If you’re like most people in the market for a new (to you) vehicle, you’re probably allowing the state of the economy to factor heavily in your decision-making process. What this means is that you are likely leaning towards purchasing a used vehicle rather than spending more on a new one when you could face unemployment (and repossession) at any time. Most people these days simply don’t feel like they can afford to take a risk on a new car (even if their finances would allow it). But considering that the price of used cars has gone up significantly over the last couple of years, you may want to rethink your strategy. Here’s the why and how of it.
First of all, you should be aware of just how much prices have gone up. Kelly Blue Book has shown an estimated increase of 39-45% on vehicles that are three years old (the most popular amongst those seeking used cars). And used-car retailers are reporting price bumps of $1,000 to $2,000 across the board, which means you’ll get more on a trade-in, but you’ll also end up paying more when you purchase a used car.So how did we get here?
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Daihatsu will withdraw from all European markets by January 2013 because of the continuing strength of the Yen the company has announced. There are currently no cars in stock at dealerships, and importer International Motors says it is unlikely that any more will be imported between now and the official withdrawal from the UK and other European markets. In the interim, parts, servicing and warranty work will still be carried out. The company website is now just a lonely single page with a list of dealers and the terse, if heartfelt message: “We thank Daihatsu customers for their past custom and loyalty, and share their disappointment at this news.”
What will thousands of pensioners do now? Is it just the Yen behind this move or is there something else? Suzuki recently had to recall 177,692 of its WagonR and six other mini models including those it produces for other automakers because of defective door parts, but that doesn’t seem to have put it off maintaining a European presence, despite the evident disadvantage of the Yen’s strength. Of course, Suzuki has enjoyed some pretty good results in India, which help to subsidise the UK and European market.
Daihatsu models like Copen had made inroads into a much younger market. Looking like a Corgi version of the Audi TT, the Copen was and is undeniably cute! Driving one meant that women would point and want one while men would look for the hole in the roof where the key went in! Some drivers seemed to be more willing to let the Copen pull out ahead of them at junctions while cyclists appeared to fancy their chances in a game of chicken!
Build quality did seem to vary across some of the range though. Models like the Terios, whilst being an attractive package in terms of cost and real off-road capability, had a notoriously bumpy ride. The Materia is a striking design that drives well and has a reasonable amount of space. The Sirion is nippy city car similar to Subaru’s Justy and although it was never going to challenge the Panda it did feature surprising frequently in the records of temporary car insurance providers, indicating that lot’s of people actually bought one and were willing to lend it out too. Daihatsu were undeniably a popular brand with a pretty loyal following. They were city car specialists, offering small cars and nothing but small cars, so you would think that they had a bright future?
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Have you ever found yourself lusting after your dream classic car? That beautiful Jaguar E-Type? A Mercedes 300SL or a Porsche 356 perhaps? The chances are that owning and running one of these beauties will be pretty far out of your price bracket, but fear not, a solution exists for just £3,000.
These fantastic looking roadsters come from the Harrington Group and are accurate half scale models of some of the finest cars ever built. They feature composite bodywork, disc brakes, reverse gears, electric start, working lights and horns, and are powered by 110cc two stroke quad bike engines with a top speed of 43mph. They also produce electric versions, but these top out at a paltry 14mph. The best feature though, as you can see from the pictures is that they are large enough to fit adults as well as children!
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Do you need a new car?
You do not need to sign up for a loan and let the banks suck your blood and earn on your new car.
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