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Car loans customers 'could see prices drop'

Small new and used car dealerships could increasingly trade online as prices are expected to drop, a new report suggests.

Small new and used car dealerships could increasingly trade online as prices are expected to drop, a new report suggests.

The UK Car Dealers Market Development Report, by independent consultancy firm Market and Business Development, said that competition in the market could drive small traders to move their operations into other areas to compete with the larger dealers.

It was noted that the value of new car sales was expected to drop by the end of 2007 by around two per cent and that this could create more market competition, which could be good news for customers seeking new car finance deals in 2008.

It also suggested that motorists could see more dealers moving to online trading as the number of new and used car sites could soon be half the current level of around 5,800.

In related news, the Times reported this week that Fiat was to celebrate winning the European Car of the Year award for its new 500 by releasing a range of merchandise - including a computer mouse in the shape of the vehicle.


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