Press Release Summary = Used cars today are getting upstaged by the steady surplus of new vehicles in the market.
Press Release Body = Used Car Prices Go Into a Freefall in Australia
14 December 2006
---\"It\'s a great time to be buying a used car."
This is according to Nick Adamidis, national sales and marketing manager for automotive research company Glass\'s Information Service, what with the recent plunge of used car prices.
Used cars today are getting upstaged by the steady surplus of new vehicles in the market. The displacement consequently is pulling used cars prices down. Bad news for car sellers, no doubt, but on the other side of the equation, it\'s a field day for the buying public.
This trend is thus giving car buyers more bargaining power than ever before as car owners themselves are forced to sell their wheels at a cheaper price.
Moreover, car owners are forced to get rid of their cars in favour of more fuel-economical vehicles. Which is no wonder why big petrol-guzzling cars like V8s and V10s are taking the hardest blow in the price rollback, since buyers demand discounts on them.
Over the past four years, Australia\'s petrol prices have increased by 63%. If this trend persists, motorists will soon be looking at as much as $1.47 a litre-a figure frightening enough to make budget-conscious car buyers become instant used cars converts.
Indeed, Australian car buyers are getting to be more financially wise these days. The fact is buying used cars is already a wise investment, and buyers are taking it one notch higher by opting for fuel-friendly vehicles.
The drop in tariffs on imported vehicles, says Adamidis, is also driving prices down. \"It affects the whole market, because if the makers of imported vehicles drop their price by $2000 or $3000 then the local makers have to drop their prices as well to stay competitive,\" he said. If the big cars are taking the plunge, small used cars are holding their market value fairly well. Add to this the holiday season factor which forces used car dealers to sell cheap just to vamp up their year-end quotas.
Anyway you look at it, it\'s still a great time to be buying used cars today. http://cars.ozfreeonline.com
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