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Car Prices with Economic Situation

Jesterarts

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Hey,

Just thinking...

With the current global situation, what do you guys think will happen to car prices?

Increase? Decrease?

And which markets will be affected most?

Used? New?

For example.

You you shop around you can get a VZ CV8 Manual for about 34 Grand.

With the economic downturn, the demand on big car's would drop you would think.

So what would you expect the price for such a car to be in say 2 years, 5 years?

I would expect that by mid 2011, you could find such a car for under 28 grand.

Just something I've been thinking about... Though I would get some input
 

greenfoam

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They have allready gone down HEAPS, all the old muscle cars are like half the price they were a year ago. Job losses are only just starting to ramp up too so everything will drop in value more soon
 

Jesterarts

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I would have though that the older classics wouldn't suffer too much...

Though now that I think about it... I guess those cars are more "Want one" than "Need one" so people who were looking for a toy for the weekends might hold off.

Interesting
 

ari666

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i am an LMCT dealer and importer and have not noticed any down turns so far. there was a lull a month or two ago where we went 6 weeks without selling a car, but we sold 6 in the following week. so it worked out even.

i think its just new cars that are suffering. also a lot of dealers got shafted when GE money decided pull their finance back out of cars.

we also handle a lot of compliance work for other dealers and individuals wanting to import which has not dropped off in the slightest.
 

Grennan

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Well im in the market for a used car and Ive been looking for quite a while doing research etc and to be honest I havent seen the used car prices take much of a hit at all. As bad as it sounds I was hoping people would be getting desperate to sell their SS or HSV so I could pick up a bargain but it hasnt happened yet.
 

Jesterarts

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I think it's really to early for the car market to respond to the situation at the moment.

As I don't think anyway can really say that they are feeling the effects of the situation.

I think perhaps towards the end of the year, just after christmas prices may tumble a bit.
 

Steery

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Well im in the market for a used car and Ive been looking for quite a while doing research etc and to be honest I havent seen the used car prices take much of a hit at all. As bad as it sounds I was hoping people would be getting desperate to sell their SS or HSV so I could pick up a bargain but it hasnt happened yet.
I'm sure it will happen, in Adelaide at least, a lot of the people that own SS's (possibly not HSV's) are labourers. 90% of labouring jobs are casual so they can be laid off at any time.

(Based on what I have seen)
 
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