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Started by col2001 on Jun 1, 2020 6:50:09 AM
Covid Economics

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col2001 - 01 Jun 2020 06:50:57 (#1 of 282)

I thought it might be useful to have a thread for the money-side of Covid 19.

col2001 - 01 Jun 2020 06:52:07 (#2 of 282)

'We can't afford it'... 'We must pay off the national debt'

I can just hear it.

machiavelli - 01 Jun 2020 06:58:15 (#3 of 282)

We will pay. No matter what we say.

RosyLovelady - 01 Jun 2020 07:17:27 (#4 of 282)

The free market will sort everything out, and Universal Credit shows what compassionate conservatism means.

xDiggy - 01 Jun 2020 08:10:43 (#5 of 282)

It's all fucked. End of thread.

machiavelli - 01 Jun 2020 08:14:14 (#6 of 282)

A friend who works for the DofE was told by bosses that there will be cutbacks, job losses and tax rises to pay for it all.

Moschops - 01 Jun 2020 08:16:41 (#7 of 282)

I'm hoping I'll be able to pick up a cheap car

machiavelli - 01 Jun 2020 08:18:27 (#8 of 282)

If you can actually pick it up, it's a go-kart.

StammtischMentality - 01 Jun 2020 08:20:54 (#9 of 282)

Used cars in March 2023 are going to be pricey

Moschops - 01 Jun 2020 08:21:11 (#10 of 282)

Why?

StammtischMentality - 01 Jun 2020 08:28:08 (#11 of 282)

Loads of people buy them new on 3 year deals and trade in. Most common age if second hand is 3 years. There’s goin to be a large supply issue and prices will reflect that.

Moschops - 01 Jun 2020 08:33:41 (#12 of 282)

There's tons of new cars sitting on airfields at the moment, which presumably will be included in the supply

machiavelli - 01 Jun 2020 08:42:04 (#13 of 282)

I saw an article years ago that claimed that car companies bought up secondhand cars and mothballed them on old airfields etc in order to keep the demand and price for new cars high. I don't know what the margin is on a new car but is that economically viable?

nemo75 - 01 Jun 2020 08:47:37 (#14 of 282)

Isn’t that the sort of thing that would be quite noticeable?

xDiggy - 01 Jun 2020 08:52:09 (#15 of 282)

Cars are one of those things where I've wondered about the economics for a while. Modern cars are so reliable and last so long that it's hard to see where the demand for so many millions of new ones comes from, and if you take away all the complex leasing and financing, perhaps it isn't really there.

nemo75 - 01 Jun 2020 08:54:01 (#16 of 282)

Car manufacturers seem to go around with the begging bowl every time there is an economic blip. You could well be right.

Zugunruhe1 - 01 Jun 2020 08:55:32 (#17 of 282)

Loads of people buy them new on 3 year deals and trade in. Most common age if second hand is 3 years. There’s goin to be a large supply issue and prices will reflect that.



The market is going to be swamped. There will be loads of people defaulting on their PCP payments. Same with Business Contract Hire (BCH).

nemo75 - 01 Jun 2020 08:56:38 (#18 of 282)

Wasn’t there a suggestion that car finance was the next bubble to burst?

xDiggy - 01 Jun 2020 09:00:10 (#19 of 282)

Yep.

TRaney - 01 Jun 2020 09:00:22 (#20 of 282)

Auto loans have been a predicted problem for the last five years.

They may be but there is a lot of action in trying to be able to claim you predicted the next crisis. It's good for business.

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