Is it a good time buy a car?

Is it a good time buy a car?
In my opinion the answer is 'yes' over the past 6 months and more used car values have been dropping very fast.
A few years ago you could pick up a 2 year old car with average mileage for approximately 40% less than the new car price, you can now get them for almost 60% less. Although if you buy a used car now or in the future you may expect your part exchange to be worth less.
The car business is relatively straight forward and many don't understand it so let me try.

Dealers have a book that gives them an 'indication' of what the car to buy is worth. Any good sales manager will try and buy the car at a few hundred less than that price, subject to how sell able he or she thinks it is, some may pay a bit more if it were a desirable model ie A convertible at the start of summer as there is nothing better than driving around with the roof down. As an example a 4x4 currently is bad news as it may take longer to sell. In the ideal world for dealers to make the most profit they need to sell cars within 30 days of it going on to the forecourt, why? let me explain.
Without going into Vat, warranty and service, lets say that the sales manager bought a car @ £3000 and decides to sell this at £4000 the sales manager has £1000 profit if sold for the full price. Lets also say that the used car price drops by £200 each month, for every month that goes by that car drops by £200 which in theory is not the best deal for you if you bought it after it had been on the forecourt for a few months because you will be buying the car for more than what the car is worth.

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With this in mind you will need to search around various used car websites to find that deal. A dealer with plenty of used car stock i would guess is where you would find this as they will a high stock turnover therefore should have cars bought in at the right money in order to sell to you.
Right about now you may well see a flood of late used cars hit the market with signinificant savings.
Late Used Cars Find a filtered list of used cars that are less than 12 months old.
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