USED car prices have soared by hundreds of pounds this year as more people are buying second-hand vehicles. One popular model has increased 57% in price since 2019 as a shortage of new cars means m…
Some cars are even increasing in value with age.
But a five-year-old model currently costs 15% more than a three-year-old car did two years ago, meaning it has gained value in that time.James Fairclough, chief executive of AA Cars, said: “With the exception of houses and some classic cars, things rarely go up in value as they age. Despite the sharp rise in prices, Mr Fairclough said "it is still possible to get a good deal on the second-hand market".
If you're interested in a specific vehicle, you should as the dealer questions about the car before you hand over any money.
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