In Ireland The Used Car Markets Decline

As the global recession hits hard its no wonder that the sale of new cars are down by 60% in Ireland since January 1st to date. This wont change for a while yet.

People who have money will not go spending it on expensive motors, (what would everyone think and say) and are choosing to wait and see what happens in the markets and economy.

Those that have used cars are not changing them unless broken beyond repair and are fixing them instead. Ask a car mechanic if hes busy these days and he will say he has never been busier. so are all the industries associated with the industry from the guy who supplies tyres to the guy who sell second hand parts as reusing parts is now the green thing to do.

Before when Ireland was at its peak people were buying new cars or replacement cars when the repair bill was more than 200 euro, getting money on their old car and upgrading to a better car.

Now however the cash is tighter, banks aren’t lending and those who got loans easily a year before now couldn’t rent a bike as the credit dries up.

Recently brought to my attention was a guy who was exchanging his 07 land cruiser because the tyres were bald. He could afford to pay the loan, but not the 1200 euro to replace his tyres.

Now the banks will not give loan approval on another vehicle and he’s stuck with a vehicle he can’t a repair as is the situation with lots of people in Ireland today. So what do we do.

Simple answer is nothing as long as the economic crisis continues then the car dealers will not sell cars, new or used and will not see the record breaking figures of two years again.

Car sellers with motors for sale will now have these cars on their forecourts for a long time to come.

Learn more about Used cars for sale.

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