Well it looks like the surge is well and truly on. Talking to colleagues up and down the country, not only are they experiencing increased retail demand but they’re beginning to find it harder to source stock at auction and the prices are certainly strengthening.
As predicted last year and apart from the early weather blip, the lead times for new cars across many brands is beginning to cause supply problems. In some cases just ordering a standard car can mean a three month wait with some brands.
This will inevitably lead to buyers being encouraged to go for a used option and this in turn will keep prices at a premium.
So customers who bought before the new year, or during the sale weeks just after, will have probably got a car at as good a value as it is likely to be all year.
Apart from being chilled to the bone at some auctions this week, and thank god for hot soup, it became clear that cars from any price range with any kind of pedigree were making at least CAP clean.
Remember the CAP guide is what most auctions use to gauge the values of the cars that go through and “CAP clean” is the top price for a particular car and should fit the following criteria;
Ready to retail requiring little or no refurbishment.
Mechanically sound .
Current MOT .
“Acceptable” manufacturers colour and trim combination (i.e. popular).
Clean interior in original condition and free from damage.
All documentation available and in order including spare keys and security codes.
Full service history.
Of course how many of these boxes are actually ticked in a seller’s market is debatable.
Car buyers should therefore ensure they get a good feel for what their car is worth before agreeing a deal, because if you are paying top dollar then you should get the same for your trade-in.