What are peoples thoughts on the secondhand market once the SSIAs start to mature (later this year, but primarily early 2007)?
My thoughts:
a) there will be a lot of new cars purchased, people trading up from 00s to 04s, a lot of trade-in 00-04 cars available & should be good value.
b) people owning a 96/97/98/99 car are likely to use the SSIA cash to trade up, for new or 01-04 above. There will be a flood of 96-99 cars on the market. Prices likely to drop, as people generally won't be interested in buying a car of this age when they have just received a wad of SSIA cash.
c) there should be more interest in the more expensive end of the market, if people use the cash to get them that Merc, BMW or Lexus they always wanted.
So where does that leave me, looking to change the car in the next year or two - buy now or wait until Mar/Apr 2007 when all those late SSIA accounts mature?
My thoughts:
a) there will be a lot of new cars purchased, people trading up from 00s to 04s, a lot of trade-in 00-04 cars available & should be good value.
b) people owning a 96/97/98/99 car are likely to use the SSIA cash to trade up, for new or 01-04 above. There will be a flood of 96-99 cars on the market. Prices likely to drop, as people generally won't be interested in buying a car of this age when they have just received a wad of SSIA cash.
c) there should be more interest in the more expensive end of the market, if people use the cash to get them that Merc, BMW or Lexus they always wanted.
So where does that leave me, looking to change the car in the next year or two - buy now or wait until Mar/Apr 2007 when all those late SSIA accounts mature?