A CAR expert has urged drivers to “shop around” as an upcoming law change set to be brought in within days could see used motors slump in value.
Matas Buzelis from vehicle history service CarVertical said that a tweak to DVLA rules could benefit buyers in the near future.
GettyDrivers have been urged to “shop around” for deals on used cars as a new law is introduced in just days[/caption]
In March and September every year, the agency releases the new registrations for the year ahead.
New ’24’ plates are set to be allocated to new motors this week which, as Matas explained, generally causes increased demand for fresh models.
This creates a problem for dealers with old stock, prompting them to cut their prices in an attempt to keep sales high.
Indeed, car finance specialists Carmoola say that “new reg day” creates a “ripple effect”
Matas told The Express: “Brand new cars will be sold with the ‘24’ plate, and drivers who like the prestige of driving a new car will be heading to forecourts to snap up the latest models.
“However, the arrival of the new plates can make March a good time to shop around for a bargain on the used car market.
“Dealers are often more open to a good offer on older cars that they want to shift from the forecourts to make room for more recent models.
“They are also often working to quarterly targets, making March a good time to haggle.”
He also recommended asking how long a car has been on the dealership’s books as they are more likely to give you a discount on vehicles they are struggling to shift.
And the savings could be available by the end of this week, with the new registrations being released on March 1.
However, Matas warned of the risks around buying a discounted car and urged Brits to watch out for rip-offs.
He added: “Drivers should always make sure they examine all aspects of the car’s past with a history check.
“It’s important to make sure the car will not end up costing more than it is worth because it has been seriously damaged or has been clocked.”
Luckily, you can buy a history check online for as little as £10.
This will let you know if the car has ever been reported stolen, written off or has outstanding finance payments on it.
You can also use free registration checker tools on the DVLA and DVSA website to access the tax status of the vehicle and check its full MOT history, as well as whether the model has any active recalls on it.
It comes after the DVLA released the full list of banned number plates ahead of the fresh registrations being applied.