It has been reported that average used car values have remained static from October to November. The average used car sale price remains at £5792 - a drop of nearly 2 per cent from the same period last year. The news is not all bad as this figure is nearly £1000 higher than the average selling price for a used car in November 2008. Fleet vehicles have also been party to this trend, with approximately £600 being knocked off their average sale value in just 8 weeks.

Adding to the woes of used car dealers is the news that the quantity of nearly new and part exchange vehicles available for sale has fallen. This, coupled with the freeze of used car prices, is not altogether unexpected as the Christmas season traditionally affects such factors in the used car market. Car dealers are aware that this is one of their slow periods and will have accounted for this accordingly.

The impending VAT increase may help to improve sales of used cars, and it is thought that many motorists who might have been considering a new car will now look for a used car that is less than 12 months old. This will help them save a great deal of money on the equivalent new price.

Budget used cars are among the most popular at the moment, to the degree that there is actually a shortage of cars that fall into the £1000 to £3000 price bracket.

published: 10/12/2010