Covid-19 To Lead To Used Car Market Boom?

There could be a surge in the number of people buying used cars over the next few months, as a direct result of the coronavirus pandemic.

GoCompare Car Insurance has highlighted the fact that as manufacturers have been unable to continue work on new cars due to lockdown restrictions, new car production in Britain fell by 99.7 per cent in April.

In addition to this, the government’s recommendation for commuters to avoid travelling by public transport could mean more people are considering purchasing a vehicle of their own. However, with few new cars coming on to the market, they will be forced to look at older models to get around.

Founder and chief executive officer of GoCompare Lee Griffin said: “Car retailers are among the first wave of non-essential businesses to open.  But it will be months before vehicle manufacturers are back to full capacity. The motor trade is anticipating that the shortfall and the government’s advice to avoid public transport, will boost the second-hand market.”

The price comparison site warned car-buyers to make sure they are insured before taking motors out for a test drive, as the vast majority (92 per cent) of policies do not include this.

Consequently, they face prosecution if caught driving without insurance, which could result in six to eight points on their driving licence or a fixed penalty of £300.

However, there is the option to purchase short-term insurance protection or add the vehicle as a temporary vehicle on their current policy.

Those who purchase a used Land Rover or Range Rover should remember to get it serviced regularly to ensure it continues to run smoothly.

For a UK Land Rover service, give us a call today.

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