Used car values continue to grow

Apr 6 2009

New figures from the British Car Auctions (BCA) organisation have revealed that used car values have continued to rise.

The BCA's research found an increase in the average price of a used car for the fifth consecutive month, although it did report that the increase had begun to slow.

"We are encouraged that the used car and van markets have performed spectacularly well this year and demand remains much stronger than it was for most of 2008," said BCA communications director Tony Gannon.

According to the organisation, the slowdown in the increase in values could herald the end of the recent sharp growth in demand for used cars and might suggest the market has peaked.

That could offer some good news for people looking to buy a used car, as the values have been rising at a considerable pace over recent months, making it harder to find a bargain.

A growing number of people are looking to buy used cars as the global recession takes hold and makes it harder for people to af FORD a new car.

Many people are also holding onto their existing vehicles for longer, which has led to a rise prices as demand grows but supply tightens.

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