New plate day boosts dealers, affects used car prices

author: FutureCar Staff    

Experts are predicting that the introduction of the new '73' plate will give a boost to the new car market, but they are also warning of potential consequences for used vehicle prices. Today, September 1, marks the rollout of the new plate, six months after the introduction of the '23' registration in March. This switchover is traditionally a significant event for car dealers, who often hold midnight handovers and special events to celebrate the occasion.

According to specialists, the arrival of the new plates is not only good news for the motor trade but also for consumers looking for a bargain. CarVertical's Matas Buzelis stated, "The arrival of new number plates in September often gives the car market a boost, and there is no reason to think this year will be any different." Many drivers who enjoy the prestige of driving a brand new car will be heading to the dealerships to be among the first to hit the roads with the new '73' plates.

Furthermore, the arrival of new plates in March and September can also benefit those buying a used car. Dealers are often more inclined to make offers on older cars that they want to clear from their forecourts to make room for newer models. Drivers looking to negotiate a better deal should inquire about the length of time a vehicle has been up for sale, as dealers may be more willing to offer a discount if it has been in their possession for a while. Additionally, the end of September can be a good time to find a bargain, as dealers often have quarterly sales targets to meet.

However, it is important for drivers to conduct thorough history checks on used cars before making a purchase. These checks provide information on the car's MOT and service history, whether it has been involved in an accident or damaged, and if there is any outstanding finance. They can also reveal instances of odometer fraud, where the mileage has been falsified to hide the true number of miles driven.

While the arrival of the new registration is positive for dealers, experts advise against selling used cars at this time. The influx of new vehicles is likely to cause a dip in the value of used cars, although they are still at record levels following several years of growth. Tim Rodie, a driving expert at Motorpoint, explains that it is not the new plates themselves that impact the value of a car, but rather the increase in brand-new vehicles on the road. Therefore, if someone is planning to sell their car, it is recommended to do so before September 1.

FutureCar Staff