Why Now Is The Perfect Time To Buy
Many people think that the lead up to December is a quiet time in the motor industry, a time when people are winding down for Christmas and car sales are slow. But as a direct result of this belief, now is the perfect time to be purchasing that new or used car. The Christmas slowdown is mostly a myth, at this time of year the Oracle Finance phones are as busy as ever and our customers are looking to take delivery of their new car as soon as they can. Whether you are spurred on by the change in the weather, to cheer yourself up now that the darker nights are closing in, or are looking for the perfect bragging rights for when the wider family get together for Christmas Day, the advantages of purchasing your next vehicle at this time of year are plentiful.
With the perceived quietness in the showrooms, cars are usually priced more competitively than at any other time to draw people in. Deals are there to be had and salespersons are keen to sell you that car this side of Christmas. There may be a waiting list on some new car models, but most supply issues are long gone and new cars can be just weeks away from ordering, with dealerships also having plenty of nearly new cars in stock that are ready to drive away.
A Change In The Market
The pressure on manufacturers to meet the ZEV Mandate target before the end of the year, as well as EV uptake stagnating, means there couldn’t been a better time to be considering an electric car. Automotive market analysis hub JATO found that EV discounts in the UK have increased by over 50% since this time last year, whilst combustion engine vehicles have seen just a 13% rise. Findings by automotive marketplace Auto Trader state that this accounts for an average discount of just over £5,000 on electric only cars, while combustion engine vehicle buyers have seen an average saving of just £2,600.
These might be average figures, but many manufacturers are prepared to offer huge discounts in order to try meet the targets and avoid a potential fine of up to £15,000 per vehicle they fall short by. According to Auto Trader, some brands have been offering sizeable discounts in order to try and tempt potential customers. Jaguar gave the biggest discount on their I-Pace model, in terms of value not percentage, with a whopping 20.8% off the list price of a new car, working out at a saving of over £16,000.
Not only that but the used car market at the moment has seen a return to its pre-pandemic way of life. For a few years now, the lack of supply combined with the demand for vehicles has meant that the used car market has been somewhat inflated with prices much higher than usual. The return to more usual production schedules has meant that the limited supply is no longer an issue and the artificially inflated prices have seen a dramatic fall to more realistic valuations. There are certainly some great pre-owned prices to be found if you do your research.
How Can We Help?
With the rises in interest rates over the past few years meaning dealer finance rates were higher than they have been historically, at Oracle we are in the perfect position to assist you in the search for those competitive rates with your bespoke finance package. As we explained in our previous article, ‘Challenge Us To Beat The Dealership’, our ability to use our extensive panel of lenders allows us to find the perfect package for you and your new car. Therefore, you’re not constrained by the ‘one size fits all’ approach for car finance from a dealership or bank.
Our dedicated team of Account Managers are also not just here for you should you need to arrange finance for your car. Their expertise allows them to assist their customers in several ways you may not have thought of. From free settlement figures and HPI checks, free valuations on vehicles to future resale value predictions, a discussion on your existing credit rating and how you could improve it to ensure you are in the very best position for your upcoming car finance application, to giving you an honest and valued opinion on a car you are thinking of buying. Our position as a broker means we are always impartial and offer our services completely free of charge to our customers.
The experience and knowledge that we have as we enter our 20th year as a business and by sourcing over £2 billion of funding for our customers, means we know a thing or two about not just car finance, but the car industry as a whole. Our team are passionate petrol heads and look forward to getting their customers behind the wheel of their dream cars, almost as much as you enjoy driving it away yourself.
Car Finance Any Time Of Year
Whatever type of car you’re looking for funding for and whatever the time of year, you can get in touch with us either by calling 0800 012 6666 or clicking here.
With over 2,500 Trustpilot 5-star reviews and as four-time consecutive award winners of the ‘Best Specialist Car Finance Provider’ award from 2020 onwards, you too can find out why thousands of people trust us time and time again to find a smarter, tailored funding solution when looking for your next dream car.
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