BCA reveals improvement in used car market

05 February 2010

Used car prices in the UK dropped in January, the BCA has reported, meaning drivers could take advantage of lower costs.

The average price of used cars has fallen in the past month after a rise in December, new figures from British Car Auctions (BCA) have revealed.

According to the organisation's Pulse report, typical costs for used cars dropped to £5,939 in January, a four per cent reduction from the £6,188 seen in the previous month, however year-on-year statistics show that prices have risen by £803 in the last 12 months.

Fleet and lease values were also hiked by £234 to £7,259 during the month and part-exchange costs increased by £120 to £2,669, although nearly-new cars saw average prices fall to £17,837 - a £62 drop.

Tony Gannon, communications director for the BCA, said: "The January uplift in the fleet-lease and part-exchange sectors suggests the market is aligned to more traditional patterns."

He added that the new data provides evidence of a demand for lower cost motoring.

Peter Lawton, consumer editor for What Car? magazine, recently told the BBC that motorists should shop around to find the best insurance quotes on their used cars - rather than accepting their current provider's offer.

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