Used cars now a third cheaper than last year

February 5, 2009 | By | In Statistics

Trade experts say cars like the Renault Scenic and Ford Focus offer biggest savings.

Car prices are at bargain levels. And if you ever doubted that, car-valuation experts EurotaxGlass’s have revealed that some types of car are up to a third cheaper than they were a year back.

Mid-size MPVs like the Citrn Picasso and Renault Scenic have dropped by 31%, meaning that three-year-old, petrol-engined models are now £1600 cheaper than they were in 2007.

Small hatchbacks – like the Vauxhall Astra or Ford Focus – have fallen by almost as much, with petrol-powered models tumbling by 29%.

Family hatches and saloons – like the Vauxhall Vectra and the Peugeot 407 – had dropped by a similar percentage.

The biggest savings in cash can be made – predictably enough – when buying luxury saloons. Even diesel-engined ones – which lose value more slowly than petrol models – are now over £7000 cheaper than they were a year ago.

At the other extreme, city cars are the only category where prices haven’t fallen, while superminis – such as Ford Fiestas and Renault Clios – are only 9% cheaper than in 2007.

EurotaxGlass’s say demand for used car has picked up now that buyers have seen cheaper prices on dealers’ forecourts.

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