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SSIA - Used Car Market

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  • 27-03-2006 12:34pm
    #1
    prospect
    Registered Users Posts: 4,791 ✭✭✭


    I am in the market at the moment looking for a used mid-sized diesel saloon.

    I was just wondering, as the first bunch of SSIA's will start maturing any day now (i think), how will this effect the used car market.

    I would imagine that there will be an influx of people trading up to new cars. So the market will be flooded with second hand cars. Will this bring the prices down?

    However, there could be an equal increase of people trading up old cars for nearly new cars, so will this supply the increased second hand market with tht demand it needs to maintan pricing?

    Or, will zilch happen?

    What are your thoughts, am I better off to wait a month or three?


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    #2
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    Personally I think that people will be looking for new cars. Which will mean that if they trade in, car forecourts will be over packed and dealers will want to clear them quick enjoy.

    If your in the market for a second hand car. The best time to buy is the end of January, theres always loads of trade in's and dealers are always willing to discount.


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    #3
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,712 Mod ✭✭✭✭Henry Ford III


    Forecourts are already packed with used cars for sale.

    Most SSIA's will mature much later on.


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    #4
    kaizersoze
    Registered Users Posts: 7,042 ✭✭✭kaizersoze


    It's hard to tell. Back in 2000 when the scrappage deal was in place and everyone wanted the 00 plate, the same theory was in the air but I didn't see any evidence of it.
    The other thing to remember is that people will have money in their pockets and be able to strike better deals on the new cars. Then the garage will be more dependant on the sale of the trade-in for a god price to cover themselves.


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