The Value of a Car

There are now more than 1.2 billion reported cars on the roads around the world, over 35 million registered for the road in the UK, and some 2.63 million new cars registered last year.

This is the highest number of new car registrations since the 2008 recession. It is due to multiple reasons.

For example, last year saw the Pound at its best against the Euro since the recession, meaning importing cars was cheaper than it had been in years. These savings could then be passed on to the customer. The low interest rates that were beginning to return also allowed for better finance deals from companies such as Barclays . The market is looking stronger than it had for nearly a decade.

Add this to the eternal use of the car as a status symbol and cars are a commodity that are becoming more of an essential than a luxury. This isn’t to say that new features aren’t being innovated year on year that might seem luxurious. But the growth in the market allows for these features to be produced at lower costs. With the outcome being an ability to own a car that makes life easier than ever before.

 One of the biggest shifts in the industry since the turn of the decade is the view of making the newer vehicles become the more economical choice. By providing the opportunity for lower running costs the car manufacturers are bringing in a new range of customers who are willing to spend a little bit more at the start of their car ownership if they can believe that they will have lower costs over the lifetime of the car. And one of the way in which they lower the lifetime cost of a new car, over a second hand car, is by giving the assurances that it will spend more time on the road than at a mechanics.

 Combining this ability to have lower running costs with the environmental ethos, that a large part of the population has bought into, means that the race to zero emissions has come to the fore. This is another feature that new cars are able to boast. This is then made even better in that it is being rewarded by the government by adding tax incentives to those who choose new vehicles with lower emissions.

To conclude, the new car market allows for drivers to purchase a vehicle which hurts the pocket, environment and their lives much less. With all this information, why not see how much you could save on the car you want with AutoeBid!