You may have heard people saying that now is a great time to buy a car. If you are hearing this from people selling a car, we would understand you may feel a little cynical. However, once you start to hear this from independent journalist and money experts – you understandably start to sit up and take notice.
Discounts on new cars, make some new cars unbeatable value. “If ever there was a time to purchase a new car it is now, it is a sale of the century”, said AA president Edmund King. Used cars, are seeing a huge uplift in sales, as consumers switch on to available bargains. Used car prices are very competitive at the moment with dealers pulling out all the stops to generate sales.
The wider picture also shows interest rates reduced, questioning why you should be saving your money. More importantly this has had an impact on many peoples mortgage payments, leaving more money to play with at the end of each month. For those with good credit references loans are available and the deals are good. On top of this many insurance firms have discounted premiums that can assist with the overall cost of your next car. The VAT cut may not make much difference when you buy a loaf, but could have a very positive impact when buying a car.