The change of the seasons from the balmy climes of August (well that was the plan), to the slightly cooler month of September reminds us that the onset of autumn is upon us, but more importantly, it’s new car registration month!
This event typically results in a huge spike in activity as vehicle buyers clamour to be one of the first in their neighbourhood to have that brand-new car with the latest registration plate. But, is this still the case in 2019?
The new registration plate has been a bi-annual event (March and September) since 2001, replacing the annual August registration plate change. Amongst other reasons, this was to maintain a more consistent level of business throughout the year, rather than have a significant decrease in new car registrations on the run-up to the new plate, followed by a massive rush for August.
Our experience within the motor trade and the current bi-annual plate change is that February is always quiet, being the shortest month of the year. A little more action is seen in August, but still less than usual as customers wait to take delivery of their cars in September.
Whilst chatting to an old colleague and good friend who has worked in new car sales for main dealers for upwards of 15 years and knows both plate scenarios well, he commented; ‘’The new registration plate was a big thing pre 2001. We would sometimes have people waiting for over two months to make sure they had it’’. He continues; ‘’Of course, there is still great interest in a new registration plate in March and September, but the six-month cycle lessens the effect and dates a new plate quicker’’.
Interestingly, he is having a strong August for new cars being delivered. So maybe the cachet of a new plate is still a consideration, but not as important as it once was.
Funding for a new car
No matter the time of the year, EFT Finance is the specialist for funding your car. This year, we have funded a record number of vehicles and this number is rising exponentially. The spread of cars is huge, from a brand-new Aston Martin DBS Type 59 and a triumvirate of Lamborghini Urus’s, to BMW M cars and Mercedes AMGs, to regular family cars.
Many of the EFT team are huge car enthusiasts and as keen to help with your hatch back and people carrier as we are your super car.
Don’t forget vans and other LGVs either. We have recently funded three Mercedes Sprinters, a Ford Transit Custom and a Ford Ranger.
We also fund classic cars, with the possibility of a ten-year finance plan (subject to terms and conditions).
EFT Finance is not linked to a specific manufacturer or funder. This allows us to have a large panel of motoring lenders and the knowledge of which one will work best for you, considering your credit profile, budget and future plans.
We also assist dealers with their funding.
When you are next purchasing a new car or even a fleet, ask us to help you get the best funding deal possible.
You can contact Neville Contractor on 07720 441738 or email Neville.