Great time to buy a car

‘Consumers can expect a great deal on new cars offered by dealers. Although the criteria for some types of finance may have become stricter, dealers are still able to offer a competitive car finance package to all of their customers,’ according to Sue Robinson, Director of the RMI National Franchised Dealers Association (NFDA), representing the UK’s car dealers.

Despite current economic concerns, car dealers nationwide are carrying a wide variety of excellent-value cars across all classes, and are still able to provide a variety of finance packages to suit most budgets.

The Finance and Leasing Association (FLA) – which represents car finance providers – has seen a steady increase in finance sold in showrooms since the start of the year. FLA new car finance penetration stood at 50.7 per cent in July 2008, up from 47.2 per cent in January. The value and volume of used car finance agreements was up 2 per cent for the year to July 2008.

Paul Harrison, Head of Motor Finance at the FLA, said: ‘Despite tight trading conditions, our statistics show that new and used motor finance has bucked the trend so far in 2008. Consumers are turning to dealer finance as other sources of finance have become more difficult to access. There is a huge opportunity for dealers in promoting the benefits of secured finance to consumers. Dealers should be talking finance with all visitors to their showrooms’.

Robinson continues: ‘Following the September plate change, dealers are keen to make sure that consumers get a good deal on a new car. There are a range of discounts available, as well as a wide variety of bespoke finance products to suit most people’s circumstances.’

‘Get into a showroom today to find out more,’ added Robinson.