Second Hand Cars Rise in Price
Posted on September 14, 2009
Filed Under News |
As reported before, the scrappage scheme has been a resounding success, but like many things in life there’s always give and take. In this case the ‘give’ of the scrappage cash bonus is matched by the ‘take’ of a huge rise in price of second hand cars!
A report in the Telegraph suggests that used and second hand car prices have gone up by an average of £600 this year, reversing the usual downward trend of previous years. In some cases old cars are selling for 25-50% higher than usual!
What this might suggest is that rather than using your old car to get a new car scrappage deal you might want to try selling it on the second hand market instead. Then you can use the extra money you make towards a new car without a scrappage deal, as the report also found that new car prices are coming down as well as manufacturers struggle in the current economy. Either way, it all sounds like great news for anyone wanting to replace their current car with a newer model!
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