Great for buying..??????
I suspects much depends upon what you might consider buying and for what purpose... As I have typed elsewhere, I am no economist nor do I have a crystal ball, but with Climate change regulations ever changing, the move towards electric cars and the effects of this virus, I suspect NO ONE has any real idea of the REAL value of ANYTHING right at the moment and even less so in day, week, month or a years time, let alone the value of a car you may have little use for and for how long..unless perhaps you are a key worker who needs a car...?
Capital expenditure at this time would seem to be a very risky business, unless you are of the type who likes to gamble or thinks he has great market insight, and likes to gamble.. (-:
Imagine all those cars you ever fancied who`s current owners have some sort of payment plan involved....
I have heard of folk having to agree to all sorts of "deals" relative to their wages, 20% cut till the end of the year, others with 50% cut and the ability to cut their pension payments into the scheme, the company reducing it`s pension pay in to minimums, and so much more... talk of some airports perhaps requiring to shut down.
I suspect car payment defaults may increase and as one who overspent by a very few grand on a major house renovation circa 35 years ago, I can tell you it took me quite some time to clear the decks again, Thus with that in mind there will no doubt be quite a few folk out there who will REALLY struggle just to keep warm dry well fed and pay the bills, even with govt LOANS and freezes on payments for ..err..how long, care to guess..? Seems to me that if and when Covid is defeated, tomorrow, it will take some time to recover in terms of the general economic situation, and toilet paper will once again become freely available... sigh.
If Covid disappears overnight then I may have been typing rubbish...... as usual.. (-:
