Deals on wheels as used values fall
09:00 01 November 2015
With Christmas approaching, the end of year slowdown is starting to have an effect on the used market with most values down 2-3%. So, if you’re looking to change your car for a new used model now is a good time to seek out an attractive deal.
Gavin Amos, head of valuation services at My Car Check Trade, said: “The clocks going back usually marks the start of a steady decline in used car sales in the run-up to Christmas. Especially compared to the artificial spike caused by September’s new registration plate, activity really dwindles during October. We have reduced most car values by 2-3% for November, with only super strong performers, such as Range Rover Evoque and Audi Q5, holding their ground.”
My Car Check Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, it can highlight the most significant trends in the UK used car market.
“Switched-on dealerships take advantage of the steadier footfall by going the extra mile for existing customers and prospects, for example, by delivering cars for people to test drive, and by speaking to service and repair customers about the benefits of switching vehicle. Sitting back and waiting for orders is no longer the norm.
“Unlike virtually all other sectors, 4x4 values always strengthen through autumn and over the winter period. Main dealer forecourts look noticeably more crowded with clean 4x4 stock up to eight or nine years old. We recently saw one main dealer offering a mint condition 57 plate Range Rover.
“Rare as they may be, dealers certainly shouldn’t be overlooking these profit opportunities. Properly prepared, with warranty for peace of mind, such vehicles are also great news for used buyers on a limited budget.
“At the other end of the spectrum, we are seeing an abundance of pre-registered vehicles. It is no surprise as we approach the end of the year, having just had the latter of the two new plates. The lack of clarity continues as to how many units manufacturers have pre-registered, but this year seems worse than ever.
“Some dealerships are saturated with pre-reg and ex-demo cars which limit profit, drag away new car buyers and hinder the ‘real’ used car operation.”
My Car Check Trade provides buyers and sellers with all the vehicle price data they need by entering the registration and mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost.