To more consumers, the car has become a commodity rather than an object of desire. And the economic climate in the UK has changed considerably.
We are now in a world of relatively low and stable interest rates, strong employment and good standards of living and there are also many ways consumers can spend their money.
Ten years ago no one had broadband, mobile phones were reserved for the wealthiest, satellite TV was new and anyone with a computer in the home was considered a geek.
And house prices were low so mortgage repayments did not syphon away as much of a person’s income.
Cars are better today than ever – more reliable, safer, less polluting, more comfortable and more fuel efficient. Despite this people pay less for their used car than ever.
Here are some comparisions of current values with those of the Nineties:
|1.8 LX 5-door||1.8 LX 5-door|
|Price new||1993 £13,380||2003 03 £14,440|
|Used price*||1996 £4,975||2005 £4,075|
|1.4 LS 5-door||LS60 1.4 5-door|
|Price new||1993 £9,690||2003 03 £3,425|
|Used price*||1996 £4,400||2006 £3,425|
|318i SE 4-door||318i SE 4-door|
|Price new||1993 £17,400||2003 03 £20,720|
|Used price*||1996 £9,424||2006 £8,600|