Evaluating Auto Trader’s used car records, which account for nearly 70% of all the second-hand vehicles offered for sale by dealers, EurotaxGlass’s found that asking prices for small three-year-old cars in the Midlands average £5,500. This is around £350 less than in the south west, where asking prices for second-hand superminis are highest.
After the south west, the second most expensive region for used superminis is the south east, with East Anglia in third place, tracking slightly higher than the national average of £5,675.
Adrian Rushmore, managing editor at EurotaxGlass’s, said: “These regional differences in asking prices are affected by local patterns of supply and demand, as well as by the willingness of prospective buyers to travel to make a purchase.
“To secure the best deals, it is clear that consumers must be willing to look outside their local area.”
The new asking price data was generated for stock profile intelligence (SPi), a service jointly developed by Auto Trader and EurotaxGlass’s that allows car retailers to see how competitively their used car stock is priced within their local area. The service also reports on expressions of interest from prospective used car buyers searching for vehicles advertised online.