Bargains are out there if you have cash
ASINGLE sentence could have made me rich if I had a single dollar for every time I’ve heard it in the past six months. The words come from almost everyone, from the heads of car companies to the local pump jockey.
And they are . . . ‘‘There has never been a better time to buy a car.’’
We’ve had all sorts of proof since the end of last year, as new car companies have slashed prices and boosted value, used car dealers have battled to clear stock and auction houses have slammed the gavel on some incredible bargains.
I have proof again this week on two fronts — the $26,990 starting price of the updated Skoda Octavia range and the auction results for a range of luxury and performance cars. Turn the pages today and you will see what I mean.
Even so, Roy Morgan Research says the number of Australians planning to buy a new car in the next year is well below the number at the same time a year ago.
The exact figures, says Roy Morgan industry communications director Norman Morris, is a 14 per cent drop from the same period last year.
‘‘This decline is consistent with the drop in Roy Morgan Consumer Confidence rating, which has spent the first two months of 2009 well below the corresponding monthly figures recorded in 2008, suggesting no short-term sign of a recovery in new car sales volume,’’ he says.
If the showroom results continue to reflect this drop, the number of new cars registered this year will fall from just on a million to around 870,000.
That’s the bad news. But, provided you have some extra cash from the cut in mortgage rates and have no real fear about your job, there are some incredible bargains.
To say it one more time, there has never been a better time. . .
Lap of luxury: top-end performance cars have been fetching good prices at auction.