Average used car prices fell by over 8% last month according to Auction4Cars.
New figures from the ground breaking fee-free car auction website, part of car supermarket Motorpoint, revealed prices had fallen to £2,983 last month after several months of steady rises.
Auction4Cars has enjoyed a strong start to 2011, selling almost 5,000 cars during the first quarter of 2011. What’s more, traffic to the website last month was up over 15% on the same time last year.
Says Neil Prescott, Group Disposal Manager at Motorpoint: “This is a clear indication that used car prices are finally starting to level off, as widely predicted, after the upwards trends of the last few months.”
So, if you are in the market for a used vehicle, this might well be a good time to take the plunge, finances dependent of course. For me, I think I’ve finally settled on a vehicle of choice… But I still need to keep saving!
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