THOUSANDS of Brits are expected to buy a new car in the coming weeks following the release of new ’19 number plates.
And experts have urged buyers to get in quick in order to get the best deal.
Plenty of Brits would be tempted to wait until after the initial new plate rush to get a new model.
But experts believe the best deals are actually available now rather than towards the end of the financial year.
If you have done your research, many dealers are willing to negotiate a better price in order to clear stock and hit sales targets following the release of ’19 new registration plates today.
Dr Roger Gewolb, Executive Chairman & Founder of FairMoney, offered some handy tips for those looking to buy a new car with the latest plates.
Should I buy a new ’19 plate car now?
Car manufacturers are more likely to offer you a better deal on a new motor when the market is at its busiest.
In an attempt to attract your business, dealers are likely to lower their prices compared to other competitors.
Dr Gewolb said: “There is a misconception that waiting until after the rush of the 2019 plates may mean that you’re able to get a better deal.
“However, because the majority of the car market is at its most competitive, you have a higher chance this month of securing a better deal, at the point where the market is at its most competitive and everyone is striving to give you the best deal.”
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Will it be cheaper to buy at the end of the month?
The current slump in the market means many dealers are unlikely to slash their prices later in March, according to Dr Rogers.
Typically, dealers are likely to jack up the prices of a new car once they have met their quarterly sales targets.
Many dealers usually hit these targets in late February and early March so it pays to be on the look out earlier in the month.
Can I get a cheap deal on new cars with last year’s ’68 plates?
If you’re looking for a cheaper option, dealerships are expected to start slashing costs this month on cars with ’68 plates released last September.
Before committing to these vehicles, it’s important to again do your research and check for the best deal on price comparison websites.
If you feel comfortable, you can talk down the price even further if you can prove that other dealerships have offered you a lower price.
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Dr Roger Gewolb said: “Many people may be tempted to trade in their own cars in place of a new 2019 plate or a more modern second hand car.
“The market traditionally grows around the time of new number pates coming in, as many will be offloading their current vehicles in place of some new ’19 plates.
“As dealerships seize this opportunity to project their deals far and wide, it is important that consumers are selecting the right deals for them and going about this in the best way.”