.”?

Used market, not sure. Maybe at the medium high end like say early 007's for example, even 997 2's.


But good cheap cars like Toyota will hold value as new supply will be limited.

[chassis]

A vehicle listing on my watch list disappeared from the lowest end of the price range. Hard to say if it was sold, or if the listing was removed by the seller. Listings below that price point are for vehicles with title issues. Summary - no significant movement in the past week or so.

[Alfisti]

Yeah i am not seeing a lot of movement but a few newer listing have been a touch lower than normal for sure. All a moot point now, i am out of the market but still curious, i just cannot take the risk.

[Socal_R8]

All car sales are going to go off a cliff soon especially new cars..... you see Jeep running their 84 mo 0% financing ads?

Most banks will work with you and give a 2-3 month payment deferment on your current car loans, so it might be a few more months before you see some good deals on the used market. Hopefully this is a very short term economic nightmare and people will be back to work by June....god willing

[FuriouslyFast]

New car dealers can't even sell cars (if you want to walk on the lot anyway) in PA.

I'm waiting for the used market to crash so I can try to pick up something awesome for stupid cheap.

[RMachuca3d]

Originally Posted by FuriouslyFast

New car dealers can't even sell cars (if you want to walk on the lot anyway) in PA.

I'm waiting for the used market to crash so I can try to pick up something awesome for stupid cheap.

Not going to happen.

[QUiKSR20]

I feel I just did pretty good in this terrible situation.... After a month of internet pricing/shopping/researching I found a CPO 2018 x3 in Phytonic Blue Metallic w/ Cognac leather + options I wanted priced @ 32,900".

The car is a 2018 xdrive30i w/38k miles that was leased for 1 year 10 months and has the balance of the 4 year / 50,000 bumper to bumper warranty which expires 4/28/22 and an additional year with UNLIMITED MILES of engine, transmission, and powertrain till 04/28/2023 via CPO. It also comes with a second set of OEM 19" rims with winter tires.

I got the price down to $32,000 out the door without any other fees and im bringing my own financing through the local credit union at 1.9%.

TLDR

• Car - CPO '18 xdrive 30i w/38k miles with 2 sets of OEM rims ( One set has snow tires )
• Price - 32k out the door ( 31,475 + fees )
• Financing - 1.9% via local credit union ( not the dealer )
• Warranty - CPO till 4/28/2023 ( factory warranty till 50k or 4/28/22 )
• Build Sheet - https://www.mdecoder.com/decode/ld67209

The car -

[FuriouslyFast]

Originally Posted by RMachuca3d

Not going to happen.

B/c many have not lost their jobs as of today & many more won't? Oh , wait...

There's a very high possibility that it does happen, man.