Irish second hand Cars Market Declines
As money gets tighter and the world recession hits every one of us it not strange that new car sales are down 60% since January 1st. This will continue and wont change
People who have money will not go spending it on expensive motors, (what would everyone think and say) and are choosing to wait and see what happens in the markets and economy.
Those that have second hand cars are also not changing their vehicles unless its broken beyond repair or crashed and are repairing it instead. Ask any car mechanic mechanic and he will tell you he has never been busier. So too are all those industries associated with the motor industry from the guy who repairs second hand clutches to the scrap yards and car dismantlers as recycling parts is now the in thing to do.
Before when Ireland was at its height of success people were buying new cars or replacement cars when the bill to repair the car was more than 200 euro, getting a trade in on their old car and upgrading to a newer model.
Now however the money is tighter, banks aren't lending and people who had no problem getting loans a year before now couldn't rent a bike as the credit disappears.
Recently I found out about a guy who was trading in his 07 land cruiser because the tyres were bald. He could afford the monthly repayments to the bank, but not the 1200 euro to replace his tyres.
Now the banks will not give loan approval on another vehicle and he's stuck with a vehicle he can't a repair as is the situation with lots of people in Ireland today. So what do we do.
Answer is nothing as long as the economic crisis continues then the car dealers will not be able to sell cars, new or secondhand and will not see the record breaking figures of two years ago again.
Car dealers with cars for sale will now have these motors on their carlots for a while longer
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