Tuesday, February 10, 2009
Finance for Car Purchases
Almost 300,000 motorists have had applications for car loans rejected during the past six months, according to research by online financial comparison site www.moneyexpert.com.That’s equivalent to 1,600 people every day. It is the best indication yet that there is ample demand for new and used cars, but dealers have to encourage these potential buyers to visit the showroom and consider point-of-sale finance instead of approaching the banks. In addition, training firm Martec Europe reports that its dealer clients received, on average, two more telephone enquiries a day in January compared to a year ago.“There are prospects out there,” said Martec’s Neil Pursell.
Several retailers have reported immediate success as a result of interviews and promotions with their local press, outlining why there has never been a better time to buy a car. Volvo/Jaguar retailer John Cleland in Galashiels, Scotland, resorted to placing an advertorial in his local paper after reporters decided a good news story was of no interest.“As a consequence we have never seen as much Saturday showroom traffic,” he said. “We need to get our motor trade bodies to lobby the press and media to stop putting a downer on life – we know we are in recession, help us all climb out of it.”
Daksh Gupta, chief executive at Marshall Motor Group, reports that during one week in January the company had its third best order take since it started keeping records. Marshall also sold 70 Land Rovers, Jaguars and Volvos over one weekend from nine sites.“This has definitely helped in terms of getting our sales people to be positive by reminding them of all the reasons why customers should buy now,” Gupta said. BCA UK managing director Andrew Hulme believes the industry should consider March 1 as ‘Christmas Day’ and tailor all its publicity towards the plate-change.
“A compelling, co-ordinated advertising and marketing programme supported by all interested parties is a must,” he said. “The availability of finance is a fundamental part of the equation and we must continue to lobby Government to encourage the banks to return to more normal levels of lending.“Christmas in March is an opportunity too good to miss and BCA will offer its full support.”The message is getting out.
Consumer group Which? has issued a press release detailing some of the offers that are available.Richard Headland, editor of Which? Car, said: “You could say there’s never been a better time to buy a car. The downturn has thrown the car industry into turmoil and that means there are some amazing car deals available – whether you’re looking to buy new or used.”
DATED: 10.02.09
FEED: AM
Several retailers have reported immediate success as a result of interviews and promotions with their local press, outlining why there has never been a better time to buy a car. Volvo/Jaguar retailer John Cleland in Galashiels, Scotland, resorted to placing an advertorial in his local paper after reporters decided a good news story was of no interest.“As a consequence we have never seen as much Saturday showroom traffic,” he said. “We need to get our motor trade bodies to lobby the press and media to stop putting a downer on life – we know we are in recession, help us all climb out of it.”
Daksh Gupta, chief executive at Marshall Motor Group, reports that during one week in January the company had its third best order take since it started keeping records. Marshall also sold 70 Land Rovers, Jaguars and Volvos over one weekend from nine sites.“This has definitely helped in terms of getting our sales people to be positive by reminding them of all the reasons why customers should buy now,” Gupta said. BCA UK managing director Andrew Hulme believes the industry should consider March 1 as ‘Christmas Day’ and tailor all its publicity towards the plate-change.
“A compelling, co-ordinated advertising and marketing programme supported by all interested parties is a must,” he said. “The availability of finance is a fundamental part of the equation and we must continue to lobby Government to encourage the banks to return to more normal levels of lending.“Christmas in March is an opportunity too good to miss and BCA will offer its full support.”The message is getting out.
Consumer group Which? has issued a press release detailing some of the offers that are available.Richard Headland, editor of Which? Car, said: “You could say there’s never been a better time to buy a car. The downturn has thrown the car industry into turmoil and that means there are some amazing car deals available – whether you’re looking to buy new or used.”
DATED: 10.02.09
FEED: AM
