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Doh! Just bought a new car. Should have waited: what's the betting the tightened credit crunch will now lead to some juicy showroom deals?
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Cheap finance may be a thing of the past, so cash buyers may have a strong hand, but who buys new cars for cash?
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People who've got a personal loan from the bank! :-)
No seriously, there are quite a few cash buyers out there, but mostly older people like who have invested and like to cash in now and again.
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I always buy cars from saved money. Old fashioned attitude I know, but my "Calvinesque" upbringing has instilled a huge dread of debt. Also it would break my heart to finance with a loan something which decreases in value. Again I know there will be those who say that if the deal's right it would be better to use finance but I just like knowing that my cars are paid for. Probably why I have such a "patinated" car !
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Just wait for dealers to start going bust. Christmas when cash is tight is favourite.. or rather Jab/Feb.
Despite that nice Mr Darling telling us we can have our cake and eat it despite it being mortgaged to the hilt, there are an awful lot of people with fixed rate mortgages due to have new rates set in the next 12 months. And the new rates will of course be higher. And with oil at $108 per barrel £1.25 /litre looks likely .. or more..
And so on.
When consumers stop spending, it's often like hitting a brick wall. They all stop at once. Bang!
What that does to Gov't budgets and tax receipts is ... well not very nice.
the longer you wait the cheaper...
Of course the pound is nose diving cos other people are smarter as well and can see it. So imported cars will go UP in price..
You pays yer money...
As for petrol cars 1 year old above 2 litres capacity, there will probably be a glut.. eventually.
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I'll wait a while for my Jag then !
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I'll wait a while for my Jag then !
Tell you what, the "old" S-types are looking very affordable all of a sudden. I was messing around on Autotrader earlier this evening and even newish diesel ones were starting to look very reasonable.
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The new tax regime both car ,company,and personal will devalue some cars to a point of being almost worthless,using germany as an example punative taxes have put older 4x4 on the same par as chichen teeth they have disappeared of the second hand car market.Having to pay £270 tax for a mondeo is nothing for a company but a three year old one when it comes of lease is not the car joe public will be looking for.I think all vehicles with co2 with 150 or below will be the winners and anything above will become a little dusty in the second hand car mart.
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