New cars below used!
October 9th, 2009 by Richard Aucock
USED car buyers may well save cash by choosing a NEW car instead, What Car? magazine has revealed.
The scrappage scheme means that many new cars are actually available for less than one year old ones.
No wonder editor Steve Fowler is calling it ‘a bizarre market.’
‘New car prices have already risen by 9.5 percent, but used car prices are an astonishing 30 percent higher than they were a year ago.
‘It’s long been the case that nearly new cars represent excellent value when compared to new, but not right now.
The magazine highlighted some examples:
• VW Golf 1.6 TDI S
Used: (59 plate, 200 miles): £16,200
New: £12,430 with scrappage and incentives
• Fiat 500 1.2 Pop
Used (08 plate, 23,000 miles): £6995
New: £6700 with scrappage
‘Even used car buyers who can’t take advantage of scrappage should consider buying new,’ advised Fowler.
‘In many cases, the difference can be less than £2000, and that can be eroded further when the extra year’s warranty and any low-rate dealer finance is taken into account.’
2009 just keeps on getting odder for car dealers…