AM Online

First used car price rise in 11 months says Autoquake

Used car prices have stated to fall for the first time this year following an unprecedented rise in costs for 11 months, according to Autoquake.com.

The value of used cars traditionally starts to fall after the spring, but this year there has been a steady increase in price. However, over the past month the price rises have reversed, said the website.

“After months of rising prices, we're seeing signs that the used car bubble has burst,” said Fredrik Skantze, Autoquake.com's co-founder.

“Values at auction have begun to slide, and our prices are lower than they were a month ago.”

A car which would have retailed for £10,000 on Autoquake.com a month ago is now typically listed at £9,312 - a drop of £688.

Vehicles that have seen the sharpest falls over the past month include the Renault Laguna which has seen an average drop of 14.8% or about £532.

The Vauxhall Vectra saw a drop of 13.9% or £645. A second hand Saab 9-3 was 11.8% less - a price cut of about £1,151.
 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.