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There's no better time to snap up a good deal
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27 January 2012
So - you promised yourself a new car this year; now you just have to do your homework and choose which one to go for. Earlier this month we reported how Glass's Guide - the experts on used car prices - revealed the cars that best held their value in 2011. Overall winner was the rugged Toyota Landcruiser.
Now Glass's has come back with more useful advice, this time about when is best to buy new and used cars and - guess what - it's right now; January, so you'd better move quickly...
According to Glass's, most consumers are still feeling the pinch after Christmas and, having spent considerable sums of money on the high street, are not concentrated on the forecourt. They don't tend to come out of hibernation until early spring.
It means that January - a traditionally quiet period for car sales - can be the perfect time to look for a good deal; it's when the dealers are most likely to welcome you with open arms, putting you in a stronger position than usual.
The only exception to this rule is for those looking to buy a used 4x4, as after three consecutive white winters what they call "snowproof" vehicles are in higher demand.
Conversely, those considering buying a convertible model for this summer should act quickly as the savings could be considerable.
Prices for convertible models peak in summer but demand is very low in winter when thoughts of driving along sunny lanes with the roof down are far from mind, so bargains for "drop-tops" are plentiful. In fact, says Glass's, 2012 as a whole is set to be a good year for motorists to bag a superb deal.
Given that the retail demand for new cars is not expected to see any recovery this year, it is likely that "pre-registration" activity will continue to be an enduring feature of the market again.
Many cars are often "pre-registered" by dealers to boost overall sales figures, meaning there could be some fantastic deals on "as-new" cars that will technically be second-hand but are likely to have only a few hundred miles on the clock and no previous owners. Look around for pre-registered models to save thousands on an "as new" car.
Glass's analysis shows that in the past two years, many buyers have been forced to downgrade to cheaper vehicles, gravitating towards cars of three or more years old. High demand in this sector means prices are set to remain fairly stable, and "runarounds" of five or six years or older and priced under £5,000 are likely to fare even better.
Overall, the number of used car sales is predicted to be in line with last year, which will be around 6.6 to 6.8 million. The data also reveals that used car purchases are not just about the headline price, with buyers increasingly interested in fuel efficiency and running costs, due to the economic climate.
This will hold true for a wide range of budgets, be it £5,000 or £25,000. So the more fuel-efficient models are expected to become more popular in 2012, especially as fuel prices continue their upward climb.
Be frugal and your car should be worth more than a powerful, gas-guzzling model after a year or two. It will make it easier to live with.
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