Used Cars

Used car values tumbled in the second quarter this year, according to new data from BCA.

Used car transactions defied the worst predictions of the gloom mongers during the first quarter with sales just 1.1 per cent down on last year.

Used car transactions only saw a marginal year-on-year fall during the first quarter of the year as the sector adjusted to the impact of economic pressures on buyers.

Second-hand car values could plummet by billions of pounds this year as consumers cut back on spending.

As the so called credit crunch continues to squeeze vehicle sales the HPI vehicle checking service found that 30 out of 100 used cars it examined were subjects of outstanding finance agreements.

Average used car values have held their own in April at BCA auctions but fell against Cap values, according to the latest Pulse report.

Three quarters of used cars inspected by the RAC would fail their MOTs.

The used car market in the UK remains very challenging for many dealers.

Used car prices are at their most favourable in years.

The Toyota Avensis Verso has been named as the used car of the year by Warranty Direct.