Seasonal trends reveal car loan opportunities
Car loan borrowers, who are looking to reduce the cost of buying a second hand vehicle, have been advised that bargain basement deals are most common at and around January/February time.
A new report reveals that reduced demand throughout the fourth quarter of the preceding year often leaves many second hand car resellers with inflated stock levels. As a result, many dealerships are often forced to sizeably reduce the sticker values on their vehicles in order to make room for New Year deliveries. For the consumer, these seasonal trends open a world of opportunity, especially considering that the vast majority of stock is often of an exceptional quality.
For those consumers who may be considering applying for a car loan, in order to fund the purchase of their next vehicle, it would be wise to take a step back and if possible delay the purchase until the New Year.
It is also worth noting that car loans can also be markedly cheaper than dealer arranged finance, as a recent study from Sainsbury’s bank reveals. Coupled with a sizeable reduction in the cost of the car as a result of seasonal buying, savvy consumers could stand to save a fortune on their next car purchase.
