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Discussion Starter #1
I'm in the process of renewing my car insurance and was interested that the depreciation of the car is quite high.

I bought the car for about £17,000 in May 2018 and is worth less than half depending on the valuer.

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134869


Interestingly, a WhatCar valuation seems to be more in line with my expectations but obviously it will depend on the actual condition of the car in question.

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Cheers..
 

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Hi Matty,

Speaking to a dealer principle recently, the general assumption is that trade in and private value for used cars will literally hit rock bottom due to the collapse in demand. However it is anticipated that these prices will stabilise within 6 months. Hope this provides some reassurance to the insured value that is predicted above.

Kind regards,

Mark.
 

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Discussion Starter #3
Hi Matty,

Speaking to a dealer principle recently, the general assumption is that trade in and private value for used cars will literally hit rock bottom due to the collapse in demand. However it is anticipated that these prices will stabilise within 6 months. Hope this provides some reassurance to the insured value that is predicted above.

Kind regards,

Mark.
Thanks for the info

Cheers..
 

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Speaking to a garage owner (repair not sales) yesterday in the que at the bakers, we were debating how many dealers would go bust with high end dealers loosing a minimum of £500/m for every used car sat on the forecourt
 

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Discussion Starter #5
Speaking to a garage owner (repair not sales) yesterday in the que at the bakers, we were debating how many dealers would go bust with high end dealers loosing a minimum of £500/m for every used car sat on the forecourt
It's interesting that you mention the dealer as the owner of Summit garage (Dudley) Ltd was recently on local BBC news regarding the Covid-19 pandemic:


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