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As I have said before I am currently amassing budget for a personal project and therefore observing the market for all makes quite closely. Whilst it's still early days, and I could yet be wrong but with the world seemingly on the brink of catching a major cold it does already seem to be touching the used car market. Not good if you are needing to realise an asset but potentially good for me as a prospective buyer?
Temeraire (2018 quasar grey automatic)
One of the last 200ish of the gen3s, probably.
ADOS Attention Deficit Ooooh Shiny!
I think the used market will do well with all these tariff wars etc. I could see new cars becoming a problem but for older cars already in the UK and the fact they will have done all their devaluation they could be looking more tempting to people. Without starting an electric vs ice debate I could also see 2000 - 2011 era cars very quickly becoming future classics as people look to go back to nostalgic cars because quite frankly nothing new is exciting anymore in my opinion. I'm still shocked that 6 years later my SZ5 is still worth more than what I paid yet probably any other car bought during the same time has probably tanked massively and with no more jimnys coming in it's not really got anywhere to fall.
Generally speaking - if new car prices are affected by tariffs, then used car pricing will also be affected, higher prices for new vehicles typically means reduced sales and that translates to less vehicles coming into the used car market and that usually drives prices up.
Possibly you are right but I can't shake the feeling that it's not just the car market that is going to be in trouble and if people generally have less money for everything they might have reservations about getting another new to them car beyond necessity purchasing. Certainly looking at the last few days of stocks and shares is making me nervous.
Temeraire (2018 quasar grey automatic)
One of the last 200ish of the gen3s, probably.
ADOS Attention Deficit Ooooh Shiny!
We had taxes on cars for years, more or less 40-50% on all new cars with a petrol or diesel engine. So prices for good used cars are very high and do not go down.
Also when what now looks like a dip in the general world economics come more into play, the most cheap solution is to make use of cheaper used cars or the one you allready got, so demand will not go down and so prices will hold i think.
And when there will be less new cars sold then after a year or two there are less used cars too.
However the currency here will play a big part. If your GBP hold and is strong then your import cars will get cheaper.
Here the NOK is weak so they only get more expensive.
Some have jobs that rely on US markets but most of us haven't and most markets will turn towards more EU/UK/Asia dealings so we'll manage just fine I guess.
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