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MOTORISTS URGED TO BUY SECOND-HAND CARS NOW AS ‘BELOW COST SELLING’ TREND CONTINUES

Car history check website Motorcheck.ie is advising would be used-car buyers to act quickly in order to avail of some unprecedented value within the second-hand car market. Plummeting new car sales coupled together with a deteriorating economic climate have resulted in car prices on garage forecourts being slashed as dealers have begun adopting the practice of ‘below cost selling’ in order to shift old stock before the January rush of new car orders. As a result there are currently numerous bargains to be had at dealerships around the country.

New car sales were down 34% from August to September 2008 as recorded by SIMI (The Society of the Irish Motor Industry) with 5,252 new registrations in August compared to just 3,458 in September. This drop represents an emerging trend in the motoring industry whereby buyers are becoming more financially astute and as a result are prepared to opt for more economically priced cars. This tied together with the continued strength of the second-hand car market - 65,485 sales in September 2008 compared to 61,179 in August 2008 - means that car dealers are becoming ever more competitive within the used-car market.

Shane Teskey, director of Motorcheck.ie, is urging consumers to strike while the iron is hot: “Right now it’s a buyer’s market with these important economic factors forcing car dealerships to sell vehicles for less than they would have initially paid for them. If anyone is thinking of changing their car within the next six months, buy now while prices are ultra-competitive and choices plentiful.”

With this emerging trend favouring second-hand cars it has never been more important to research your purchase and be 100% sure that what you are buying is indeed the genuine article as there can be a certain amount of ambiguity surrounding used cars. Teskey advises potential buyers: “With the increased strength within the second-hand car market, comes also an increased risk. Indeed some vehicles may have had their mileage adjusted, have finance owing on them or may even have previously been involved in a collision.”

Teskey also offers a practical solution which will help to put motorists’ minds at rest:
“Prospective buyers can easily checkout a potential purchase on www.motorcheck.ie and see if it is in fact the same product they thought it was. The process is straightforward, cost-effective and could end up saving used-car buyers from making a big mistake”