Market Update – November 2021
Welcome to our Market Update – November 2021.
Christmas is only a month away and there’s still lots going on in the car market!
Here’s the latest headlines to keep you up to date with what’s been happening in November.
Dealership stock levels
There continues to be a shortage of quality vehicles due to the high demand for Prestige, Sports, Classic and Supercars, as well a microchip shortage delaying new car production. We are still seeing some wonderful vehicles coming to the market through dealerships and private sellers. However, they are selling fast, so we would recommend getting yourself in a position to move quickly if you are looking to buy.
If you are searching for your dream car, we would suggest using trusted websites such as Autotrader, PistonHeads and Carwow. Also, don’t forget your dedicated Account Manager here at Oracle will be happy to help you with your search.
Car Events are back with a bang!
The NEC Classic Motor Show returned earlier this month after a year of absence. Some of our friendly team attended the event and had a great time speaking to so many classic car enthusiasts and are now enjoying helping arrange funding solutions tailored to their needs.
The team loved attending Silverstone Auctions live auctions throughout the weekend, being on hand with expert information to help people get behind the wheel of their dream cars.
As well as attending the live auctions, it was great to catchup with our partner Porsche Club GB and have a chance to admire some of the stunning Porsches they brought to Classic Motor Show. For our full overview of the NEC Classic Motor Show click here.
If you’re thinking about attending a motor show in 2022, keep your eyes peeled for our upcoming blog on the ‘Best Motor Shows for 2022’.
Personal Contract Purchase (PCP) on electric vehicles
We are seeing the demand for electric vehicles continue to grow, especially since July when we were able to start offering our customers PCP on electric vehicles, as well as traditional hire purchase and lease purchase products.
There are already some fantastic electric vehicles available, with more to come from the likes of Porsche, Audi, Tesla, Mercedes-Benz and Range Rover in 2022.
If you are interested in an electric vehicle, speak to our expert team for more information or to get a free quote. You can get in touch by calling us on 0800 012 6666 or by clicking here.
Re-financing your current agreement
With vehicle stock levels remaining lower than normal, we have seen an increase in customers opting to re-finance their balloon payment, so they can keep their current vehicle, without having to pay it off in full. If you’ve got a balloon payment due, whether your agreement was arranged through Oracle or elsewhere, we’d love to organise a finance package tailored to you.
If you’re mid-way through your agreement and are looking to reduce monthly payments or accelerate your path to ownership, then we would recommend speaking to our expert team who will be happy to revisit your current agreement.
Did you know you can release equity from your vehicle?
When speaking to new customers we often find that many don’t know that it is possible to release equity from a high value vehicle.
If you’re looking for a cash injection, perhaps for a property investment, a business venture or to add another car to your collection then you may be able to release equity from your current vehicle.
If you’d like to know more about releasing equity from your vehicle, contact our expert team on 0800 012 6666.
For a free car finance quote, simply click here and complete our short online quote form.