New vehicle registrations in November down on 2007.
New vehicle registrations in November were 36.8% lower than in winter 2007, according to the Society of Motor Manufacturers and Traders. December's figures, out this week, are expected to reveal further declines. This is fantastic news for consumers.
Traders are using elaborate tactics to tempt buyers. There are price reductions, multi-day test drives, and 'buy one get one free' deals. 'Free Ferrari with your Fiesta, Sir?' The power is with consumers, as independent dealer Mark Samson explained.
'People are reluctant to change their cars. At the end of the day, my stock just sits there depreciating - it's better to sell cheap than sell nothing.'
In addition to the economic downturn, traders are struggling with the 'winter slow period' before the weather improves and '09' registrations appear. Now is the time to act, before traders return to their usual 'hard nosed' tactics. So, where do we start?
Start by deciding which vehicle suits your lifestyle. Establish it's value, look for defects, and check the documentation. Once satisfied, tell the trader you will buy today – but only for the right deal. Haggle hard, stay calm, and carefully consider the offer. 'Buy one get one free' sounds great, but are you paying too much for car one? So, grab your chance while dealers are weak - grab a bargain.
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