When the sun starts shining, the tops go down – on cars, that is. Britain has a love affair with convertible cars that seems at odds with our famously bad weather and every summer the auto industry sees sales of cabriolets shoot up along with the mercury. However summer is actually the worst time to invest in a new convertible and here’s why:
Summer breeze make prices high
The higher the temperature goes, the more people rush out to buy themselves a soft top. In any market when demand is at its highest, so are the price. Dealers and private sellers both know it’s easy to sell a convertible when the sun is shining so they are less keen to make deals. Therefore if you want some soft top fun this summer you’d better get your skates on. If you miss the boat this year you may be best off waiting it out over the summer to save a significant sum by buying when the weather turns cooler again.
Spring is a time when people traditionally spend less money on cars. After paying off Christmas expenses, they then start planning summer holidays, which means a new car is often off the menu until later in the year. This means we come back to the classic supply and demand issue. With fewer buyers around earlier in the year, dealers will need to discount prices or offer deals to shift cars, so you are more likely to get away with making a lower offer than the advertised price.
March marks the first registration plate change of the year, which is always an interesting time in the auto market. Prices can vary wildly depending what you’re buying as, pre-plate change, dealers can have a glut of old stock they need to sell before the updated replacements arrive, making them more willing to cut a deal on new vehicles. The few weeks after the plate change are the best time to look for a used convertible, as those who replaced their vehicles with new registered models will be keen to get rid of their old cars and, equally, dealers will have plenty of part-exchange stock they will be eager to move.
Perhaps in the spirit of ‘new year, new car‘, spring is the time of year for new model releases. To help stimulate the market at a traditionally slow time for sales and on the back of high-profile motor shows such as the annual Geneva Motor Show event, you will find spring is budding with updates and face lifted models in addition to new and exciting releases.