I have just today, (not quite on Impulse) but result of an offer of £200 less than I paid for the car 19 months ago new, and a £1750 PCP contribution towards a new car plus 2 years free services...and a spare wheel kit, full size with tyre and tool kit.

Who knows what the future value will be? the money reurned from my old car will pay off the PCP within 14 days of purchase.

It's a Stonic 2, and the net cost to change (after paying the PCP off is about £750.

So, new tyres etc etc, and I quite LIKED the lane Keep assist on the test drive.

Dealer put trade plates on it, gave me the keys and said "Off you go"

Collecting next Tuesday. Stonic 2 t-GDI isg

You're handing back the Sportage to get a (smaller) Stonic? I thought you really liked the former?

I was in a meeting with the senior leadership team of a very large UK car retailer recently.

They have been around decades, but the uncertainty as to the future of the car business was palpable, both short term and long term.

Some issues putting pressure on sales:

Covid and end of furlough

Changes to businesses. Fewer companies buying cars for execs to drive to meetings everywhere. Online meetings will now become more common.

More working from home, lower annual mileage, less desire to change cars

More end of PCP purchases, rather than upgrade, due to lower mileages and GFV being less than the value of the car.

Brokers and online purchasing mean fewer visitors to "glass palaces" to kick tyres. Why have them? (Look at Tesla as an example). Pricing is now so transparent spending hours negotiating a price is no longer what buyers want.

Brexit impacts.

Chip shortage

EVs. Uncertainty as to whether 2030 is set in stone, charging infrastructure and standardisation are far from agreed.

They believe EVs are far too expensive for mass market and they are still early adopter 'toys'. If there isn't a huge increase in more affordable models in the next 5 years they anticipate huge demand for petrol cars as 2030 looms. (None of them drove an EV!).

Impact on servicing once EVs becomes a mature market, Vehicles will report problems remotely, be updated remotely and flag up maintenance when required, not on mileage. That could be years between work needimg to be done.

This was in just a single one hour meeting! If those right in the middle of all this, with contacts with all major manufacturers, have these concerns what chance do we have of guessing where we will be in 3 years!?

I have just today, (not quite on Impulse) but result of an offer of £200 less than I paid for the car 19 months ago new, and a £1750 PCP contribution towards a new car plus 2 years free services...and a spare wheel kit, full size with tyre and tool kit.

Wow - enjoy your new car. Strange times - seem to remember when you bought the MG you were buying as a keeper. Two replacements in as many years - good going!

I've had the opposite experience Covid/working from home followed by retirement (sort of) has rather extended the life of my 2014 Superb - the number of miles I do annually since March 2020 has dropped off a cliff.

Myself - I've never been a fan of a PCP - I've usually bought cheap end of model cars new/nearly new, keep a long time and then throw away (nearly) to cope with decades of long commutes. However now my circumstances have changed......

Edited by Big John on 21/09/2021 at 21:57

I view PCP as long term rental rather than purchase.

Even you make final payment to own the car outright, until then the car was a rental. Also, by making final payment you have paid full list price of the car.

But if you buy 1-yr old car it is still nearly new and already suffered depreciation which is borne by previous owner.

Now if someone is happy with long term rental then fine because everyone's need or want is different.

I expect widescale rampant inflation. The Government needs to spend lots of money on fixing the things it did wrong/did not do 10 years ago. It will (continue to) print money.

Meanwhile wages are rising and as new exploration has been cut, petrol and oil prices to go through the roof.

I have fixed my energy prices for 3 years..(I can always exit at £60 penalty if i am wrong) and so far am 25% cheaper than current prices.

I recall the 1970s - today has an eerie familiarity.

(economists denying inflation will happen and having to revise forecasts as they got it wrong. They always get it wrong when trends change)

"""I expect widescale rampant inflation. The Government needs to spend lots of money on fixing the things it did wrong/did not do 10 years ago. It will (continue to) print money"""

All this scare mongering, things will be fine.They have started to sell super nourishing locusts in the supermarkets so if we turn into a third world economy we will soon get used to a lower standard of living. What this has to do with PCP I do not know, but I would leave any car in the showroom at the moment, the price rises of some 20% or more in just a few months is just not on and something has got to give.

Is there a new car shortage? The Ford dealer where I live has a forecourt full of new Pumas ,Ecosport and others not yet plated