Jako999
Posts: 9
Joined: Wed Feb 26, 2020 9:33 am

To cancel or not

Wed Mar 25, 2020 3:03 pm

Should I cancel my order? My new i3s has only been on order for a couple of weeks now and now that all the factories are closed and the dealers will be by the end of this week the delivery is likely to be extended to around 8 months. By then there are going to be lots of very cheap car’s around, there are a lot of people out there who have cars on finance and pcp that will be sending them back when they stop earning any money or are cut to 80% after all a lot of people run at around a 120% wage because they rely on overtime and bonuses.

No one knows what is going to happen but an article I read said that the global recession that will follow coved -19 could cause house prices to drop 25% so I would think cars would be the same to just shift them that means a 2 year old i3s would only be around 20k

What to do?

vreihen
Posts: 300
Joined: Tue Apr 30, 2019 4:55 pm
Location: Orange County, NY (FN21vm)

Re: To cancel or not

Wed Mar 25, 2020 4:45 pm

If we only had a crystal ball...

Back in 2008, I bought a two year-old used diesel pickup for $19K. This was at the peak of the oil/housing bubbles, and the original owner paid $43K for it brand new. Dealerships were piling up almost new trucks like this on storage lots because nobody wanted them facing $5.00+ per gallon gas. I bet that fuel prices would drop, and I won. Eleven years and 108K miles later, and the blue book is still $16K on it. Maybe I was just lucky, but I drove that truck daily for 11 years and it only cost me $3,000 if I sell it today.....
2015 BMW i3 BEV, Giga World, Tech and Driving Assistant packages, 15K miles

Jako999
Posts: 9
Joined: Wed Feb 26, 2020 9:33 am

Re: To cancel or not

Fri Mar 27, 2020 8:12 am

That’s great well done. This is what I am thinking the used market will soon start to drop as no one can go and view cars and now most of the main dealer have shut there are no more new orders so when they reopen in ? 3 months time they will be desperate for sales. I know this sounds bad but I may as well take advantage of the situation after all I’m a paramedic so I think I deserve a bit of a bonus :D :D

We were due to holiday in Florida in the middle of June for a month so depressed at the moment because that’s not going to happen but still there are people far worse off out ther.

Thanks

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