car news headlines
Almost five million people will be looking to buy a used car in the six months to the end of August, with Car Finance customers still keen on new wheels despite economic uncertainty.
A recently-published survey shows car loan customers will spend an average of £4,636 each when buying second hand during the period.
This means overall spending on older vehicles is down, but still means around £22.76 billion will be spent, according to the Sainsbury's Bank statistics.
Head of Sainsbury's Loans Steven Baillie said: "Sellers need to make sure they know the market value of a vehicle to ensure they get a good deal when they come to sell their existing car, or indeed come to buy a new one."
He added car loan customers should ensure they use haggling tactics when negotiating on a used vehicle, as this could save them an average of £1,468 per deal.
Earlier in May the Society of Motor Manufacturers and Traders said the used car market remained stable, with sales for the first three months of 2008 only down slightly on the same period of 2007.
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