Whatever you do, do it quickly!
I often get asked about the state of the car market. Many
people assume that a poor economy means the car industry is struggling and the
streets must be littered with incredible bargain motors.
Although there are some stunning deals on new cars, as I suggested in
March (click here to see), used car
values are mostly rising. While the car dealers were having difficulties at the end of 2008
in SELLING cars, now their biggest problem is in BUYING cars for their stock.
And the cars that the dealers do buy cost them a lot of money (in many cases £1,000s above the
suggested guide price) and then sell very quickly indeed.
THIS DOES NOT HELP THE CAR BUYER!
Not only are the discounts that were being offered a few months back no longer
available but the good cars sell very quickly. So, if you are looking for a used car at present,
the best piece of advice I can give you is - act fast!
ASH'S TOP TIPS ON HOW NOT TO MISS OUT:
1) Set aside some particular time to do your research and make calls. Ideally this should
be done on the same day.
2) Once you have your eye on a car, don't delay! Go and see it as soon as you can, within 24
hours if possible. (Also, call the seller before you set off to doublecheck that the car is
3) Act interested. This may weaken your negotiating power a little, but I have managed to beat
off quite a few other potential car buyers recently just by being enthusiastic.
4) Leave a deposit or pay quickly. Once you have found the car you want, make sure to leave some
money (securely, of course) so that it is definitely yours. It is best to do this via Credit Card
just in case there are any disagreements further down the line, as you can usually get the money
back from the Card provider.
How long this situation will last is unknown, however I suspect that it will still be a seller's
market for another 9 months or so...
May speed be on your side
(Founder & Owner)
OF THE WEEK
"I would like a Volvo convertible, but it must have an automatic gearbox, diesel engine, light
leather interior, heated seats, etc, etc..."
How much it should have cost:
Glass's Guide = £23,850
We bought it for = £21,000!
WHY I LOVE THE...
One of the best looking saloon cars of the 1960s... and yes, it's
a Volvo! Amazingly reliable, this is one of the few classic cars you can drive every day. At age
18, my very first car was one of these gorgeous machines. The car in the photo was my second Amazon, 'done up like a
Christmas tree' - hey, it was all the rage at the time!