Used car prices starting to heat up

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Well things are really heating up out there. Despite there being an awful lot of doom and gloom car dealers are generally reporting some truly great numbers.

One sales manager has described this month as the success that January could and should have been, with many dealers in the worst hit areas saying that the bad weather in January may have cost them two weeks’ worth of business which means many lost sales and workshop hours.

With the upturn and lack of large volumes of stock of course come higher prices and if you were lucky enough to buy a car during the New Year promotions you have certainly done the right thing.

According to many dealers the wholesale prices are rising so therefore it cannot be too long before these price hikes are passed onto customers.

There appears to be much keener consumer interest in the more highly specified cars – the one’s with more ’toys’ – which are usually more individually priced than the more basic models which buyers can generally compare on price.

As we often point out buyers must be prepared to ensure they are getting good value for their existing cars as many auction vendors are making large profits out of unwanted part exchange stock.

Remember those profits could be on your old car which could, in turn, have meant a bigger discount off the car you have just bought.

The moral of the story? Don’t be afraid to ask.

What’s the worst that can happen?