Drivers can grab a bargain as car market tanks

New-car buyers have the opportunity of a lifetime to bag themselves a bargain on the forecourt, experts have claimed.

With the motor industry on shaky legs, dealerships are bombarding consumers with offers and incentives in a bid to shift some vehicles during this difficult period.

“Right now, it’s an epic fire sale. We’ll never see this repeated. If you’ve got the money, now is the time to buy. It won’t be this good again,” said Channel 9’s motoring expert John Cadogan.

Motorists may wish to apply for a car loan in order to take advantage of the deals, which include extended warranty, free on-road costs and prices dropped by as much as $10,000, according to the Telegraph.

However, some experts have warned that it may be increasingly difficult to get hold of a car loan in the coming months, with GMAC and GE Finance both exiting the market.

Their departure was announced after the shockwaves of the financial crisis ripped through the auto industry in the US.ADNFCR-1761-ID-18892456-ADNFCR