Car loan customers should make the most of "fragile" used vehicle market
29/05/2008
The credit crunch is affecting sales of used vehicles and an auction site has advised that now is the time for car loan customers to grab a bargain.
British Car Auctions (BCA) reported that the value of used cars sold in April was only marginally higher than March figures.
Tim Naylor, a BCA spokesman, said an auction would offer the best opportunity to find an "excellent deal".
Mr Naylor explained: "Confidence in the used vehicle market is fragile in the post-Easter period and there are increasing volumes of cars available from a variety of quality sources. With prices under pressure, any unsold stock will inevitably be sold at what the market will realistically pay."
Car auctions can be "a little daunting", so BCA have suggested buyers go to several auctions before they actually purchase a vehicle.
Their advice to car auction novices is to make a decision on the make and model they want, then set a budget and stick to it.
According to Research and Markets automotive services market report 2008, the volume of used-car sales in the UK is still around three times as large as new-car sales.
If you're looking for a car loan then we can help. Apply Today.
Another great news story brought to you by AnyCredit Car Finance, Subprime Car Loans Specialists.
