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4x4s lead used car market prices
Friday October 8th 2010
Luxury executive models, 4X4s and supercars are the best-performing vehicles for price in the used car market, new figures have claimed.
The latest Used Car Price Index from CAP showed that 4x4s are 7% better off for trade values in 2010 than a year ago. Supercars, like the Ferrari F430, are up 3.2% on September last year while luxury executive models, such as the BMW 5, are ahead by 1.8%.
Every other type of car is now valued less than a year ago, according to the study. Superminis are down 13.1% and city cars have fallen by 12%, with mini MPVs (10.2%) and lower medium (10%) both reducing in value as well.
The market, as a whole, showed a reduction on September 2009, tumbling by 6.6% after a period from April this year which saw prices fall considerably.
Mike Hind, of CAP, said: "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. Consumers with a well-looked after car looking to trade up to a better one will find some very strong deals on offer in the next few weeks."
Copyright © Press Association 2010.If your car gets written off, helpucover will pay the difference between your car insurers valuation at the time of the accident or theft, and the car's value when you purchased Gap Car Insurance.