5:02 am, May 5, 2024
The clocks have gone forward and with them, the dark, damp, depressing darkness of a seemingly endless winter has finally been banished.
Spring has sprung and summer is on the horizon, and I am personally looking forward to more daylight hours, the occasional late-night barbecue and even perhaps a holiday!
I’ve felt the same way about the motor trade over the past few years, too. It has felt like the clock of progress had stalled a little and we were stuck in an endless winter of doubt and uncertainty.
However, the season of change is upon us and 2024 just has a different ‘feel’ to it.
I like to keep my ear to the ground, and the tone of people’s expectations has changed recently, too.
The feeling is that experts and industry commentators expect the used car market to bounce back this year.
The results of a survey recently conducted by Auto Trader of 25,000 used car buyers points to a return to consumer confidence in the used car market, especially around affordability.
So, it looks like it could be a record year for used car sales, but this all depends on what kind of vehicles dealers choose to stock and how they decide to price them.
The decrease in the value of typical ICE stock and the ‘price correction’ we saw in the electric vehicle market over the past 12 months doesn’t mean that we are out of the woods yet.
I still think the prospects for the rest of the year are very positive, and the findings by Auto Trader are very encouraging too, so I think 2024 could be a fantastic year for dealers selling used cars on finance.
Considering the opportunities ahead, I seriously think that dealers are going to need a flexible, adaptable finance company that understands used car buyers who need to finance their next used car.
Call me biased, but it’s my opinion that dealers have got to consider partnering with First Response Finance in 2024.
I’ve worked for the company for more than 14 years now and in that time I’ve spoken with thousands of dealers, and they love how flexible our criteria are, how hard we work to get deals over the line and – most common of all – how good our service is come rain or shine.
As the old saying goes, you have to make hay while the sun shines!
So, if you don’t currently work with First Response Finance and would like to discuss how we can help you make the most of the rest of the year, click here to get in touch, visit our dealer site to find out more, or give us a call on 01156 711755.
This column appears in the current edition of Car Dealer – issue 194 – along with news, reviews, features and much more! Click here to read and download it for FREE!
