In a survey conducted by www.carbuyer.ie over a three week period from Nov 19th to
The first half of 2007 will see the maturity of the greatest number of SSIA accounts to date with 60% of all SSIA's reaching maturity between the months of March and April 2007. During this two-month period alone just over 640,000 people will receive an average of €13,800 each. The statistics from the new poll now suggest that anything up to a quarter of a million of these people may be planning to use this money to buy a new or used car early in the year.
The seasonal lull in car purchases in the run up to Christmas is always followed with an explosion of car sales early in the New Year. The year 2007 is shaping up to be a record breaker. Most buyers will be selling/trading their old car before buying another and with massive sales of new cars in the past 2 years, there should now be a good supply of quality used cars ready for sale. This will be a good time for both car dealers and car buyers across the country.
People who didn't start an SSIA savings account 5 years ago should not feel too left out. Indications are that there are likely to be a large number of great deals available on quality used cars over the coming months. With many dealers taking trade-ins, projections indicate that prices may have to be readjusted downwards in order to keep forecourt space cleared.
The Carbuyer survey also revealed that 52% of respondents would not be spending their SSIA's on a car, while a further 9% had not yet decided.