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This is unbelievable. The price of second-hand cars has increased from 11.1% in the past year to reach a record high of £14,276.
The study by the car sales website Auto Trader showed prices had risen every month since the pandemic when the first lockdown strangled the supply of new cars.
There is even a suggestion that second hand buyers are even in the gazumping game.
I think companies like Cinch and Heycar must take a lot of credit.
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The idea that a dealer will have a big marketing campaign on national TV, give you a guarantee and will take the car back back after a couple of weeks if you don’t like it, gives the buyer a security they would never have felt before.
The biggest rise come in diesels which have gone up by 13.1%. The reason for this is that they took a terrible hammering early last year when it became clear they were climate unfriendly.
PS If you plan to buy either car or home insurance I wonder if you might look at my small price comparison site A Spokesman Said as we earn a little commission from each sale which helps fund the research and editorial costs of running the site. It has the same offer as the big ones like Go Compare. Thank you.