Brexit could help the used car market
The second-hand car market is set for a boost, after experts predicted that prices of new models in a post-Brexit Britain will increase, due to the weaker pound and other factors. We have already seen the cost of many hi-tech goods like computers increase 10% in the month after the vote, and the price of cars loaded with many semiconductor components, imported metals and other elements from the complex global auto supply chain will likely follow suit.
Any increase in trade tariffs with Europe will also see imported models like BMWs and Mercedes all rise. These changes are much more likely to drive many satisfied customers back our car showroom, and see others turn to the second-hand market. Other changes that could affect new car sales will be increases in costs for finance, which will affect the affordability of expensive newer models more than more affordable second-hand models. On the plus side, the cost of motor insurance should come down, as brokers no longer have to comply with some of the more complex EU rules.
Some of these changes could see costs rising well before any Brexit, due to uncertainty in the market, something that puts new car dealers ill-at-ease. So if you’re thinking about buying a car, act soon, and consider a second-hand model that will save you even more money.
We offer a wide variety of mid-range used cars from all makes, to cater for all needs. We can part-exchange your old car and provide a safe-and-sound warranty with your new runabout or family saloon. For every day use, your second hand car should still provide great value over a new model. Perhaps the most beneficial aspect of Brexit is that it gives you even more reason to come to our showroom – as if you needed one!