Used car prices continue to rise

With year-old second-hand car prices up by a quarter this year, buyers are being urged not to leave it too late as a shortage of vehicles drives prices ever higher.

According to trade pricing bible Glass's Guide, stocks are at an all-time low as the collapse in new-car sales ripples downstream into the used-car market.

Said managing editor Adrian Rushmore: "Higher prices stem more from the limited supply of used cars rather than a significant increase in retail demand.

"Consumers should be warned that prices are not expected to fall in the coming months, as the supply of vehicles becomes even more constrained."

He said that the shortage of "young" used cars is likely to extend to older models "where similarly limited supply has driven up prices despite the economic downturn".

Mr Rushmore added: "The situation for used cars of any age is not expected to change until the middle of next year at the earliest, so consumers should move quickly to have the best chance of finding the models that meet their needs."

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