Skip to main content

Securely reserve vehicles and apply for finance online from the comfort of your own home. Find Out More

Is Now The Time To Sell Or Upgrade Your Car?

27 October 2022


Is Now The Time To Sell Or Upgrade Your Car?

Used or brand new, car or van, there is no uncertainty that the demand of all types of vehicles has increased dramatically throughout the UK. As a result of this increase in demand and combined with a reduction in New Car & Van production globally due to a shortage of raw materials and semi-conductor chips, this could possibly mean an increase in the value of your car or van. We don’t know how long this will continue for, some manufacturers are saying it may ease later this year, and some say it could be well into 2023. The Ukraine crisis could drag this time scale out even further, especially for European built cars. There has been a lot about the motor vehicle market that we could not have predicted! So, this could indeed mean that now may be the best time to sell your vehicle - well if you want to take this opportunity for the best return or the closest gap to a New Car before inflation catches up! 

https://news.sky.com/story/recovery-has-not-yet-begun-car-production-continues-to-fall-in-the-uk-12600486 

Ben Winslow & Tim Freeman, Directors at Startin Group go on to answer some questions about the current state of the Motor Industry:

There are a number of reasons, and this is what we have observed - while we all want to move forward from the pandemic, uncertainty surrounding public transport and travelling abroad still remains and this is still considered risky by some.

A number of the population may have gotten by in the past with one car or even without a car, but this may now not be the case. All of those people have gone on the search for that bespoke journey that a car gives you, not withstanding this, a lot of families are rekindling their love for weekends away in the UK and holidays in and around the UK, and the car gives them the ultimate flexibility in achieving this. Whilst the weather in the UK can be unpredictable, on a great day it has some incredible places to visit. Add these factors to many having not spent their holiday budget for the last two years, a new car is a great purchase to give you a lift in spirits, they are very emotive after all.

Primarily, the rise of home delivery. The pandemic bought to us the need to have everything we could delivered to the comfort of our own homes, and business have had to gear up to supply this new way of trading. Even we have seen an increase in the number of people wanting to have their new car delivered directly to their door.

In short, yes. As supply is so short, like many other motor dealers in the UK, we have a waiting list for new cars and vans. The manufacturers factories have suffered significant supply chain issues as a result of the Covid-19 pandemic, Brexit and now the Ukriane crisis. Some factories have even been forced to close for a period of time. Ultimately, they cannot build cars at the rate they are being sold, despite the relatively small increase in demand for New Cars. Orders are in for New Cars but it’s a waiting game. As a result of this, some of our customers are opting to buy a higher-specified nearly new car instead so that they can change their car as planned.

Lots of cars and vans that are coming in part exchange or being bought by us are making more that we were selling them for on our forecourt in early 2020 and prior. If you bought a car in 2019/2020, then you would most likely get your money back or even make a profit in some cases. All of our brands: Dacia; Honda; Kia; Peugeot; Renault; Skoda; Suzuki and Vauxhall are fetching strong money for the right specification and condition. If you want to find out the value of your car, click here or the button at the bottom of the page and we will give you a personalised valuation. It may add a bit of positive to rather negative world right now!

This is a hard question to answer. We do seem to be experiencing a good level of demand and optimism as the recent Covid-19 restrictions have been eased. We are unsure if this is an isolated upsurge, or whether the growing inflation rates and commodities surging in price will bring the demand levels and in turn prices back down, but one thing we do know is that with electric cars growing in the market, this could be the best value opportunity to make the switch. Why don't you find out if you're ready to make the switch to an electric car today?

Get A Tailored Valuation Today

Click Here

Contact A Brand Specialist

Click Here