The recession is not all bad news, that is not if you’re looking to buy a car! Industry experts have stated the best prices in 8 years are currently available. For the last three months UK car sales have continued to slump pushing dealerships to offer bigger discounts to entice buyers.
With average discounts of around £2,000 on your average family car, premium cars are offering even heavier discounts with some dealers offering £11,500 off the new Jaguar XJ at just £34,000. It’s not just courtyards either, online car brokers are also having to reduce their margins.
Official registrations figures for the new car market have falled by 23%, but this could be close to 30% if you remove the cars registered from dealerships. Even better news for buyers is that prices are going to drop either further as margins are squeezed.