Values of high-end used cars rise

High-end used vehicles such as 4x4s, luxury executive models and 'supercars' have bucked the general trend in the used car market and are trading for more than they were a year ago, a new index shows.

According to CAP's latest Used Car Price Index, average trade values for 4x4s are 7% higher than in September 2009, while supercars such as the Ferrari 430 are up 3.2% and luxury executive models, like BMW 5 and 7 Series, are worth 1.8% more.

However, buyers on tighter price andcar insurance budgets can look for better deals on smaller cars and superminis which continue to be cheaper than the models of the same age and mileage a year ago.

The index shows city cars are trading for 12% lower, superminis are down 13.1%, Lower Mediums have seen a 10% reduction in value and Mini MPVs are down 10.2%.

Mike Hind of CAP said: "Despite the weakness in this year's market suggested by these figures, there has been a resurgence in demand among many dealers for used car stock during September. For franchise dealers in particular the difficulty in delivering new 60 plate cars due to long lead times for manufacturers has stemmed the flow of part-exchanges into dealerships."

"This means many dealers have been forced back out into the open market to buy used cars and this demand for stock has stemmed the decline in values."

Copyright © Press Association 2010