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Buyers urged to snap up bargains

Mar 27 2009

Car buyers are being warned that now may be the last chance they get to snap up a cheap car, because many manufacturers are set to increase prices.

According to SaveMoneyOnCars.co.uk, manufacturers could be about to put up the cost of their new cars and as such people are being urged to buy early.

However, the move could result in an increase in demand for used cars, as a greater number of people find themselves priced out of the new car market.

The car industry has suffered badly from the impact of the global credit crunch and as a result has lowered the cost of new cars over the past few years.

However, as the value of the pound falls against the euro and the US dollar, many manufacturers will be forced to up prices to counter rising import costs, the website claims.

Although that could result in even fewer new cars being sold, those in the used car market could see more people coming to them in search of a bargain.

US car manufacturing giant FORD has recently announced that it is pushing up the cost of its new cars because of the impact of the weak pound on its import costs.
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