Now is best time to buy a used car

New insight by cap hpi shows that the ideal time to buy
a used car is the
last week of October.
Record High
New vehicle registrations hit a record high in September
with official industry data showing that 469,696 vehicles were registered in
total. That’s a 1.6 per cent rise on the same month last year, and the highest
number of motor sales on
record for a September.
Optimum Time
Philip Nothard, of cap hpi, said: “High levels of
pre-registration activity, as highlighted by the busiest September on record,
is putting pressure on cash flows. The fact that 100,000 registrations
took place in just one day at the end of September shows that the market
undoubtedly included a significant number of dealer registrations.
“This means that in the period after a flurry of activity
there is an optimum time for consumers to snap up a used car bargain, which is
effectively now. There is evidence that trade values are beginning to show
signs of easing, as increased volumes and softer demand tips to ‘supply and
demand’ balance.”
Buyers Market
According to Philip Nothard, a combination of other factors
make it a buyers’ market at the moment, including the cost of retail adverts
starting to rise, stock levels increasing, and a degree of uncertainty about
2017.
He concluded: “Although it’s too premature to be fully accurate after the boom of September, early signs indicate declined footfall and online activity, which could spell good news for consumers looking to purchase a bargain.