Buying New Cars vs Buying Used Cars

I been on Sky News, they asked me on as an industry expert to talk about the state of the car market at the moment. The breaking story is that for the first time anyone can remember a used car price exceeded a new car price!

Yes you heard me right! Last week a 2008 Vauxhall Corsa 16 XSi with 5000 miles in the clock retails at £6495 but Vauxhall dealers were discounting their cars to such an extent that you can buy a new 2009 model with exactly the same spec but with no miles on the clock for £5995.

There were similar examples across the board with all manufacturers reducing car prices, what will happen is that used car prices will quickly tumble to meet these new levels but anyone who bought a car in the last year be prepared for your motor to take a hit.

However, the bottom line is that we, the public, can get a car today cheaper than ever and if you are looking at that old banger in your driveway then now could be a good time to swap it.

If you fancy reading more tips on buying - and selling - used cars, take a look at the new Wheeler Dealers website.

Comments

[Alex Penn]

Hi,

We are a taxi company Hummingbird Cars in London. We provide Airport Transfer service from all london airports.
We are in need of buying cars as our business is growing.But, we are in a sort of confusion as that should we go for used or new cars. So, Can anyone please advice us looking at cost and also other factors which is the best option for us.
http://www.hummingbirdcars.com

Thank you