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Used cars soar in value
Mar 9 2009The used car market is seeing impressive results in terms of vehicle values, figures have shown.
Findings by the latest Pulse report from British Car Auctions (BCA) have highlighted that used car values rose for the fourth consecutive month in February.
The average used model saw growth in value of 8.4 per cent compared with January's figures, marking an increase of £435.
BCA communications director Tony Gannon commented that the results had been surprising considering the current economic climate.
"Possibly the market is experiencing some deferred demand from last year, as potential buyers held back from any big-ticket purchases as the economic turmoil became apparent," he stated.
Average figures for the year so far have been just slightly behind those of 2008, which may be good news for those who deferred planning a used car last year.
In January, the firm reported record volume and conversion rates that bettered any previous results from the same month.
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