Used fall – buy now
August 5th, 2010 by Richard Aucock
USED values have dropped to their lowest point in over a year which has led to one car dealer to issue a striking call.
Auction4Cars is telling customers that there has never been a better time to buy.
This is because used car prices have declined equivalent to a 20 percent fall since the highs of January. That figure comes despite a 6 percent rise between May and June.
The average used car price is now little more than £2400.
Several factors have led to this fall, including uncertainty about the new government causing a fear of budget cuts.
Indeed, falls have sped up since April, with prices remaining higher in January as bad weather prevented trade buying.
Neil Prescott from the trade-only sales division’s parent Motorpoint, said: ‘We’re seeing a very different scenario from a year ago where a shortage caused a used car price hike.
‘This time around it is likely to be down to external trends affecting the market.’
The outlook, he adds, is also far from positive. ‘The next six months will likely see demand continuing to cool and prices dropping slightly further.’
Tags: auction4cars, motorpoint, prices, rv, used, values