Used car values remain strong

The used car market is holding its own and remained steady throughout the summer, with diesel models remaining popular with trade buyers and larger vehicles performing better than expected.

The Market

September is traditionally a bus time for new car sales, and an influx of used cars often hit the market. However, it is expected that some of the big car manufacturers will be registering lower-than-usual numbers of vehicles this year, which means fewer part exchange vehicles will be on the market. This is good news for those in the second-hand car market as it means their value will remain competitive and the demand will be high. Sport Utility Vehicles (SUVs) are in particular high demand, with some dealers willing to pay the used car guide price to secure a sale.

The end of the road for the much-loved Volkswagen Beetle recently hit the headlines, with many blaming the fact that cars are no longer part of the family. The Guardian reports that cars are now seen simply as a necessity to get from point A to B, but many car lovers would disagree and argue the love of the motor vehicle is as strong as ever.

Companies that have a fleet of cars may also be looking to extend their contracts in a cost-saving exercise, which will also reduce the number of second-hand cars available on the market. Motor trade insurance companies such as https://www.quotemetoday.co.uk/motor-trade-insurance can put all company vehicles under a single flexible policy, making the process easy and straightforward.

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Benefits

There are many benefits to buying a used car, and the most notable one is that there is much less depreciation than when buying a new car. It is often this fact alone that attracts customers to the used car market.

New models smell nice and look shiny, but this doesn’t last forever. In addition to being more expensive to buy, they also cost more to tax, so opting for a slightly older, secondhand vehicle means you can knock a substantial amount off the cost. In addition, you won’t have to wait. Once you’ve made up your mind, you can drive your new car away almost immediately, whereas with a brand-new car, you often have to be patient while it is delivered to the showroom or car dealer.

 

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