Looking for a new car?
It might not be all good news, however. The price of a new car purchase could rise, at least in the short term, as dealers who anticipate uncertainty in the market may increase their prices to cushion any unexpected bumps down the road, so to speak.
Rupert Pontin, valuation director at Glass’s Guide, said that buyers could expect ‘a period of instability for new and used car sales’.
There could be other variables that could affect the car market in the future too. For example if import/export duties change, or if the domestic car manufacturing market is impacted as a result of Brexit. Of course, any change in the economy could affect this industry, as well as the car sales sector.
If you’re looking for finance for a new car though, interest rates are currently at a historically low rate, which could make this a good option as long as you can maintain your repayment schedule.