Honest John says:
Coronavirus: Used car prices set to soar as coronavirus hits new car production

Based on a few enquiries made about non LR vehicles, those dealers who are responding from home don’t seem to have dropped their still quite high screen prices and they still have high sale price expectations.

That's what I thought...

Rubbish! Used and new car prices are falling and will continue to do so until they find the level of their true worth. We have seen a constant increase in prices from cars and oil to houses.

We have these adjustments every 15 or so years.

Jim

There will inevitably be a downward correction in both new and used prices, but there will also be lots of cheap debt issued by the central banks to stimulate economic recovery, so cheap finance will also be around too. All that is to come mind, for the foreseeable, ie the next 2-3 months, there will be little or no activity in either the motor trade or the property market. Once the movement restrictions end, dealers will be begging us to change cars and offering all kinds of deals.

The big problem will be all the repossessed pcp stock from people who lost their incomes and couldn’t make the payments, so possibly plenty of bargains for cash buyers. Folks like me, who have the cash but buy using finance to preserve capital, can either chop in for something newer, but take a hit on the current car, or just hang on to it and hand it back at term and take a view then. I’m going to hang on to the current car.

Some interesting points in the response columns

https://www.thetimes.co.uk/edition/busines...-lhjp72dc5

jim4244 wrote:

Rubbish! ...

And breathe Jim

Andy S wrote:

There will inevitably be a downward correction in both new and used prices, but there will also be lots of cheap debt issued by the central banks to stimulate economic recovery, so cheap finance will also be ....