The Growing Role of Used Cars for Central Coast
Why have used cars taken on so much importance in the lives of Australians lately? A number of concepts and ideas dominate this discussion, from better construction, to a tough market, to the loss of a new car as a status symbol. In all likelihood, it is a combination of the lot of them.
Like every competitive industry, the automotive sector has been able to learn from its mistakes. The same mistakes have not typically been repeated, at least, not among those carmakers who remain relevant today. Any severe defects – such as the fuel lines in the Gremlin or the tank bolts in the Ford Pinto – are punished severely by buyers and those in the press, who along with regulators, have a vested interest in consumer safety and the legitimacy of a purchase. With a century of true lemons behind us, the standard has broadly risen, across the board.
The market situation for expendable income in Australia has also shifted somewhat. With exceptions, such as the commodities boom in WA, more and more of our equity is being placed in real estate, as the cost of it has risen far more than the comparative rise in wages. Pricing is essentially pushing out our available income for new items, including cars, so we are suddenly much more likely to consider a used car – as it is the only option.
Lastly, the status element of a new car has fallen off. That proud moment when you drive a brand new car off the lot and in to your drive seems to have fallen flat of late, as the financial reality of the Generation X cohort – and their decrease in real wages – has been realised.
Hence, the importance, and the popularity, of premium used cars for the Central Coast and all of Australia.