I’ve just had an interesting chat with a well-known supercar trader. A chap who you might think would be slashing his wrists right now.
“People think that it’s all doom and gloom but it’s not the case,” he told me. “There’s never been a better time to buy a supercar and everyone loves a deal.”
So business is booming for my contact, despite his chilling fact that used luxury car prices are currently 30-40 per cent down from 12 months ago.
So what’s the outcome? “Nothing for it. New car prices are going to have to come down because new buyers can’t put up with these levels of depreciation.”
So maybe the credit crunch does have a bright side.