As evidence mounts that many people intend to avoid public transport in the wake of the Covid-19 crisis, new figures reveal that buying a car instead can be a budget-friendly solution for many. The online car supermarket BuyaCar.co.uk has published a list of ten cars that could cost less to buy, fuel, insure, tax and service than a range of rail season tickets.
Retrofit add-ons like big bore exhausts, aftermarket alloys and tinted glass can put off potential used car buyers and destroy values, says Glass’s. Andy Cutler, forecast values editor, explained that these non-manufacturer options suggested that the previous owner was a boy racer and the car would have been driven hard.
My Car Check’s valuation experts reveal significant trends in the UK used vehicle market and choose a car and bike of the month. Head of valuation services Gavin Amos said: “The launch of the new Mercedes C Class has made the previous generation models a great value route into this prestige brand. All 2007 onward derivatives are well built, drive beautifully and can stand the miles, with the economical yet powerful diesel variants particularly desirable. There are plenty out there to choose from and full main dealer service history is always a good start.”
Potential buyers of higher value used cars appear to be holding back until the outcome of the UK’s referendum on its membership of the European Union is known, according to vehicle data provider, Glass’s. The company is increasingly hearing anecdotal evidence from dealers that cars priced over £15,000 are struggling to sell; it suggests the potential withdrawal of the UK from the EU could be the cause.
Analysis of My Car Check data for the year to end of April 2016 has revealed the UK used vehicles most likely to have two serious warnings against them. The riskiest model in this regard was the Vauxhall Corsa SXI AC, with 6.25 per cent of those checked having both write-off and finance warnings, despite a reasonably high average value of £7,348.
Some late-plate Defenders are selling in excess of list price as the end of production leaves Land Rover aficionados to seek out the best used examples available, according to Glass’s. Demand is highest for the XS Station Wagon, fitted with half-leather and air conditioning, with prices in line with Glass’s top condition values and often beating them in closed sales.
New figures from My Car Check have highlighted the different risks associated with buying a secondhand electric or hybrid car. Most significantly, green machines are more likely to have outstanding finance than their petrol or diesel counterparts.
One of the less-frequently discussed consequences of the UK leaving the EU after June’s referendum is the effect on used car values, but leading vehicle data provider Glass’s says that there would be “significant uncertainty”, should this be the outcome, but points out that there are virtually no precedents on which to base the likely impact of a Brexit.
Head of valuation services at My Car Check, Gavin Amos, has named the Honda Civic as his car of the month, saying: “The Honda Civic is often overlooked in favour of the Ford Focus, Volkswagen Golf and Vauxhall Astra, but it drives well, competes in terms of emissions and fuel consumption, and can be a great fit for those wanting something a bit different. Check to make sure the one you’re looking at is clear of finance and not previously written-off, especially the very rapid Sport variants.”
National No Smoking Day falls on 9 March and serves as a reminder of the new law, which bans smoking in vehicles carrying children. Not only is this a timely health warning, but motor industry valuation specialist, cap, warns that smoking in the car can also damage the resale value of vehicles. With this in mind, cap urges car owners to stub out the cigarette for a healthier body and bank balance.
The growing popularity of 100 per cent road-going SUVs and CUVs is a recurring theme for Tyres & Accessories, and the latest report from Glass’s suggests that the used car market is increasingly amenable to some of the less lauded names in this field. Budget “soft-roaders”, as they are categorised in the survey, from less […]
New data from BCA, Europe’s largest used car marketplace, highlights the increasing financial pressure on the youngest motorists on UK roads. Price has always been critical to the youngest used car buyers. But research commissioned for the BCA Used Car Market Report shows that this has increased considerably in the last year. In 2015, 65 per cent of 17-24 year old used car buyers said that price had the strongest influence on their vehicle search – this was the highest percentage in five years and a 14 percentage point rise on the previous year.
Average UK used car values fell in September from the record levels achieved over the summer months as volume began to return to the marketplace, according to the British Car Auction’s latest Pulse report. The headline average value of a used car fell by £572 (7.1 per cent) to £7,429, with performance against CAP Clean falling slightly to 97.5 per cent.
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