News

The Irish used car market has been hit badly with latest figures for July 2008 revealing a 16% drop in sales compared to the same period last year.  This latest data compiled by Car History Check website, Motorcheck.ie reveals that 85,181 used cars were sold in Ireland in July of 2007. That figure has dropped to 71,813 for the same period in 2008.

Shane Teskey, Director of Motorcheck.ie says a major increase in UK imports is largely to blame for the significant drop.  “9% of second hand car sales in July 2007 (7,980 cars) were imports.  That figure has practically doubled to 17% (12,522 cars) for the same period one year on.”
 
Teskey says the introduction of new VRT bands for vehicles being registered in Ireland for the first time (i.e. New Cars and Used Imports) has encouraged used car buyers to look to the UK for cheaper cars. “UK imports are up where the car in question now benefits from the lower rate of VRT against its Irish equivalent.”
 
Furthermore UK Sterling is at an all time low and this combined pressure from the UK has pushed up the level of imports and is damaging the Irish used car market. Teskey however points out that these latest statistics in fact bode extremely well for motorists wishing to buy a used car from an Irish source.  “The value on used cars in this country is better than ever as prices have had to fall to see off the UK competition.  This, added to the slump in used car sales means would-be used car buyers can negotiate very attractive deals in Ireland.”
Teskey says motorists should not be put off by the price advertised on used cars in Ireland: “As is the nature with used car sales in this country, there is always room for negotiation and often very significant negotiation.  Irish car buyers should shop around, investigate and discover the best deals out there before rushing off to the UK. Purchasing a Motorcheck report before you start negotiations can be a powerful ally as it will give you the full history of the used car. If the report shows that the road tax has expired or the NCT is not current it’s much easier to strike a bargain’.
 
“Remember there are a lot of other expenses associated with importing cars, not least the travel and import costs.  Meanwhile, in a lot of cases buyers don’t get to see the car first hand before spending a great deal of time and money and this in itself could prove a financial risk.”
Teskey says buyers could be led to believe there is a better deal in the UK with UK dealers  directly targeting the Irish market to make importing a car look very simple and attractive.  According to Motorcheck.ie, a London based vehicle dealership now has 4010 cars marketed specifically at Irish customers and also has a section dedicated to ‘How to import your car’.
Teskey says if Irish buyers do get a quote for a second hand car in the UK, they should immediately take that quote to their local dealer.  “Give your local dealer a chance to match or come close to the price on a similar car, it will be a lot cheaper in the long term, especially if you’re trying to repair or trade-in a UK car in the future without the benefit of a local warranty or the dealer’s goodwill. In a time of recession we should be looking for value at home and trying to keep as much money in the local economy rather than sending it out.”