According to recent forecasts in the
car finance news, the
used car market in the UK has already started to fall and will
devalue considerably in the next year or so. As a response to
rising
costs of
fuel and more expensive road
tax under new legislation, UK consumers hard hit by the
credit crunch are cutting down their expenditure on
used vehicles .
Following Sainsbury’s
Finance research in the last few weeks, the cost of used
vehicles appears to be falling on book prices. Furthermore,
there is a trend emerging for consumers to hold their
used cars for longer.
The used
car market does fluctuate in different areas, although it
appears that around the country used
car dealerships are seeing a slowdown in business. Car experts
indicate that buyers in the market for
a used car could find major bargains, particularly if they are
prepared to haggle.