Price Buying new cars now that there is a credit crunch!

[Roger Stone]

Now that there is a credit crunch etc etc etc - Do you think new car prices will come down? and that the dealers will feel the pinch and have to do more to arract people to part with their hard earned cash??

[NH Dan]

Originally Posted by Roger Stone

Now that there is a credit crunch etc etc etc - Do you think new car prices will come down? and that the dealers will feel the pinch and have to do more to arract people to part with their hard earned cash??

nope

[ghowarth]

Short and sweet, Dan!

[paul_b]

If things continue the way they have been (and I expect they will), everyone will be feeling the pinch if they aren't already.

Companies like Sky I imagine will be big losers, and those dealing in other non-essentials. I think car dealers will also be hit, with people changing their car less frequently. Not sure exactly how commercial car sales will be affected, but many consumers have purchased cars and other luxuries by adding them to their mortgage (MEWing). This is now expensive and more difficult to do, and with the prospect of house price corrections, access to this money supply is reducing.

So whilst list prices may not come down, I expect there will be better deals out there, not to mention the gloomy prospect of wild scale job losses and the further effects of a biting recession. Boom times can't last forever.

[Moose]

There's only two things in this life guaranteed to come down ........

Rain

and a

Prostitutes knickers

[Jack The Lad.]

[cnicolini]

Originally Posted by Roger Stone

Now that there is a credit crunch etc etc etc - Do you think new car prices will come down? and that the dealers will feel the pinch and have to do more to arract people to part with their hard earned cash??

No, if anything the CTR went up in price, around £400 from when I brought mine in Oct 2007. I'm not sure about the other models.

[Coldwarkid]

Dealers might feel the pinch next year when the showroom tax kicks in.

[angie4m]

There will always be people who want these cars, people who can afford to own these cars and although some folk don't do it, most should be living within their means. So I would hope that if someone was struggling for cash the last thing on their mind was splashing £20k on a car for talkings sake and thats before running costs etc.

I wouldn't of bought my car if I couldn't of afforded it that includes insuring (fully comp) and running it (also budgeting for servicing, tyres, brakes etc)

Maybe when i'm older and maybe have kids etc things maybe different until such time there will be people like me who are willing to save (for 6 years I may add) in order to hand over cash for their car.

[Kremmen]

If it does kick in Dan and family will be on bread & dripping for the forseeable future

[angie4m]

There is more wealth than debt in the UK, so until this is the opposite I don't see it having too big an impact on some luxury goods. Okay they won't all want to buy Honda's but there will still be consumers with the readys

[NH Dan]

Originally Posted by Coldwarkid

Dealers might feel the pinch next year when the showroom tax kicks in.

not next year, april 2010.....thank god

[Coldwarkid]

You're looking good for two more years then.

[mrh339]

Do you think a dealer is going to say yes prices will drop please come in and haggle hard and reduce my commission? No me neither, On paper prices will remain the same but there will be less customers buying new cars so dealers will have to compete to get your custom so you should be able to demand a better deal. Sure NHDan will say different but its simple economics that if there is less money in circulation then the dealers will not be doing the same amount of trade so will have to reduce margins to do business or go bust.

[Pumatron]

Originally Posted by Moose

There's only two things in this life guaranteed to come down ........

Rain

and a

Prostitutes knickers

Oooooooo, you have posh prostitutes your way, they don't wear knickers around my way................Ermmm did I just type that out loud...

[Pottsy]

Have a read:

ACEA - European Automobile Manufacturers' Association

and

European car sales plummet as the credit crunch takes its toll - Times Online

[Moose]

Dealers don't feel the pinch, they just pass it on to us

[Kremmen]

I never buy a car from a dealer at the first visit. I always get a number of quotes to see how they compare.

In the main I can usually save at least £1k by this method.

I do my homework, know exactly what I want so I can compare like for like.

The only exception to this was when I was p/x my last Xantia and was looking at a C5.

I wanted the Exclusive 3.0 V6 which was retailing at £21k and the dealer quoted £16k so I took him up on it straight away.

[Scorcher]

Prices will not come down but as the salesmen fall short of their targets there should be some great deals in the future. But I guess you can expect less for the tradein vehicle. Swings and roundabouts and as always the punter will take the hit !!