Aberdeen, UK -- (SBWIRE) -- 03/11/2015 -- People looking to buy used cars are set to get access to more attractive finance packages as the market adapts to flourishing new-car sales.
Although the auto industry was put in a tough spot following the financial crisis in 2008, sales of new cars have grown significantly in recent years, largely thanks to the availability of personal contract purchase (PCP) financing packages.
In many cases, this has meant that buyers are compelled to choose a new car rather than a second-hand model because the finance packages have been more favourable. But now PCP deals are starting to penetrate the used market and will make things better for buyers and dealerships alike, according to analysts at CAP Automotive.
Dealers have found that PCP deals on new vehicles have put them in a difficult position when selling second-hand cars, forcing them to discount used models significantly in order to make them competitive and thus reduce the amount of profit that can be made on each sale.
Now the plan is to make PCP financing a widely available option to buyers investing in used cars, meaning that deposits will be low or non-existent in some instances, while monthly repayment rates will be affordable.
Industry expert Robert Hester explained that PCP has the added benefit of building brand loyalty in buyers and even encouraging them to return to the same dealership again once their initial contract has expired. This could help to stimulate the used market further and give consumers and dealers a reason to be confident.
About City Cars Scotland Ltd
City Cars Scotland stocks a regularly changing range of excellent second-hand cars for sale Aberdeen residents and those in the surrounding area can research online and take a test drive in person. Finance options are available to customers to keep costs down, and it also offers warranties on the used vehicles it sells for added peace of mind.
For further information please contact:
First Name: Jake.
Last Name: Owen.
Business Name: City Cars Scotland Ltd.
Address: Brookfield, Murtleden Road, Milltimber.
Postcode: AB13 0HS.
Phone No.: 01224 548820.