As we approach the “best month of the year” – the exciting change of registration month – I can’t help feeling that the 61 plates on the 1st will not be as plentiful as usual or perhaps as dealers would have hoped.
There will inevitably be some marketing drives around, inspiring buyers to buy their brand spankers but to say that dealers are nervous is somewhat of an understatement.
With all the special offers currently around we would advise potential car buyers to do their research thoroughly and hold off the purchase decision until at least half way through September and try, wherever possible, to negotiate a deal where the dealer can register the car for the month of September. This is because dealers have their targets loaded towards the big months of March and September, and if they have lots of ground to make up to achieve those targets, they will be far more likely to ‘sharpen their pencils’ if buyers indicate their willingness to conclude business as long as the deal stacks up.
The other aspect of a busy September is all the part exchanges that are generated. This should present more choice for car buyers looking at used car bargains because if dealers fall short of new car targets they will look to make up that shortfall with used cars. So again car buyers need to have a budget in mind, a narrowed down choice of what car suits their criteria and be prepared to play dealers off against each other to get the best deal available.
Lastly, even if borrowing money is not your thing, it is certainly worth remembering that it is still very much a borrowers market not a savers. There are some fantastic deals on offer and it can often be the case with some PCP deals that the monthly payment on a brand new car can be less than a year old equivalent due to higher residuals and manufacturer backed finance incentives which are only available on new cars.
Happy hunting and let’s hope that the flickers of good news filter into the car market in September and everyone ends the summer with a smile on their face.