With less new cars available to purchase, which was a clear result of the pandemic, we saw a rise in popularity of used cars in Northern Ireland, so the question is, should you buy a used car in 2022?
Car manufacturers encountered a couple of issues such as shortages in vital materials used in car manufacturing such as:
- Copper
- Aluminium and
- Cobalt
Along with the above was the problem of chip shortages which slowed down the process of creating new car models.
Since 2019, we saw the purchase of 2.2 million worth of used cars in the UK.
So What’s Currently Affecting the Car Market?
Pandemic
One of the obvious reasons is that many car manufacturing companies were closed which meant there was little to no work on cars being done around 2020.
While 2021 saw a fractions of normality coming back in relation to non essential companies opening back up, car manufactures had to debate their way into being regarded as essential.
Chip Shortage
Chips are the most important component when building a new car and almost every element comes down to this, whether it’s windscreen wipers or electric car batteries.
Struggling with a shortage of chips was probably the biggest influencer in car manufacturing slowing down so vastly.
So is it Good to Buy a Used Car now?
While owning a used car nowadays is great in that you can make better money from selling it, it’s not the best time to buy one.
Due to less new cars on the market, we saw a massive increase in used cars. (As much as 59% since 2019).
Buying a used car may still be a better option than waiting for a new one and still paying a pricey sum. These sky-rocketing prices of used cars are not going away any time soon so it’s a good idea to get familiar ways of finding good deals.
Ways of Finding Affordable Used Cars
Looking out for when car dealers are clearing out the older cars and replacing them with new models is a good way to start. While you may be eager to get the new model as quickly as you can, waiting till the end of the year will definitely save you some money.
You’ll see used cars being offered at discounted prices at the end of the year, since new year means making space for newer cars.
Buying out of season is the smart option of purchasing a used car.
A simple tip that will save you some money is looking up insurance quotes before you make any rash decisions and buy a car.
This way you’ll know exactly what you’re in for and won’t be surprised with high quotes after the car is already outside your house.
Even though buying used cars in Northern Ireland for a good price is quite challenging nowadays, it’s not entirely impossible.
What will help you in this process is knowing a car dealership selling top-tier used cars for cheaper prices. Carlover in Belfast is the place to start browsing, whether you’re living in the North or are purchasing from the Republic.
Take a look for yourself and see!
