Many people assume that the lead-up to December is a quiet period for the motor industry, with car sales slowing down as everyone winds down for Christmas. In reality, this belief makes now the perfect time to buy a new or used car. The so-called "Christmas slowdown" is mostly a myth. Whether you're motivated by the changing weather, treating yourself to a new ride to brighten up the darker nights, or gearing up to impress the family with your new wheels over Christmas, there are plenty of reasons to purchase your next vehicle this time of year.
With showrooms often perceived as quieter during this time, car prices are typically more competitive than usual to attract buyers. It's a great opportunity to secure a deal, and salespeople are eager to help you drive away in a car before Christmas. While some new models may have a waiting list, most supply chain issues have been resolved, and new cars can often be just weeks away from delivery. Plus, many dealerships have a wide selection of nearly new vehicles in stock, ready for immediate purchase.
A Change In The Market
With pressure mounting on manufacturers to meet the ZEV Mandate target by year-end and electric vehicle (EV) adoption slowing, now is the perfect time to consider an electric car. According to automotive market analysis firm JATO, EV discounts in the UK have surged by more than 50% compared to last year, while discounts on combustion engine vehicles have only risen by 13%. Research from Auto Trader reveals that this translates to an average discount of over £5,000 on fully electric cars, while buyers of combustion engine vehicles are saving an average of just £2,600.
While these figures may be average, many manufacturers are willing to offer significant discounts to meet targets and avoid potential fines of up to £15,000 per vehicle they fall short. According to Auto Trader, some brands have been offering substantial discounts to attract buyers. For instance, Jaguar offered the largest discount in terms of value, not percentage, on their I-Pace model, slashing the list price by an impressive 20.8%, resulting in savings of over £16,000.
In addition, the used car market has now returned to its pre-pandemic state. For the past few years, a shortage of supply combined with high demand caused prices to rise significantly. However, with production schedules returning to normal, the supply issue has eased, leading to a sharp decline in prices to more realistic levels. With some research, you can find excellent deals on pre-owned vehicles.
How Approved can help
Due to the increase in interest rates over the past few years, dealer finance rates have been higher than usual. At Approved, we are ideally positioned to help you find competitive rates with a tailored finance package. Our access to a broad range of lenders allows us to secure the perfect financing option for you and your new car. This means you're not limited to the "one-size-fits-all" finance solutions offered by dealerships or banks.
Our dedicated team is here for more than just arranging finance for your car. Their expertise allows them to assist in ways you may not have considered. Additionally, they can offer an honest, unbiased opinion on a car you're thinking of purchasing. As a broker, we remain completely impartial and provide all of our services free of charge to our customers.
Car Finance Any Time Of Year
 In addition to tailoring a funding solution to your needs, we can assist in finding your ideal car, recommend makes and models that meet your criteria, and offer advice on pricing—not just for the initial purchase, but also for the car's future value when it comes time to upgrade again. Our team excels not only at securing the right financing but also in providing expert guidance on the car market.
Whatever type of car you’re looking for funding for and whatever the time of year, you can get in touch with us either by calling 01908 429888 or clicking here