New plate day boosts dealers despite impact on used car prices

author: FutureCar Staff    

Experts are predicting that the introduction of the new '73' plate will give a much-needed boost to the new car market, but they are also warning of the potential negative impact on used vehicle prices. Today, September 1, marks the rollout of the new plates, six months after the introduction of the '23' registration back in March. This switchover is typically a significant event for car dealers, who often hold midnight handovers and special events throughout the day 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 in search of a bargain. CarVertical's Matas Buzelis states, "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 owning a brand new car will be heading to the forecourts to be among the first to hit the roads with the new '73' plates. Additionally, the arrival of new plates in March and September can also benefit those looking to buy a used car. Dealers are often more inclined to make offers on older cars in order to make room for more recent models.

Drivers looking to negotiate a better deal should inquire about how long a vehicle has been up for sale. If a car has been in the dealership's possession for a long time, they may be more willing to offer a discount. Furthermore, dealers often work towards quarterly sales targets, making the end of September a good time to secure a bargain. It is crucial for drivers to conduct a thorough history check on any used car they consider purchasing to avoid potential issues that could end up costing them more money. History checks provide information about the car's MOT and service history, any accidents or damages it has been involved in, outstanding finance, and possible odometer fraud.

While the arrival of the new registration is positive news for dealers, experts advise against selling used cars at this time. Due to the influx of new vehicles, the value of used cars is expected to decrease, although they still remain 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 affect the value of a car, but rather the increasing number of brand-new vehicles on the road. With newer models entering the used car market and many drivers looking to sell, the value of existing cars could decline significantly. Rodie strongly recommends that anyone looking to sell their car should do so before September 1.

FutureCar Staff