Growing financial uncertainty and an unprecedented rise in fuel costs in recent years has resulted in a significant rise in the cost of motoring. This in turn has resulted in slower than expected sales of new cars in 2008 and as a consequence has caused some manufacturers to cut back on production.
This downturn however is having the reverse effect on the second hand market, as motorists are beginning to take advantage of the significant cost discounts available in buying a used car. At one end of the scale, buying a used car which is only one or two years old can offer the consumer a depreciation in its ‘as new’ price of up to 40 to 50 percent. This is especially true with luxury cars. At the other end of the scale, great bargains can be found on slightly older models if you know what you’re looking for.
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