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Buying a used car in December could save you the cost of Christmas!Back

MoneyCAP Automotive advise buyers that purchasing a used car in December could save them the cost of Christmas!

According to car price analysis conducted by independent experts on car and motoring costs, CAP Automotive, buying a car in December rather than waiting until January could save the average buyer more than £500.

December is renowned for being a quieter period for used car sales whilst buyers wait for the January sales, but the drop in demand has an impact on used car prices, so if you’re a savvy car buyer you can cash in on some excellent deals on the forecourts.

Research conducted by CAP on how used car prices change when buying in December as opposed to January, found that if you purchase a car right now, it could be a smart way to save some cash and even save you the cost of Christmas.

The Money Advisory Service 2013 Christmas Survey found that adults spend an average £487 celebrating Christmas. So, CAP researched used car price changes over the Christmas period to find cars that were valued at £500 less in December 2013 than in January 2014.

Results revealed that snapping up a used car before Christmas could save motorists enough to celebrate Christmas for free, with some of the

CAP’s retail & consumer specialist, Philip Nothard, said: “For many of us the idea of spending more money in December might be particularly unappealing, but the CAP figures show that it can offer some genuine savings in the long term if it’s a car you’re after.

‘The influence of what we call ‘seasonality’ may already be familiar to the more savvy of consumers. Some take advantage of it by purchasing their four-wheel-drive in the height of summer and sell it again when others are contemplating how they’ll get through another snow-bound winter. Another trick is buying a good old ‘rag-top’ when it’s cold and wet, rather than when demand shoots up with the approach of spring.

“The trick is to go against the trend and buy when other people aren’t looking for the same thing – and that means December can be a brilliant time to change your car.

Neil Addley, managing director at TrustedDealers.co.uk said: “ A lot of dealers want to get their stock down in December so it makes for a great month for bargain hunters. With finance really cheap, there really hasn’t ever been a better time to buy a used car.”

Before you consider buying a second-hand car from Trusteddealers.co.uk or any other reputable franchised dealer, remember to do your homework. You can take a look at what the latest car values are using CAP’s free online valuation tool.

 

Posted by Leana Kell on 10/12/2014