New data from CarGurus has highlighted Liverpool as the cheapest place to buy a used car as it created a ranking of the most affordable and most expensive cities across the UK.
More than 200,000 used car listings were analysed to create the league table which revealed that cars were, on average, 2.3% cheaper on Merseyside than the national index.
Plymouth was ranked as the most expensive city according to the study, with prices 5% higher than the national index.
CarGurus’ Sarah Welch said: “Our data shows that prices for comparable used cars do vary quite a bit across the nation.
“Although not all consumers will be willing to travel afar for a deal, this research shows that motorists can sometimes benefit from expanding their search radius when shopping for a bargain.”
Cities that are located in close proximity to other major conurbations, for example Manchester, Nottingham, Sheffield and Birmingham, generally have lower prices than more isolated cities such as Norwich, Bristol and Plymouth, according to CarGurus.
Analysts say there is no one definitive explanation, but it’s likely the higher concentration and proximity of competing dealerships drives prices lower.
CarGurus’ most affordable/most expensive city rankings are based on aggregated data for each local market and there are many examples of savings opportunities on specific models.
The market price of a 2013 Volkswagen Golf is on average £11,777 in Plymouth, versus only £10,755 for a comparable car in Liverpool, resulting in a potential saving of £1,022.00.
A fair deal for a 2013 Ford Fiesta would cost motorists in Plymouth on average £7,927 while Liverpudlians would fork out £7,387 – a saving of £540.
Motorists in the capital will be pleasantly surprised, as for once, London isn’t the most expensive place to make a purchase, ranking as the sixth most expensive city, with average prices 1.5% higher than the national index.
With some models, the difference between prices in London is even more substantial. A 2013 BMW 3 Series would cost Londoners £15,852 for example, while in Belfast a comparable model would cost £17,053.
According to CarGurus data, the average price of a used car in the UK is currently around £12,074.