Monday 5 December 2016

Buyers warned not to be tempted spend over-budget on 152 models

Last July's total could be eclipsed by weekend. Buyers warned on spending.

Published 08/07/2015 | 02:30

July has become an integral part of the car purchasing year
July has become an integral part of the car purchasing year

YOU don't have to look at the statistics to know lots and lots of people have bought a 152-reg car.

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It has been a long time since I've seen so many new registrations come on the road in such a short period.

The numbers are building to such an extent that sources are suggesting last year's total of around 18,700 for the month could be eclipsed by the end of this week.

In other words last July's total could be breached in just two weeks this month.

That is indicative of how much July has become an integral part of the purchasing year and how people now view it as their month to go shopping for a new car.

And with such demand likely to carry on for the rest of the month who is to say how many new motors will be bought before this July is out?

The high level of purchasing means the total for all of last year is merely a signpost on the way to a big overall increase this year.

For buyers the next two weeks are important as, for many, they represent the last chance this year to get a new car.

There's a plethora of deals and incentives out there but, as ever, it will really pay to shop around.

That's because the next two weeks also represent, for many dealers, the last big chance to rack up sales of real stature in 2015.

There is stock to be shifted and targets to be met so buyers should be aware that they can drive some tasty deals at this stage.

Some of the big guns are offering a lot of extra h and equipment for July in what is a hugely competitive market. It's intriguing to observe the strategies being used to get us to buy now.

But please make sure you don't over extend your budget or repayment ability. It can all look so easy and rosy when you are on the verge of buying. Just double check your figures.

New research from Cartell.ie suggests that some people who bought cars over the past two or three years are finding it difficult to keep up repayments as the levels of finance outstanding on vehicles coming back on the market appear to be rising sharply.

There are other possible explanations for that trend too but you should use the warning as a curb on temptation to over commit.

Indo Motoring

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