But if you’re in a position where panic about car prices is a thing, then you’re in a stupid position. Unless you have PLENTY of money, cars are not sound investments for the sake of pure investment.
@@tomnutting3836 yeah, cars are bad investments unless you have so much money you can buy all the limited editions and models produced in very small numbers and then just have them sit in your giant garage. The last two years have been idiotic. Every fool and their doggy seem to think that anything slightly sporty with a combustion engine will go up in value. Imagine how daft you have to be to pay a premium on a C8 Corvette or one of the recent Mustang models. Holy crap. These. will. not. appreciate. But what do I care... idiots will be idiots. I'm a designer and I buy cars from a designer's perspective and that's a good perspective when it comes to hunting down models that will be "the next big thing". Like the R129 Mercedes SL. That car does have a strong design. Might not be apparent right away, but look closer at its proportions. Everything on that car is the exact right size, the perfect length, the perfect width, in relation to all other elements. That's an incredible feat. (even though I don't like the shape of the side mirrors and the shape of a few random elements... they all have the perfect size and they're all in the perfect spot) The R129 is one of the few models you can buy right now and not be fuming in a few months. They're quite cheap at the moment and they will appreciate in the next few years. Doesn't matter if you pay 13k now, see the price drop to 11k in a few months if the thing's worth 20k in two years time.
@@tomnutting3836 Going on holiday isn’t a sound investment either. Most people buy nice cars for their enjoyment just like spending on holidays and not for investment
@@petersmith6520 missing my point massively 🤣 I’m making a comment on people who HAVE bought cars as investments… I’m a petrol head and have bought cars for enjoyment and will again in the future, I 100% support illogical car purchases when they’re for fun mate.
Really liked this episode, Serious Tony is much more compelling to listen to and the way you both listened to each other and gave each space to answer made it really informative and thoughtful. Thanks!
Tony is right the current generation has never known high interest rates, 30 years ago our 'fixed' rate mortgage was 11% !! In the old days you bought a car with a reasonable deposit and a car loan from the bank over 3 years and then the car was yours. That's why only rich people could afford BMW's and MERC's, now anyone with a few quid a month can have one . Basically reduce your expectations and don't spend what you havn't got.
Seriously! This episode has been particularly special because Tony was incredibly consultative and reasonably formal. Considering it's Tony! I thoroughly enjoyed this video.
The best advice Tony gave was “don’t watch the news.” He’s right, it’s out of date and all sensationalized. It’s another form of reality tv, why waste your time?
I ordered and paid a deposit on a Defender a year ago. I’ve been waiting so long they took off the air suspension AND THEN charged me for a price increase. They blame supply chain issues, but they’ve decided to delay my car. I agree with Tony, it is taking the p***
The man behind Kia s design language and even more so the change from horrid to really good since the mid 2000s is Peter Schreyer who already was one of the really great designers during his days at VW and Audi (responsible for the Golf 4, A2, TT, the study leading to the R8 just to name a few).
He was the designer but not the latest generation of cars i.e. post 2021. That would be SangYup Lee. Scheyer and the guy behind the N division for Hyundai (Albert Biermann) left late last year. I only know this as i am a I30N owner and there was talk amogst N owners if this spelt the end of good looking cars or the N brand as we know it.
@@azzyzaidi4393 Schreyer basically built the foundation, which was fairly non-existing and convinced the leadership of the importance of design as a core selling point. He s still around as a consultant in the background afaik but you re right that he s not directly at the helm anymore. Yet I would contribute the change and the difficult task to build up their design department to him and you can still see the design language he established in the newest cars. A task that can t be praised highly enough - especially given the different working environment/ culture and internal structures Hyundai/Kia had at the time.
When mortgages sky rocket, housing will tank and new cars simply won’t be on many households agenda. Values will fall and a lot of people will be in negative equity with cars they can not afford to run. The market correction will be chunky and car prices will return to sensible prices no more 100k BMWs and Audis.
UK has tons of ARM loans especially intrest only ARMs that are going to reset in January. Government is tryingto save bond rates by buying securities and the national bank is looking at this like. Guess we gotta raise rates even more. Absolute catastrophe coming and unfortunately even more real estate in UK is going to be bank owned as a result :(
Very interesting as usual to hear Tony’s insights into the car market. It would be great to see a video on STG of Sam at the Porsche Experience Centre with the (or a) GT3.
Tony went from being a bus driver to owning his own dealership and some epic cars (including currently a Pista we now know). And now I learn he's about 10 years younger than me. What a legend but fuck me where did I go wrong 😂
Love the video and the chat. Super informative particularly for those private buyers who believe they can make money on a car.....potentially 12 months ago yes but today and going forward it is not likely. For sure Sam, do not worry about your GT3. You can own that for 6 months, make content on the car, and still come out of the car £1000's over list as long as you keep the miles reasonable. Also, I would happily take your place at Porsche Silverstone for the experience in a GT3. Maybe one to release to your viewers? I was there last week with an RS experience, which just so happened to be the 992 GT3 RS press launch there, and always love going there! Keep up the great content 👍
Very good. I like these market based episodes. Tony is a genuine expert, he has a great instinct and he is honest. These are rare qualities in the car market.
Thing is, things WILL get worse over the next few months but I think the majority of people doesn't realize how bad things could get. We're currently sitting on a powder keg that definitely will go off. But there are about ten more kegs standing close by. The only question remaining is: how many of those will go off as well?
It's mainly monetary policy not making sense - bond values are tumbling, forcing pension funds into margin calls; so the BoE thought it would be a great idea to buy long-dated bonds out of the market to lower their supply (and in tandem, increase prices). Yet at the same time, in less than a month, the BoE is probably going to raise rates by 100bp.
All of them. They've made this clear repeatedly. The system they've forced us into doesn't work (it has always been nothing more than a glorified pyramid scheme) and they're reaching a point where they're going to have to change it, the problem is that their new vision (CBDC's and social credit system) is going utterly dystopian.
You are correct about the cost of cars outside of the UK. In Switzerland the GT3 lists at CHF 215,000 (and currently the Swiss franc is almost the same as the GBP). We do get a 'Swiss package' with most cars that provides a bundle of optional extras for free. As another example, my X5 40d was CHF 140,000 (But fully 'specced' out). Tony, if you got tires from the dealer, then expect that you paid about double, what you would have otherwise!
Understand you’re trying to evolve and implement a documentary approach with the different camera angles and focused headshots for the person that’s talking. But the whole charm and appeal of these video podcasts. Is Tony’s facial expression’s while you (Sam) is talking complete gibberish. Best to keep both of you in the shot as much as possible 🎉
Tony is spot on ..manufacturers cannot afford not to sell and interest rates will be massaged to keep cars going out the door. The unknown is how big the adjustment will be. Go back to 2008/9 and the GFC and even a Carrera GT effectively halved in price and took 10 years to recover back. This time we have a perfect storm of credit crunch, rising rates and rising living costs ..and a lot of people about to see their mortgage costs rocket. I think this adjustment will take a lot of people by surprise owing to the number of variables…
Can't say I'm bothered by it but if others are then maybe an alternative would be to upload to the temporary "shorts" section of CZcams. That way it shouldn't notify people of uploads but simultaneously be picked up into the algorithm for new viewers.
Rising interest rates (especially in the UK) MUST impact the cost of ownership given so many fancy cars are highly leveraged. Add to that the fact that many will be forced to divest some leveraged assets to reduce their exposure to the rising interest rates - too many people divesting will lead to sharply falling asset values - people have got used to super cars depreciating very slowly or in some isolated cases actually appreciating - that is about to change significantly which will change a lot the cost of financing these cars. In short sell your fancy cars now!
Tony's right, and something my first ever boss told me too (which has always stayed with me)... Whatever happens to you in life, where's there's CHANGE, there's OPPORTUNITY
It’s happening already the arse as fell out of the used car market, I only got offered £400 for my 2001 fiesta popular plus criminal it was worth £450 last year
What Tony says about the UK having relatively "cheap" car prices is so true. Here in Denmark we have very high taxes on cars, both on the purchase price and annual road tax. To give you an example a Golf GTI starts at about £73,000 here...
Simply lack of second hand cars about so prices will stay firm ! Supply and demand ! The second hand car market is mental ! Pop down any car auction and watching the bidding ! Simply to many car dealer chasing to few cars and just making the prices high between themselves ! Unless loads of car dealers go bankrupt , cazoo and cazaam joining the market when the second hand market collapsed and bca / WBAC and Marshall being such a a Manopoly on the market ! The cake is only so big , and not enough slices going round !
Off the back of this I contacted my Porsche sales exec and i was told the update via email and on my porsche no longer takes place because the updates are massively hit and miss. The example they gave was that it’d say the car was in the country when its still in Germany. I’m based in the UK for reference.
@C J B Hit the nail on the head. Our governments have made it clear that society isn't going back to how we had it. The entire EV farce plays into this, as well.
Why? Central banks will refuse to allow significant economic instability, just as they did over Covid. It’s only if supply side issues worsen or nuclear war breaks out that we’re in for a bad one.
Last week, government borrowing nearly collapsed before bank of England stepped in. US recession won't be as bad as priced in but Europe has a long hard winter to get through. And the UK, broadly more than others, will have much higher borrowing costs. Market pricing in say 5% rates in coming years at least. Lenders then need to make a profit over that and operate. The good side is that "real" assets (arguably cars in this eg) will rise in time but likely to be very volatile in the meantime (on average). Ie they won't track inflation.
It's the bank of England constantly stepping in which has partially caused this. We're kicking the can down the road with this current ponzi-scheme of fractional reserve banking. Unfortunately, the proposed CBDC system they want to bring in isn't going to be any better. They're just wanting to change one bad system to another bad one but the new one gives them even more control over consumers.
It annoys me to no end when non-specialty, non-cosmetic stuff is optional. Like, when buying a car, there’s shouldn’t be hairs to split. Just look at paint, trim, drivetrain, and whether it has stuff like a sunroof or roof racks or bull bar or whatever and pick from that. Having to decide between a car with power seats or the better sound system (bad examples) is just unnecessary and tedious. Especially when the option is wholly software (*cough* Tesla *cough*)
A lot of you people got accustomed to thinking you are entitled to either not lose money on a car or even make money on it and I am glad you are getting a reality check. 😂
Regarding Kias, you can thank Sangyup Lee (ex head of exteriors at Bentley, design lead for the 2010 Camaro), Luc Donckerwolke (ex head of Bentley design, ex head of Lamborghini and the designer of the Murcielago), and Karim Habib (Chris Bangle's successor at BMW and ex chief of design there before the big grille era)
It would be great if you did a different thumbnail art style for the clips of the podcast Ive already watched (hard to notice the hashtags), love the podcasts as usual! Keep it up!
Gents : best session I have listened to for sometime! I would love the opportunity to ask a question during recording or even pre-recording so it could bring in another persons context/perspectives
When you guys do the EV special next week. I would be very interested in the perception that they take less money and time to service which will “potentially” result in a staggering global loss of skilled labour in the car servicing market over the years to come?
The Central Bankers who gather once a month in Geneva have recently agreed that they will authorise bank "Bail Ins". Basically this means they will take money from your account to stop banks going bust. They did it before in Cyprus in 2013 when their financial institutions were close to collapse. 6.75% if you had less than €50k, 9.9% if you had more.. Once they introduce CBDC's ( Central Bank Digital Currencies) as they're planning, then the bank might decide you can't buy that lovely car you've got your eye on. All in the name of Climate Change and ESG.
Glad to see other people talking about this. CBDC's are almost certainly going to be abused in the long run. The current system isn't fit but all they're proposing is something else to benefit themselves, not us
Absolutely. The people on the telly aren’t covering this, obviously, so most people are blissfully unaware of the highest-level machinations that are occurring now to create a financial “reset”…
@@mikedstringer Yeah, the current monetary system built on debt was always going to fail eventually, and when Central Banks just keep on printing more money ad nauseum then sooner or later it will become worthless. A programmable digital currency sounds frightening though. They can basically turn it off at will if you dont comply with the agenda.
Buying a used sports car right now is financial suicide. You are paying over the odds because of inflated prices due to the global chip shortage and then to compound the matter, you risk high interest for financing the car because the interbank rate is 3.4% and then the finance companies will add their commission to it. You will be taking on credit at a non-competitive rate for a fast deprecating asset. Yes! Right now you don’t want to buy a car. Wait for the inevitable crash!
Isn't the issue about ever-increasing new car prices based on the fact that a large proportion are financed and therefore it's not £25,000 or £50,000 more.. but £100 or £200 per month more... and that doesn't feel too bad for someone who really wants it?
Right or wrong, that’s how I look at it. I budget what I can afford a month and go for the best car I can to that. I’ll no longer put big deposits down.
Great watch. X3M at 2.9% at the mo ent, was keen on the new defender until I noticed APR was 8.5%. No deal. Would like to change but don’t have to. Thankfully.
BMW couldn’t even provide me finance for my i8 when I bought it back in April, even though I proved my affordability and credit was more than sufficient, I’ve even financed cars before. So I had to finance my car through another company, it was a bit of a hassle to get it sorted.
Can you make a video everyday pls,release at say hmmmmm,6pm so I can watch instead of the bullshit that's on TV about that time, love you guys,never stop !
Another great pod cast guys and so relevant to today. Love Tony sharing the insight into car retail and how people think. Look forward to these every week and my best go to podcast 👏
UK second hand cars were always much cheaper than Europe and US until last couple of years. That may revert. Yes, rates are going up materially in UK but last 10 years has been the cheapest since 1698 when records began. The pendulum rarely rests in the middle!
Just think back. In the early 90’s, the economy crashed and the 964RS came out. Sales were down and the cars sat at dealers and the production numbers were lower than planned. Buying a high end Porsche or Italian exotic today in these difficult times, might be the best thing to do. The value on the stock market vapors into thin air. Hardware like houses and cars will not vanish and still be what they’ve always been, a nice house or a GT-something car. Nothing can take that away. When the world stabilizes down the road, these cars will be very rare and sought after like the 964RS. Buy high end when no one else does! Your money will be safe.
I love Tony as he has alot of wise words and wisdom, now I know he's not interested in the classic car market but how's the financial crisis going to affect classic car's
The US market is also getting significantly less exotics (I.e. Porsche 911) during these supply chain issues. This then gives dealers more reason to do bigger markups.
In Finland starting price of the 911 GT3 touring is 290 000£ and the starting price for GT3 RS is 390 000£. Just for reference to all of you that are complaining about high car prices. 😅
I like the shorts and I rewatched some of those bits..but please dont do teasers. especially like the one on the aventador. too long and it takes away from the podcast, imo. :)
Do you think we are going to experience the overnight price reduction by manufacturers like that which we experienced in 2009. For example I bought a new 3 series coupe in Ireland in 2008 for €56k list and the same car was discounted to €44k list by BMW in 2009. I have a sense that we are about to experience this again in the next 6 months.
Here are some reasons why I feel car prices of new/used cars could crash. Are they valid or totally out of touch with reality? I'd like to hear other people's thoughts on the queries below... - Is manufacturing becoming easier due to supply chains opening up after COVID? - Are petrol / diesel engined cars quickly gaining a stigma for their 'environmental impact'? - Will manufacturers try their best to gain back a share of the market by offering deals and pushing their EV/Hybrid cars? - Will the motivation for the last point be increased as car companies can use the cost of living crisis as a pressure point for buyers? - Are people reluctant to spend their money on frivolous purchases i.e. sports cars, classic cars, etc. due to the current economic situation? - Are sellers currently inflating the prices of their cars to do their best to cash in based on the high prices and potential burst of the bubble? - Are the prices people are asking for their cars are just asking prices, and are people aren't actually buying them?
![Best Used Sports Cars Under £20,000 [S6, E4]](http://i.ytimg.com/vi/FKKeG9U2JPA/mqdefault.jpg)
![Best Used Sports Cars Under £20,000 [S6, E4]](/img/tr.png)
![The NEW Cars To Be Most Excited About In 2023 [S6, E19]](http://i.ytimg.com/vi/IBIttZGHEx0/mqdefault.jpg)
When a dealer like Tony is advising caution, panic
But if you’re in a position where panic about car prices is a thing, then you’re in a stupid position.
Unless you have PLENTY of money, cars are not sound investments for the sake of pure investment.
@@tomnutting3836 yeah, cars are bad investments unless you have so much money you can buy all the limited editions and models produced in very small numbers and then just have them sit in your giant garage.
The last two years have been idiotic. Every fool and their doggy seem to think that anything slightly sporty with a combustion engine will go up in value.
Imagine how daft you have to be to pay a premium on a C8 Corvette or one of the recent Mustang models. Holy crap.
These. will. not. appreciate.
But what do I care... idiots will be idiots. I'm a designer and I buy cars from a designer's perspective and that's a good perspective when it comes to hunting down models that will be "the next big thing".
Like the R129 Mercedes SL. That car does have a strong design. Might not be apparent right away, but look closer at its proportions. Everything on that car is the exact right size, the perfect length, the perfect width, in relation to all other elements. That's an incredible feat.
(even though I don't like the shape of the side mirrors and the shape of a few random elements... they all have the perfect size and they're all in the perfect spot)
The R129 is one of the few models you can buy right now and not be fuming in a few months. They're quite cheap at the moment and they will appreciate in the next few years. Doesn't matter if you pay 13k now, see the price drop to 11k in a few months if the thing's worth 20k in two years time.
@@tomnutting3836 Going on holiday isn’t a sound investment either. Most people buy nice cars for their enjoyment just like spending on holidays and not for investment
@@petersmith6520 missing my point massively 🤣 I’m making a comment on people who HAVE bought cars as investments…
I’m a petrol head and have bought cars for enjoyment and will again in the future, I 100% support illogical car purchases when they’re for fun mate.
@@barbarusbloodshed6347 agreed and a cool perspective you’ve got on researching and buying enjoy ✌️
Really liked this episode, Serious Tony is much more compelling to listen to and the way you both listened to each other and gave each space to answer made it really informative and thoughtful. Thanks!
Absolutely agree with this. A really compelling, informative and thought provoking game episode.
Yeah, agree. He actually has **some** knowledge 😂
I like this format too.
Tony is right the current generation has never known high interest rates, 30 years ago our 'fixed' rate mortgage was 11% !! In the old days you bought a car with a reasonable deposit and a car loan from the bank over 3 years and then the car was yours. That's why only rich people could afford BMW's and MERC's, now anyone with a few quid a month can have one . Basically reduce your expectations and don't spend what you havn't got.
Your 100% right
Seriously! This episode has been particularly special because Tony was incredibly consultative and reasonably formal. Considering it's Tony! I thoroughly enjoyed this video.
Take a drink every time Tony says "in general".
What a drinking game that would be 😅
The best advice Tony gave was “don’t watch the news.” He’s right, it’s out of date and all sensationalized. It’s another form of reality tv, why waste your time?
Who even watches the news anymore? They lie and lie and lie and just say what they’re told to say.
I ordered and paid a deposit on a Defender a year ago. I’ve been waiting so long they took off the air suspension AND THEN charged me for a price increase. They blame supply chain issues, but they’ve decided to delay my car. I agree with Tony, it is taking the p***
The man behind Kia s design language and even more so the change from horrid to really good since the mid 2000s is Peter Schreyer who already was one of the really great designers during his days at VW and Audi (responsible for the Golf 4, A2, TT, the study leading to the R8 just to name a few).
He was the designer but not the latest generation of cars i.e. post 2021. That would be SangYup Lee. Scheyer and the guy behind the N division for Hyundai (Albert Biermann) left late last year. I only know this as i am a I30N owner and there was talk amogst N owners if this spelt the end of good looking cars or the N brand as we know it.
@@azzyzaidi4393 Schreyer basically built the foundation, which was fairly non-existing and convinced the leadership of the importance of design as a core selling point. He s still around as a consultant in the background afaik but you re right that he s not directly at the helm anymore.
Yet I would contribute the change and the difficult task to build up their design department to him and you can still see the design language he established in the newest cars. A task that can t be praised highly enough - especially given the different working environment/ culture and internal structures Hyundai/Kia had at the time.
Well done Tony..talked a lot of sense
When mortgages sky rocket, housing will tank and new cars simply won’t be on many households agenda. Values will fall and a lot of people will be in negative equity with cars they can not afford to run. The market correction will be chunky and car prices will return to sensible prices no more 100k BMWs and Audis.
I could listen to Tony for hours on this subject
UK has tons of ARM loans especially intrest only ARMs that are going to reset in January.
Government is tryingto save bond rates by buying securities and the national bank is looking at this like. Guess we gotta raise rates even more.
Absolute catastrophe coming and unfortunately even more real estate in UK is going to be bank owned as a result :(
We're in a recession now. Have been for a year. What we're heading into is a global depression that will make 2008 look like a prosperous age.
book prices have already fallen about 10% in the last month
Loving the timing of these episodes. Makes my lunch so much more enjoyable! Great work as always!
Sorry but the shorts do need to go in my opinion, You might not see it now but they're just a bad trend.
Or just upload them as actual shorts and not as usual uploads.
The market has completely had it, if you haven't already got out, it's already too late.
Very interesting as usual to hear Tony’s insights into the car market. It would be great to see a video on STG of Sam at the Porsche Experience Centre with the (or a) GT3.
Tony went from being a bus driver to owning his own dealership and some epic cars (including currently a Pista we now know). And now I learn he's about 10 years younger than me. What a legend but fuck me where did I go wrong 😂
Love the video and the chat. Super informative particularly for those private buyers who believe they can make money on a car.....potentially 12 months ago yes but today and going forward it is not likely. For sure Sam, do not worry about your GT3. You can own that for 6 months, make content on the car, and still come out of the car £1000's over list as long as you keep the miles reasonable. Also, I would happily take your place at Porsche Silverstone for the experience in a GT3. Maybe one to release to your viewers? I was there last week with an RS experience, which just so happened to be the 992 GT3 RS press launch there, and always love going there! Keep up the great content 👍
Tony was absolutely brilliant on this episode, fountain of knowledge about used cars/prices etc. most helpful🎉
Excellent podcast. Tony really knows what he's talking about.
Very good. I like these market based episodes. Tony is a genuine expert, he has a great instinct and he is honest. These are rare qualities in the car market.
We should get Tony merch where he is dressed up as a general next to a car and it says "in general" haha
Phil Collins knows his car trade 👍🏻
Thing is, things WILL get worse over the next few months but I think the majority of people doesn't realize how bad things could get.
We're currently sitting on a powder keg that definitely will go off. But there are about ten more kegs standing close by. The only question remaining is:
how many of those will go off as well?
It's mainly monetary policy not making sense - bond values are tumbling, forcing pension funds into margin calls; so the BoE thought it would be a great idea to buy long-dated bonds out of the market to lower their supply (and in tandem, increase prices). Yet at the same time, in less than a month, the BoE is probably going to raise rates by 100bp.
All of them. They've made this clear repeatedly. The system they've forced us into doesn't work (it has always been nothing more than a glorified pyramid scheme) and they're reaching a point where they're going to have to change it, the problem is that their new vision (CBDC's and social credit system) is going utterly dystopian.
There is a deliberate monetary mis-management occurring, globally.
🤣😂🤣😂🤣 The time to sell cars has passed! Exactly the same as property etc, we are now in a position of chasing a downward market.
You are correct about the cost of cars outside of the UK. In Switzerland the GT3 lists at CHF 215,000 (and currently the Swiss franc is almost the same as the GBP). We do get a 'Swiss package' with most cars that provides a bundle of optional extras for free. As another example, my X5 40d was CHF 140,000 (But fully 'specced' out). Tony, if you got tires from the dealer, then expect that you paid about double, what you would have otherwise!
Understand you’re trying to evolve and implement a documentary approach with the different camera angles and focused headshots for the person that’s talking. But the whole charm and appeal of these video podcasts. Is Tony’s facial expression’s while you (Sam) is talking complete gibberish. Best to keep both of you in the shot as much as possible 🎉
Tony is spot on ..manufacturers cannot afford not to sell and interest rates will be massaged to keep cars going out the door. The unknown is how big the adjustment will be. Go back to 2008/9 and the GFC and even a Carrera GT effectively halved in price and took 10 years to recover back. This time we have a perfect storm of credit crunch, rising rates and rising living costs ..and a lot of people about to see their mortgage costs rocket. I think this adjustment will take a lot of people by surprise owing to the number of variables…
Stop it with the short clips. Just spamming. We can use the times and find what we want anyway without new videos
Can't say I'm bothered by it but if others are then maybe an alternative would be to upload to the temporary "shorts" section of CZcams. That way it shouldn't notify people of uploads but simultaneously be picked up into the algorithm for new viewers.
Rising interest rates (especially in the UK) MUST impact the cost of ownership given so many fancy cars are highly leveraged. Add to that the fact that many will be forced to divest some leveraged assets to reduce their exposure to the rising interest rates - too many people divesting will lead to sharply falling asset values - people have got used to super cars depreciating very slowly or in some isolated cases actually appreciating - that is about to change significantly which will change a lot the cost of financing these cars. In short sell your fancy cars now!
Tony's right, and something my first ever boss told me too (which has always stayed with me)... Whatever happens to you in life, where's there's CHANGE, there's OPPORTUNITY
It’s happening already the arse as fell out of the used car market, I only got offered £400 for my 2001 fiesta popular plus criminal it was worth £450 last year
Both going for the Steve Jobs Apple look today. 😂
What Tony says about the UK having relatively "cheap" car prices is so true. Here in Denmark we have very high taxes on cars, both on the purchase price and annual road tax. To give you an example a Golf GTI starts at about £73,000 here...
😮
It's the same in the Netherlands, driving/owning a car is very expensive.
Greetings from Norway ! Same here.
Simply lack of second hand cars about so prices will stay firm !
Supply and demand ! The second hand car market is mental !
Pop down any car auction and watching the bidding !
Simply to many car dealer chasing to few cars and just making the prices high between themselves !
Unless loads of car dealers go bankrupt , cazoo and cazaam joining the market when the second hand market collapsed and bca / WBAC and Marshall being such a a Manopoly on the market ! The cake is only so big , and not enough slices going round !
My 991.2 GT3 RS was built in just over 6 hours according to Stuttgart, back in 2018.
Off the back of this I contacted my Porsche sales exec and i was told the update via email and on my porsche no longer takes place because the updates are massively hit and miss. The example they gave was that it’d say the car was in the country when its still in Germany. I’m based in the UK for reference.
I think this recession is going to be worse than is currently predicted unfortunately
Probably the worst since the 30's 😕
Its allways worse than "they predict"
@C J B Hit the nail on the head. Our governments have made it clear that society isn't going back to how we had it. The entire EV farce plays into this, as well.
hopefully more deals for me
Why? Central banks will refuse to allow significant economic instability, just as they did over Covid. It’s only if supply side issues worsen or nuclear war breaks out that we’re in for a bad one.
Last week, government borrowing nearly collapsed before bank of England stepped in. US recession won't be as bad as priced in but Europe has a long hard winter to get through. And the UK, broadly more than others, will have much higher borrowing costs. Market pricing in say 5% rates in coming years at least. Lenders then need to make a profit over that and operate. The good side is that "real" assets (arguably cars in this eg) will rise in time but likely to be very volatile in the meantime (on average). Ie they won't track inflation.
It's the bank of England constantly stepping in which has partially caused this. We're kicking the can down the road with this current ponzi-scheme of fractional reserve banking.
Unfortunately, the proposed CBDC system they want to bring in isn't going to be any better. They're just wanting to change one bad system to another bad one but the new one gives them even more control over consumers.
It annoys me to no end when non-specialty, non-cosmetic stuff is optional.
Like, when buying a car, there’s shouldn’t be hairs to split. Just look at paint, trim, drivetrain, and whether it has stuff like a sunroof or roof racks or bull bar or whatever and pick from that. Having to decide between a car with power seats or the better sound system (bad examples) is just unnecessary and tedious. Especially when the option is wholly software (*cough* Tesla *cough*)
Think of the GT3 as an investment in channel content. At the end of the day, even if you don’t make money on it, you’re unlikely to lose any money.
A lot of you people got accustomed to thinking you are entitled to either not lose money on a car or even make money on it and I am glad you are getting a reality check. 😂
Sam is nervous and was hearing everything opposite from Tony regarding economy and gt3 price in used car market.
Don't worry, all shall be good sam!
Car prices are crazy here in the usa. And tony on point stay away from news watch in double check what they say
Great video, really interesting listen. All this sensible chat from Tony, he'll be Prime Minister by Christmas....
Regarding Kias, you can thank Sangyup Lee (ex head of exteriors at Bentley, design lead for the 2010 Camaro), Luc Donckerwolke (ex head of Bentley design, ex head of Lamborghini and the designer of the Murcielago), and Karim Habib (Chris Bangle's successor at BMW and ex chief of design there before the big grille era)
It would be great if you did a different thumbnail art style for the clips of the podcast Ive already watched (hard to notice the hashtags), love the podcasts as usual! Keep it up!
Gents : best session I have listened to for sometime! I would love the opportunity to ask a question during recording or even pre-recording so it could bring in another persons context/perspectives
Tony speaks so much sense and I don’t watch the news
When you guys do the EV special next week. I would be very interested in the perception that they take less money and time to service which will “potentially” result in a staggering global loss of skilled labour in the car servicing market over the years to come?
The Central Bankers who gather once a month in Geneva have recently agreed that they will authorise bank "Bail Ins". Basically this means they will take money from your account to stop banks going bust. They did it before in Cyprus in 2013 when their financial institutions were close to collapse. 6.75% if you had less than €50k, 9.9% if you had more.. Once they introduce CBDC's ( Central Bank Digital Currencies) as they're planning, then the bank might decide you can't buy that lovely car you've got your eye on. All in the name of Climate Change and ESG.
Glad to see other people talking about this. CBDC's are almost certainly going to be abused in the long run. The current system isn't fit but all they're proposing is something else to benefit themselves, not us
Absolutely. The people on the telly aren’t covering this, obviously, so most people are blissfully unaware of the highest-level machinations that are occurring now to create a financial “reset”…
@@mikedstringer Yeah, the current monetary system built on debt was always going to fail eventually, and when Central Banks just keep on printing more money ad nauseum then sooner or later it will become worthless. A programmable digital currency sounds frightening though. They can basically turn it off at will if you dont comply with the agenda.
TV is entertainment only, they are all actors lol.
Buying a used sports car right now is financial suicide. You are paying over the odds because of inflated prices due to the global chip shortage and then to compound the matter, you risk high interest for financing the car because the interbank rate is 3.4% and then the finance companies will add their commission to it. You will be taking on credit at a non-competitive rate for a fast deprecating asset. Yes! Right now you don’t want to buy a car. Wait for the inevitable crash!
Isn't the issue about ever-increasing new car prices based on the fact that a large proportion are financed and therefore it's not £25,000 or £50,000 more.. but £100 or £200 per month more... and that doesn't feel too bad for someone who really wants it?
Right or wrong, that’s how I look at it. I budget what I can afford a month and go for the best car I can to that. I’ll no longer put big deposits down.
A GT3 at list is as safe as your money can ever be.
The F Type on the other hand (nice though).
Love having Sam's boomer dad on. Nice video. Keep up the good work.
Yep he’s always a good laugh. You can tell they’re related from the shiny bald lids!
It's only the beginning, guys.
I hope you'll recall what Tony said when you do find out what date your GT3 was manufactured 😎
Great watch. X3M at 2.9% at the mo ent, was keen on the new defender until I noticed APR was 8.5%. No deal. Would like to change but don’t have to. Thankfully.
4% interest was normal... It will all be normal again.
My first house 1977 cost 14k my current house 1ml. That's not sustainable.... Same with cars 🙃
Just freaked out as I thought it was Thursday 🙈
BMW couldn’t even provide me finance for my i8 when I bought it back in April, even though I proved my affordability and credit was more than sufficient, I’ve even financed cars before. So I had to finance my car through another company, it was a bit of a hassle to get it sorted.
Excellent podcast, Tony had some great advice and made a lot of sense. 👏👏
Can you make a video everyday pls,release at say hmmmmm,6pm so I can watch instead of the bullshit that's on TV about that time, love you guys,never stop !
Another great pod cast guys and so relevant to today. Love Tony sharing the insight into car retail and how people think. Look forward to these every week and my best go to podcast 👏
CZcamsrs and collectors are getting out of cars at the moment, more vids about big price cars going than coming.
Great podcast, real talk and entertaining at the same time. Appreciate the details. Thanks
key word "Might" The car market is highly inefficient.
UK second hand cars were always much cheaper than Europe and US until last couple
of years. That may revert. Yes, rates are going up materially in UK but last 10 years has been the cheapest since 1698 when records began. The pendulum rarely rests in the middle!
Just think back. In the early 90’s, the economy crashed and the 964RS came out. Sales were down and the cars sat at dealers and the production numbers were lower than planned. Buying a high end Porsche or Italian exotic today in these difficult times, might be the best thing to do. The value on the stock market vapors into thin air. Hardware like houses and cars will not vanish and still be what they’ve always been, a nice house or a GT-something car. Nothing can take that away. When the world stabilizes down the road, these cars will be very rare and sought after like the 964RS. Buy high end when no one else does! Your money will be safe.
Yes! Good point here. Kind of the same with well spect. 997.2 are relatively hard to come by due to the 2008 crash…
you guys give me feels of a couple with matching kit. haha great podcast as always!
@48:57 - I think 'entitled' is the word you were looking for.
Tony sees times like these as opportunities. You don't say, lol 😆
"what we need is stability" gospel....!
I love Tony as he has alot of wise words and wisdom, now I know he's not interested in the classic car market but how's the financial crisis going to affect classic car's
The US market is also getting significantly less exotics (I.e. Porsche 911) during these supply chain issues. This then gives dealers more reason to do bigger markups.
The additional markup by Porsche dealers here in the US on their GT cars is nothing less than obscene, even to long time customers.
In Finland starting price of the 911 GT3 touring is 290 000£ and the starting price for GT3 RS is 390 000£.
Just for reference to all of you that are complaining about high car prices. 😅
Best automotive podcast going!
Tony was on fire in this one.
Besides the usual problems, the Aventador was almost always unreliable too.
Great advice Tony I’ll be tuning in again
Saw the iTunes version come out yesterday but patiently waited for the video
Here Porsche has taken away PCCB completely!
I like the shorts and I rewatched some of those bits..but please dont do teasers. especially like the one on the aventador. too long and it takes away from the podcast, imo. :)
i'd sell your GT3 now if i was you
Car dealers ar going to get hammered and it's about time the days of cheap money are over.
Come on chaps - just look at Sterling vs Euro … when considering price delta to prior year list
Do you think we are going to experience the overnight price reduction by manufacturers like that which we experienced in 2009. For example I bought a new 3 series coupe in Ireland in 2008 for €56k list and the same car was discounted to €44k list by BMW in 2009. I have a sense that we are about to experience this again in the next 6 months.
Inflation plays a part but don’t discount Fforeign exchange rates driving the price changes. Weak £ sales value vs € or $ cost of manufacture.
Here are some reasons why I feel car prices of new/used cars could crash. Are they valid or totally out of touch with reality? I'd like to hear other people's thoughts on the queries below...
- Is manufacturing becoming easier due to supply chains opening up after COVID?
- Are petrol / diesel engined cars quickly gaining a stigma for their 'environmental impact'?
- Will manufacturers try their best to gain back a share of the market by offering deals and pushing their EV/Hybrid cars?
- Will the motivation for the last point be increased as car companies can use the cost of living crisis as a pressure point for buyers?
- Are people reluctant to spend their money on frivolous purchases i.e. sports cars, classic cars, etc. due to the current economic situation?
- Are sellers currently inflating the prices of their cars to do their best to cash in based on the high prices and potential burst of the bubble?
- Are the prices people are asking for their cars are just asking prices, and are people aren't actually buying them?
Great episode with honest insight into what's coming.
19:57 Sam forgets how to use the search function with is email program.
Great episode. Not a fan of the shorts Sam! Really clogs the sub box
Brilliant open and honest podcast
Great podcast!
Brilliant, one of the best!
Basically, the best part of an hour of Sam flapping about his financial commitment for his VW Porsche 😂😂
Fantastic, that second part of the podcast was brilliant. V interesting.