Buy a 4x4 as the weather hots up
The soaring temperatures suggest now would be the ideal time to buy a convertible. But leading vehicle remarketing specialist, British Car Auctions (BCA) is actually advising that the better deals to buy right now will be the cars that cope with the snow, rain and storms of winter. As Tim Naylor, editor of the BCA Used Car Market Reports, used car buyers that buck the weather trends can benefit from some significant savings.
“Average values for 4x4’s tend to peak as the weather worsens, as our Pulse Price Report proves each winter”, said Tim Naylor. “With the sharpest price rises tending to occur in the wake of any heavy snowfall, floods or storms – especially if these have longer lasting effects on travel conditions – the more the mercury drops the higher the prices go. Indeed, nothing makes a four-wheel drive more attractive than a dusting of snow.
“On the other hand, the height of summer is when average values for 4x4s are at their lowest. Currently values are 7.4% down on those recorded in the final quarter of last year so now is definitely a good time to look for this type of vehicle.”
In contrast, the prices of convertibles are currently on the up. The average value for a convertible sold at BCA in the fourth quarter of 2013 was £7,648. This rose slightly in the first quarter of 2014 to £8,055 but rose sharply to £9,412 in the second quarter as the weather has improved.
“Despite our notoriously changeable weather, British motorists buy more convertibles than our European cousins and values tend to rise as the warmer months approach” continued Tim Naylor. “In terms of value for money, the best time to buy would be the depths of winter as that is when values average the lowest across the board. Currently values for convertibles are 23% higher than they were over the final quarter of last year. Some of this will undoubtedly be down to changing model mix in a relatively low volume sector but the general trend is clear.”
Naylor added “Of course, motorists cannot always pick and choose when they change their car, particularly if it is for financial, mechanical or lifestyle reasons. There is little to be gained by hanging on to a depreciating asset you no longer want or require. But if you are going for a ‘reward’ purchase that is not time sensitive, plan to buy at the optimum time of the year that will give you the best deal.”
