Is now the best time to grab a used car bargain?
If you’ve been thinking of buying a used car for a while, now could be the best time to bag one.
With car dealership doors reopening on 12th April, several used car experts are predicting that prices could soar, with demand up as customers flock back in person.
Pent-up demand
Demand for used cars fell 22.1% year-on-year in November, as the UK went back into lockdown, according to data from Indicata.
Speaking to Car Dealer magazine, Derren Martin, head of valuations at Cap HPI said: “It’s a good time to buy a used car for the trade and for consumers.
“I think prices are going to go up once April 12 comes around and I would be out there looking to buy now.
“I certainly wouldn’t be holding back buying at the moment and think it’s a good time to buy. Especially if people are looking in the short term because I think prices will go up.”
Most dealers are selling at about 65% of their normal levels, which means around 35% of the typical buyers between January and April could suddenly be looking for a car, Mr Martin added.
Buying a car online
Even though dealerships are currently closed, you can book virtual appointments which include a live viewing.
If you go ahead with purchasing a used car, you can usually have it delivered straight to your front door or, if you’re too excited, opt for click and collect.
Always check what service the dealership you’re using offers – and make sure you continue to follow NHS guidelines when your car is delivered, or you go to collect it.
And remember, now the UK has left the EU your consumer rights might have changed if you buy online from a company based in the EU – so always do your homework first.
If you’ve got your eye on a motor, read 1st CENTRAL’s guide to buying a used car.
