With new car sales falling for the twelfth consecutive month in March and new registrations being down 16%, dealers are dramatically reducing their prices to encourage people into their showrooms and make some desperately needed sales.

This drop is bad news for dealers and manufacturers, but great news for anyone who is in the market for a new vehicle as you are very likely able to pick up a great discount now. What Car? agree and they think that it’s a buyers’ market to the extent that anyone thinking about buying a new car should take advantage of this rare opportunity.

Fantastic new car discounts available

WhatCar? found that the average discount on a new car is currently 8.6% which equates to £2560, but some dealers will slash prices by up to 5x that amount with staff more willing to offer a greatly reduced price to boost sales.

Not only are dealers feeling the pressure to sell cars due to falling sales overall, but discounts also need to be offered to those looking to buy due to the influx of new products on the market which is causing competition between dealerships.

Nearly 25% of car manufacturers are now offering potential customers discounts in the double digits, with the Seat Toleda 1.6 TDI 115 SE being found to have the greatest price reduction as its price was almost halved by 42.3%.

Other new cars which have been heavily discounted include the Fiat Punto 1.2 Pop+ 5dr (25.3%), the Seat Mii 1.0 Design Mii 5dr (25.3%), the Citroen Berlingo Multispace 1.2 PureTech Feel (22.7%), and the Volvo s60 T4 [190] SE Nav [Leather] (22.3%).

The best time to buy a new car

There are many people in the motor industry who agree that now is the best time to buy a new car.
James Hind, founder of Carwow has pointed out that there are particularly great offers on diesel cars at the moment, as sales of this type of vehicle have taken a real hit recently, the usual price differential between petrol and diesel cars has been cut by around a third. He also added that motorists can get a great price on petrol cars too if they are savvy when choosing and purchasing their new vehicle.

Director of Strategy at Close Brothers Motor Finance, Chris Bosworth, has taken this opportunity to say that dealers need to adapt to the changing market in order to get potential customers into their showrooms, and the best way to do this is to offer them a range of great finance options and a wide variety of cars, including petrol, diesel, and electric models.

With so much focus on the falling sales of new cars it may have been missed that data from AA Cars has shown that sales of used cars are also on the rise, which is partly due to the fact that finance deals are now available for used cars when they used to be predominantly for new cars. This means that more people are able to afford the type of car that they want to drive without getting tied up in expensive car finance leasing deals, where they don’t own the vehicle they buy until full payment is made.

Recommended deals from carwow

Using carwow makes choosing and buying your perfect car easy and enjoyable. Their top-rated local and national dealers will send you their best offers to compare – meaning you get the car you want, from the dealer you like best, at a price that’s right for you.

Jaguar E-pace £2140 average saving and additional £1000 off on deposit contribution.
Audi A3 Sportsback £1738 average saving and additional £1000 off on deposit contribution.
Land Rover Discovery Sport £2533 average saving and additional £500 off on deposit contribution.
Skoda Citigo £840 average saving and additional £500 off for test driving.

How to get a great deal

If you are looking to buy a new car, take these main points into consideration which will help you to get a great deal:

  • Do your research – Work out exactly what you can afford and stick to this. The more specific you are the less likely it is that the salesperson will try to upsell and offer you vehicles or add-ons that are out of your budget.
  • Know the cars that hold value – new cars can lose 30% of their value the moment you drive off the forecourt. By choosing desirable cars at the start can help when you are the stage when you want to sell it years later.
  • Know how much it will cost to run – knowing the running costs, including insurance, road tax and fuel consumption, can make a vital difference in determining what is a deal worth doing and what it will cost each year.
  • Know when to shop – Prices will be lowest before registration changes and at the end of quarters as this will be when dealers are looking to pick up bonuses based on their sales.
  • Don’t be intimidated – Haggling a great deal can be hard if you are not used to it, but don’t be afraid to ask questions and ensure that you are getting the best price possible.
  • Check the paperwork and the warranty details – just before you are about to sign, make sure you know every detail of the finance agreement and what is inside and covered by the warranty.
  • Finally, don’t be afraid to get impartial advice. PetrolPrices has a partnership with Carkeys, they provide a free and impartial, no obligation telephone based advice service where they can help you find the very best new and used car deals out there at the moment, which can save you up to £3000 on a car. Click on start now and fill in your details and an adviser will call to assist you.

    Are you currently hoping to take advantage of these great new car offers? Would you be tempted to change your car due to the massive reductions that are on offer? Let us know in the comments below.

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