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Figures from What Car?’s latest used car analysis reveal that used car prices have increased by 0.8 per cent in January in comparison to figures from December 2012, confirming a positive stance for the car industry.
At the start of what could be a prosperous year for car buying, What Car? editor-in-chief Chas Hallet said: “The used car market has had a great start in 2013. The most desirable models, such as SUVs, are fetching good prices, which is good news for car dealers and good news for anyone trading one in.”
Analysis by What Car? of all of the car sectors has revealed that 4×4 cars currently represent the best bargains, dropping 0.7 per cent in price. In comparison, coupe cars have increased the most in value with a 4 per cent rise in prices. Average prices for petrol models rose the highest by 1.1 per cent in comparison to diesel which increased by just 0.5 per cent.
Looking at cars across all sectors, the one-year-old models dropped in price by 1.7 per cent in comparison to figures from January 2012, while three-year-old cars dropped in value by an average 0.3 per cent. Five year models managed to rise above the trend with an increase of 1.7 per cent to their average value.
One year old models retained their value by an average of 0.3 per cent more to a total of 68.9 per cent, whilst three year old cars increased from 0.1 per cent to 52,3 per cent. Five year old vehicles increased their retained value by 0.2 per cent to 37.4 per cent.
Further analysis from industry expert, What Car?, revealed that SUVs were worth the most after one year, with an average figure of 78.4 per cent retaining their value. In comparison, MPV cars lost their value the quickest at 62.8 per cent.
After a period of three years, 4×4 cars retained the most value at 60.7 per cent, whilst luxury cars lost the most value with a 44.3 per cent average retained value recorded.
These findings are reinforced by an increase in consumer search activity according to Neil Addley, Managing Director of Trusted Dealers, partners of What Car? Approved Used, “Our members report a strong start to 2013 across the board and we’ve seen visitors to our network of sites up by 41% on last September.”
To purchase a new or used car from the Trusted Dealers, visit www.trusteddealers.co.uk and head to our used car section to benefit from a wide selection of excellent value new and used cars to suit all tastes and budgets.