As well as wreaking havoc with the human race, decimating the financial markets, and disrupting the day to day lives of billions of people, the COVID-19 virus has of course had an effect on the perceived, and real value of everything.
A couple of weeks ago, people were profiteering from overbuying toilet roll, while on the other side of the value chain, a high spec, 2 year old, 5000-mile McLaren 720S found a new home, having cost the first owner £62,500 per year just on depreciation.
Given that, it’s no surprise that the more ‘mainstream’ car market will be affected in the coming months and years; what’s more difficult to predict is exactly how.
In the past, manufacturers and finance companies have built attractive deals to tease buyers to lease or buy more upmarket models for the same easy, monthly payments as they might have spent on base models. Whether it’s bigger balloon payments, longer terms, or deposit incentives, these techniques have been designed to increase sales volumes of higher value vehicles which eventually find their way into the secondhand market.
Post COVID though, will peoples priorities change? After the disruption this has caused, will people be as inclined to stretch themselves quite so far for carbon trim or upgraded audio, when they’re got memories of £70 hand sanitiser? As many ex-lease, PCP, and even new car oversupplies hit the market, it’s likely to have a downward effect on the values of nearly new and older models alike.
It’s probable that there are going to be some real opportunities out there for those who have the cash or the confidence to commit. It’s certainly going to be a buyers market, and almost definite that the number on the sticker won’t be the selling price.
It just might be your chance to get the deal of a lifetime on your dream wheels. And Revolution Porsche can be there to help reduce the risk and help the honeymoon continue. Whether it’s a pre purchase inspection to give you an expert second opinion, a protection plan to cover you for wear and tear down the road, or just great value independent Porsche servicing - we can help get you moving….. In the car you really want to drive.
So what’s it to be… a daily driver 911 997 - available from about £17k? How about dabbling in the GT market… the 928 gets a lot of respect with that big up-front V8…. yours for… well, whatever you can negotiate… The ball’s in your court, make an offer and with our help, you might pick up a great sports car for shopping car money.
In the meantime, stay safe. From the team at Revolution Porsche.