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Used car prices to fall, predicts Glass's
Date: 11 January 2008 | Author: Tom Webster
The price of an average three-year-old car could soon be around £400 less than in 2007 according to Glass's Guide.
"The increased cost of borrowing, stagnant house prices and widespread reports of a UK 'credit squeeze' are all affecting consumers' disposable income and confidence," said managing editor Adrian Rushmore. "These factors will prevail through much of 2008."
However, a lack of available vehicles could help stem the decline. "New car sales in 2005 were down on the previous two years, which means there will potentially be fewer three-year-old cars arriving in the wholesale market this year," added Rushmore. "However, there will still be pressure on used prices because, even if the supply is slightly less, this is likely to remain too high in relation to anticipated demand."
