Downturn likely in used car market

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.

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Downturn likely in used car market

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