Demand for cars under £1,000 now exceeds current levels of supply.
The UK’s top 10 bargain cars receive over 30,000 daily searches on AutoTrader.co.uk, yet there are only 4,000 cars available on the website to meet these levels of demand.
The disparity is further highlighted by the UK’s most wanted bargain vehicle, the Vauxhall Corsa, which receives over 5,000 daily searches compared to 500 available vehicles.
The data suggests that it’s a seller’s market for bargain cars and indicates that now could be the ideal time to get the right price for a popular lower value vehicle.
“As rising running costs continue to affect motorists in the UK, shopping for smaller and lower priced cars has become increasingly competitive,” said Ian MacDonald, e-marketing manager at Auto Trader.
“The flip-side of our data, however, provides a silver-lining for those looking to sell their car as there’s never been a better time for it.
"We know how much every pound counts with bargain car sales, so it’s important that motorists look around for the best deals to ensure they keep as much of the profit from their sale as possible.”