Used Car Prices 2010

Analysis over the year to date of the average cost of a used car shows that they are likely to follow the same trends as the last couple of years. While there have been obvious effects from the world economic down turn and the governments austerity measures, the price of used cars for the remainder of 2010 is likely to be only slightly less than previously.

The price of used cars has traditionally been higher in the first quarter, followed by a sharper decline in the second quarter. This year seems to be set to follow that same practice, making the later part of the year the best time to buy used cars.

If the pattern is repeated from previous years then you will see that a car, which now retails at £10,000, having completed another 6,000 miles could be expected to fall to around £9,100 by the end of the year. This however may even fall as low as £8,750 as the effects of economic uncertainty continue to bite.

At present there is a definite reluctance on the part of consumers to buy used cars and with the shadow of redundancy, reduced disposable incomes and a rise in prices, this is likely to have an effect on used car prices. There are also less new cars being registered and therefore a shrinking pool of used cars, which has been further, reduced by last years government scrappage scheme, which saw thousands of used cars removed from the market. Subsequently there should be some good deals around on used car prices.