08 reg plate

By Ross Pinnock

14th February 2008

	Next month’s new plate will swell the number of vehicles on sale at auction

The introduction of the 08 plate next month will put added pressure on used values, according to the Society of Motor Auctioneers (SMA).

The March registration accounts for 20 per cent of new car sales every year, and ex-fleet models from leasing companies – plus part-exchanged motors from retail customers – will swell the number of vehicles being sent to auction.

Resale prices have already failed to bounce back from the traditional winter slump, and the extra cars resulting from the new 08-plate will compound the problem.

“There will inevitably be additional pressure on prices over the next few months, and this presents a great buying opportunity at auction,” claimed a spokesman for the society. As a result, the SMA has warned vendors to properly prepare cars or face a lack of buyers and low sale prices. It has stressed the need to set realistic reserve values in order to attract bids, and to ensure all documentation is complete.

Meanwhile, when it comes to selling old motors, owners now have another option if they want to advertise online. JustGoodCars.com (left) is taking on established sites such as Exchange & Mart, with a unique selling point: posting adverts is free.

Devised by the ebookers.com team, the new site has more than a million cars for sale across Europe.

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