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 still available.)
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)