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Discussion Starter #1
Put a deposit of £1500 down on a 2014 car with a price of £45k last wkd with the aim to pick up at the end of the month.
The deposit is non refundable but now worried if it’s best to loose the deposit and save possibly a big loss on the residual value of the car with all the uncertainty about or just proceed and hope it will be ok ?!
Thoughts ?
 

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Put a deposit of £1500 down on a 2014 car with a price of £45k last wkd with the aim to pick up at the end of the month.
The deposit is non refundable but now worried if it’s best to loose the deposit and save possibly a big loss on the residual value of the car with all the uncertainty about or just proceed and hope it will be ok ?!
Thoughts ?
You don't buy a sports car to worry about residuals. Buy it and enjoy it.
Still plenty of super unleaded around to be burnt.
 

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Discussion Starter #4
No agreed don’t buy with residual values too much in mind but if I take the hit on the deposit now will I get a better deal in a few wks or months with the uncertainty about ? Dealers needing to offload cars to keep turn over going ?
 

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No agreed don’t buy with residual values too much in mind but if I take the hit on the deposit now will I get a better deal in a few wks or months with the uncertainty about ? Dealers needing to offload cars to keep turn over going ?
You'll never know until it's too late I'd think.
Government is propping up business to cover staff wages so even at dealers the guys in sales will be getting a wage hopefully minimising a dealers overheads.
Summer is coming up so i'd expect a decent car to command a premium in those months regardless of the current sh*t storm.

Unless the dealers jump on the BoE base rate fall and offer sill rates for PCP and HP, then i doubt used GTRs will drop. But who knows.
 

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If you worried about depreciation, i wouldnt think a GT-R is going to tick all the boxes you want. what happens when it needs new brakes, servicing etc.

i wouldnt be taking one on right now but thats my view.

life is too short however, but used cars will be the first thing people try to off load in order to make ends meet.

many live month to month

those who change cars because they "want to " are different to those who "need to"

your buying essentially a weekend toy that many others have,

up to you but id not be buying cars full stop right now, and in fact have withdrawn from an existing purchase.
 

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Times are uncertain. Some people will have this covered already.

But a GTR is luxury not a necessity. So many will move on without a doubt.

Without sounding rude. If future values, running cost are already on your mind, GTR would not be a wise choice right now.
 

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Discussion Starter #8
The running costs are not the issue, I’m fully prepared for those and I know from previous experience that 99% of cars depreciate regardless too.
It’s more that concerned about taking a massive hit straight off the bat after purchase so to spk or whether I just take a hit in the deposit and wait to see what happens with all this going on ?
 

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I say it follow it through if thats the right car/spec you want. Things will go worse before they get better. If you keeping the car long term, it shouldnt affect you.
 

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The running costs are not the issue, I’m fully prepared for those and I know from previous experience that 99% of cars depreciate regardless too.
It’s more that concerned about taking a massive hit straight off the bat after purchase so to spk or whether I just take a hit in the deposit and wait to see what happens with all this going on ?
How long do u intend to keep the car?
If it's a good while then It's not gonna matter too much as once everything goes back to normal surely demand and prices will go back to normal.
If u only intend to keep the car 6 months then no probably not a good time to buy.
You may get a better deal on buying one in a few weeks or months but this will be offset by the £1500 deposit u will be losing.
If I was in your postion, planning on keeping the car a while and think ur income is gonna remain stable over the coming weeks and months then I would go ahead with the purchase
 

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Have you signed something to agree the £1500 is non refundable ? Under most contracts, to cancel after a week only a nominal amount would be deemed acceptable. If deposit was done via distance selling its fully refundable.

Regardless of this, if its the car you want and have bought to use & drive buy it and enjoy !

Sent from my SM-G973F using Tapatalk
 

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Discussion Starter #12
No tried asking for deposit back but under law I’m not entitled apparently. Even tried appealing to his better nature and was prepared to not have all deposit back be again to no avail. As time goes on thinking may just bite the bullet and carry on with the purchase and hopefully all will be back to normal at sometime soon as was buying it to keep.
 

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You want to buy a car from someone treating like that ffs

pull out, put it down to a lesson and wait

plenty will be trying to off load their car
 

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Discussion Starter #16
I’m not going to say who but yes trade.
That was my initial thought to be honest and still in the back of my mind to do that too, yes this is my dilemma as you say I’m sure they’re will be a few trying to sell in the coming wks or months due to financially problems ?
Yes did sign a document and even spoke to the credit card company but they also said the law was not on my side unless there was something fundamentally wrong with the car.
 

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If you are happy with the car go for it. None of knows what is round the corner so far better to enjoy yourself whilst you are here.
35 prices have always held well and I think they will continue to do so.
 

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I bought my r35 exactly a year ago today, I paid over the odds or it as it was a mint low miler, since then ive sent nearly another 10k modding it which is cash you don't really get back .I know that if I wanted to sell it tomorrow id be looking at a 20k loss. I had my eyes open when I went in for it and I don't regret a thing.
 

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It depends on what you think will happen in the next 2 months or so. If you think the world will return to pretty much normal by then, then buy it. From speaking with my friends and neighbors, that's what they all believe. On the other hand, my wife thinks I've flipped with what I think is going to happen.
 
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