Emergency UK Budget And Misery For The Used Car Buyer
Recent years has seen a fall in the availability of used cars and a consequent rise in prices. And for those wanting to purchase a used car, this latest emergency UK budget looks set to cause even further misery for the used car buyer. VAT(Value Added Tax) is due to rise from 175% to 200% and those buying second hand motors will now have to pay even more money. So for this already struggling car industry this news has come at a bad time and those wanting to pick up a bargain will struggle now.
The cause of current woes in the auto industry has been the economic crisis a couple of years ago from which we have still not recovered fully. It has led to a dramatic decrease in the number of people purchasing new vehicles, and this has had a knock on effect on the market for used cars. When people don’t buy brand new cars, they have no need to get rid of their old cars so that is why there is a shortage. And whenever the supply of an item drops, the price automatically rises. This is the case in this instance. The government scrappage scheme was starting to get things moving again but when that ended so too did the incentive to buy a brand new car.
It is difficult to predict what the future has in store for those of us on the lookout for used cars. It looks as though the prices of used cars are going to remain high for quite a while. And it is just going to be worse for used car buyers now with the increase in VAT. It is not as easy to find a bargain when looking for a used car as it used to be but it is still possible. But we can just hope that the new car market will pick up and that the amount of used cars available increases.
Whenever you happening to be looking for used cars, it’s always best to carry out a proper research ahead of time. This reserach will let you find the best cars available for each category you look at. Once you’ve finished, you could find youself driving away from the dealers in a used smart car or even a used suzuki.
Emergency UK Budget Heaps More Misery On The Used Car Buyer
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7 comments
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September 18, 2010 at 5:53 pm (UTC -6)
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