Used car prices recover after sticky start to the year
Used car dealers are reporting strong demand for used vehicles.
Used car dealers are reporting strong demand for used vehicles, continuing on from their good performance in the UK in April and May.
Prices of some used cars have actually seen increases, according to publications like Glass’ Guide and Parkers. Small cars have been bucking the market trend for some time, with the likes of the Ford Ka, Fiat Panda and Peugeot 107 offering great value and cheap running costs. With the high cost of fuel, it is no wonder that consumers are transacting with dealers and trading in their older, inefficient cars for newer cars with lower cost of ownership.
The scrappage scheme has followed the same trend with the likes of Fiat, Ford and Vauxhall enjoying increases in new car orders, mainly in the supermini sector.
Somewhat surprisingly however, the price of some gas guzzling 4x4 vehicles has also increased. Looking into the detail, following month upon month of falling prices, these cars are now at a level where they are great value for money for consumers. With the Porsche Cayenne available in the classifieds at £12000 or even less, and 3 year old Range Rover Vogues changing hands at around 30% of their new list price one can understand that they are now incredibly affordable examples of luxury motoring.
The market is polarised, and it seems that there are great deals to be had at both ends of the spectrum.
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