You know what? There is a distinct feeling in the trade that the current slowdown is but a mere blip. Now this may come as some surprise given the fact that misery loves company and a bit of a downturn can spiral into doom, gloom and catastrophe before you’ve finished your first cup of tea. But the truth is If dealers have not taken advantage of the recent cheaper prices by the end of this month, they will pay even more sooner than might expect.
All the indicators are that certain leasing, rental and other wholesale suppliers have to honour banking covenants, and because of this there will be a short term need to put cash back in their business, leading to a short window whereby trade buyers can take advantage if they have the cash of some competitive deals.
In the long term car dealers are looking towards 2010 already, and trying to meet the changing needs of their customers going forward. It will not necessarily be just about price but will certainly be about a great all round package and the full silver service.
The customer is king will be the buzz word of car dealers (and if it isn’t then it certainly should be) as the competition for sales heats up in a diminishing market place.
A small seasonal tip for any buyer at present though is if you have set yourself to buy a convertible next year and are looking to the spring to do so, don’t! If you can afford it buy now. This really is one car (and we’re talking about almost all types of drop top) that values have really taken an absolute kicking. Of course they nearly always do but this year they could be potentially up to £5k less now than at peak times, and with the modern convertibles either being available in hard top form or being a genuine coupe convertible they are much easier to bear when the sun isn’t shining.
Think how good it will feel seeing a similar car next spring on some dealer’s forecourt at a much higher price than the clever buyer who buys now.
Remember for a short time only this year the buyer is king!