It used to be called late summer madness.

Every year, towards the end of July, financially primed car buyers would descend on the nation's car showrooms in search of 1 August registrations: instant 'look-at-me' gratification combined with slightly enhanced re-sale value.More recently, however, late summer has become the time to buy a new car as manufacturers attempt to claw their way out of recession with attractive deals and packages.This year, some 300,000 motorists will be able to choose from 2000 models, many on offer at the lowest prices seen in the UK for years.

The recession may be officially over but its impact continues to rumble through the infrastructure of the motor trade.Despite an apparent 10% increase in car sales over the past year, manufacturers are still having to work hard to find customers.

Analysts say much of the upturn in sales is a result of manufacturers falsely registering cars at the end of each month to beef-up their market share.

Taking this into account, the real increase could be just 3% to 4%.The situation in mainland Europe remains grim.

Car makers are struggling to keep factory stocks lean without laying off workers.

The result of economic uncertainty, however, is a host of bargains for British buyers.But there is a second reason why prices are depressed.

It is linked to the new company car tax regime introduced last April.

By being based on a straight percentage of a vehicle's list price when new, this encourages company drivers - who account for more than 40% of new car sales - to opt for low-priced models.

So with reduced equipment levels, manufacturers have been forced to take a smaller cut while dealers squeeze their margins.There are even some cars on which dealers are believed to make no profit at all.

These include Ford's Probe coup- and certain special editions from Citro-n, Rover and Nissan.

The official line from salespeople is that there are no discounts on such models but the truth is that manufacturers pay dealers a fixed fee - typically £350 to £500 - for each of these cars they sell.

There are also bonuses worth up to 3% for hitting sales targets and further incentives for meeting quality standards.

All of which means that it should hardly ever be necessary to pay list price.

Do not let anyone tell you that this is not a buyer's market.So, with that in mind, here are four best buys to consider for 'M day'.-- Seat's Ibiza 1.4 Impact 3-door.

List price on the road: £7445.

Discounted price on the road: £6607.

Insurance group: four.

Top speed: 98mph.

0 to 60mph in 13.9 seconds.Ibiza dealers have scope to offer up to a 10% discount on this model.

Seat's personal contract purchase (PCP) scheme works out at £112 a month, for 12,000 miles a year.-- Renault's Laguna 1.8 RN.

List price on the road: £11,125.

Discounted price on the road: £9839.

Insurance group: seven.

Top speed: 112mph.

0 to 60mph in 13.7 seconds.An encouraging 14% discount makes what is arguably the world's best family hatch attractive to cash buyers.

It would be wise to avoid the company's own PCP scheme, however, the repayments, at £191 a month, are steep.-- Mercedes-Benz C180 Classic.

List price on the road: £18,024.

Discounted price on the road: £17,488.

Insurance group: 11.

Top speed: 119mph.

0-60mph in 12.2 seconds.Despite appearing expensive, the C-class enjoys snail's pace depreciation.

This is reflected in the personal contract deals.

At £199 a month for three years, the C180 is 10% cheaper to acquire than a Ford Mondeo 1.8LX.-- Citroen ZX 1.4 Provence 5-door.

List price on the road: £10,015.

Discounted price on the road: £9099.

Insurance group: six.

Top speed: 107mph.

0 to 60mph in 11 seconds.This is the best deal of all.

Order a Provence by the end of August and you will qualify for free insurance if you are over 21.

Citro-n's Elect 3 PCP scheme is just £99 a month.

Alternatively, you can take advantage of a year's interest-free credit.All discounted prices above supplied by car broker, Carfile.