Brexit - my views
The hot topic in the pub and everywhere else this week is the result of the referendum, and everyone wants to know what's going to happen- I’m sorry but I am not going to join that gang either predicting a wonderful future or a slide into recession, because, as I told all my staff last week, I believe our future is in our hands, as there are enough cars required in today’s world for one reason or another, so all we have to do is look after our customers, treating them as we would want to be treated and all would be OK.
However, it seems I am not alone because both our franchises, that’s Suzuki and Mitsubishi, are also looking for the good, or making the best of a bad job, depending which side of the fence you sit on, as both Suzuki and Mitsubishi have come out fighting with fantastic offers for the third quarter. They are showing no signs of panic, in fact the offers reflect just the opposite.
The Mitsubishi Outlander PHEV, the best-selling Plug-in Hybrid vehicle in the UK, has received extra support from Mitsubishi which means that this amazing game changing vehicle is now available with a combination of offers, resulting in over £8,000 of savings!
The new Mitsubishi L200 Pickup Series 5 released this time last year, is now available with £1000 finance deposit contribution in addition to the low rate and 0% finance offers which have not changed from last month, and finally for Mitsubishi the New model Mirage is now available with free leather seats, saving £1000 on last month’s prices – so I believe all in all, that's great news for the consumer.
In the Suzuki world, they have also upped their consumer offers, and are definitely increasing rather than decreasing their marketing - so you will soon see Ant and Dec back on TV with a completely new set of surprising Suzuki commercials, and some great new extra offers including 3 Years’ Free Servicing on the 5 Seat, 5 Door Suzuki Celerio with the same great value £6999 price point; the Swift SZ-L which had a launch offer of 0% finance with Zero deposit is continuing, and the best value deal I have seen in years is the Suzuki S Cross 1.6 5dr Crossover type vehicle, which competes against the likes of the Nissan Qashqai, Kia Sportage, Hyundai ix 35, Renault Kadjar, Peugeot 3008 and Mazda CX3 and is available this month with £3,000 off the price for just £10,999, after using £1000 finance deposit contribution, and even if you don't want finance, the rules permit you to take finance in order to make the £1000 saving and then pay off the lower finance balance within 14 days without incurring a penalty.
So there always are good times and not so good times to buy a new car, and if the Brexit decision proves unwise, our currency may drop in value, which would cause price rises, but as manufacturers set rates or buy in advance, they are still working on pre Brexit rates, and they are keen to push sales along, as the cars have been built and need to be sold.
If our economy takes a turn for the worse, they will simply send more cars to other countries and send less here, and allow prices to rise with currency, but at the moment the cars are here or on their way, manufacturers are working on old exchange rates, and want to make sure car sales at least for Suzuki and Mitsubishi do not falter, so it's definitely not as bad for the consumer as the BBC make out, and July is a really good time to consider buying a new car.
These are all my opinions, backed up by nearly 40 years in the trade – In that time I have been through many ups and downs, and seen periods when cars hardly depreciated, this was highlighted by the Suzuki Jimny - when currency was strong we were selling them new at £7999, and lots of them, but currency, recession etc etc drove the price up to £12,000/£13,000 so owners who had bought at £7999 were getting nearly all their money back when they sold them after 4 years!! Who knows the same could happen again, but there is one thing for sure, cars won't get any cheaper, the deals on new cars now are amazing with low interest rates as well - a strong market and a strong demand for used cars, which reduces the cost to change and reduces depreciation, are all working for the consumer in a rapidly growing market, so now really is one of those moments to buy a new car and where better to buy than from Luscombe Suzuki or Mitsubishi in Leeds!!
And it’s not just me who believes this, here is a quote from Car Dealer magazine – ‘Indeed, with low interest rates, attractive finance offers and a healthy used car supply, it could be argued that there has never been a better time to purchase either a new or used car.” Click here to view article in full
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