Posh motor? They’re getting cheaper
Hard times are putting the brake on sales of luxury second-hand cars.
Average used-car prices for top brands such as Aston Martin, Jaguar and Bentley have gone down by up to 10% over the last month, according to search engine Adzuna.co.uk.
Buyers looking for second-hand cars are mainly opting for fuel-efficient rather than luxury models, the company added.
It said the average price of a used car in Britain had fallen 1.5% to £8,942 in the last three months.
The best deals at the moment are in Wales and south west England, where the average popular model is £300 cheaper than in other parts of Britain.
In Scotland, used-car prices have dipped 8% since earlier in the year, while Cardiff, Swansea, Bristol and Plymouth have seen the largest six-month falls in used car prices. The average used motor in these cities cost just £7,744 this month – 10% less than the national average.
Reading and Cambridge remain the most expensive cities in the UK to pick up a second-hand vehicle, with average prices for the last six months consistently above £12,500.
Adzuna said that there are more than 10,000 cars for sale in the UK for under £500 and that the cheapest car currently for sale is a 2001 Vauxhall Vectra in Blaenau Gwent in Wales, going for just £85.
The average price of a used Lamborghini in the UK is £73,181 and while French cars lose their value faster than cars from any other country, German cars depreciate least over time. There are also 121,000 silver-coloured cars for sale in Britain, Adzuna added.
Adzuna co-founder Andrew Hunter said: “It’s clear from these statistics that as we approach Christmas, cost, reliability and practicality are of paramount importance to car buyers in Britain today.”
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