Having recently returned from a well earned break with the family I was raring to get back to business this week and, after the initial first day blues, I have been as busy as ever contacting my ‘sources’ for an update. Traditionally August, since it became the month for new registration change some years ago, has been a funny month. Nowadays with it being the month before the second plate change of the year, and with a lot of people taking their summer holiday, it can be quiet but there is still generally a bit of activity with customers ordering new cars for September. Used car sales can be a bit hit and miss and some dealers are saying that trade is brisk and they need more stock and others are saying that it has been the best time to get away and have been removing the tumbleweed from outside the doors.
The interesting fact this year is that many dealers will find that their September order bank has been buoyed by the ongoing success of scrappage with some announcing that scrappage deals account to more than 60% of their order take so far.
Good news for buyers trading in old cars for new is that the valuation guides, so we are led to believe, are set to continue to rise which appears to be at odds with the demand that many retailers are experiencing in used car enquiries. However if a customer has a good quality, low mileage part-exchange in retailable condition they should expect to get top dollar for it as well as a great deal on a new car.
It will also be a good time to lookout for finance deals as the competition for new registrations hots up. Not so sure about the 0% deals but if you are thinking of buying a new car it is best to do the research in terms of availability now to ensure you can get the model you want but do the negotiating much nearer the end of September when targets need to be met and the deals generally get a whole lot better.