Mixed Economic Outlook; Residents of Major Cities Over-Pay For Used Cars (Q1 2011-2012 Financial Year)
The most recent used car prices & values study, published by UsedCarExpert.co.uk today, reveals that regions with major cities, such as London and Birmingham are too often overpaying for their used cars. Editor, Matt Tumbridge, commented, "We suspect dealers are being sneaky and using the different mileage patterns of cars found in cities to justify higher prices. Basically you can't get far in a city so the car's mileage is lower than a car 20 miles away in the countryside. But actually, the City car is often more tatty and the engine, especially if it is diesel, is desperate for a good run to clear it out."
A regional car values report will be published every month at UsedCarExpert.co.uk/car-values/
Ends
- UsedCarExpert.co.uk reaches 4 million car buyers per year
- It is home to the UK's most accurate consumer car prices, fault check guides,
used car reviews and over 100,000 cars for sale
- For media comment, contact action@usedcarexpert.co.uk
or call 0870 444 2920
Scotland Matches UK Car Prices
SCOTLAND average car value: £9,280 (Sample size: 30,816)
"Despite Scotland's dealers being flung to three corners of the country, with a vast 'no mans land' (in car dealerships terms only) in the middle, prices are surprisingly even." Commented Matt Tumbridge, "Scotland's car prices, and their relative proximity to the UK average suggest a measured outlook from the Scottish car buyer."
|
North East Dealers Play Fair
NORTH EAST average car value: £10,049 (Sample size: 25,512)
Average car prices of £10,049 in the North East, just a few hundred pounds over the national average price of £9,700, indicates that there is high consumer confidence in this region, but a high level of dealer choice within a short distance also means that dealers are having to play fair on prices. That's the findings of the latest report into used car prices by UsedCarExpert.co.uk.
|
Dealers in the North West Can't Give Cars Away
NORTH WEST average car value: £8,682 (Sample size: 42,108)
The latest used car prices study by UsedCarExpert.co.uk has revealed that the North West has the cheapest used cars in the UK. Average prices are just £8,682 compared to Greater London, the UK's most expensive region, on £11,365. Most interestingly, the North West is also significantly cheaper than neighbouring North East, where retail prices average £10,049. Editor, Matt Tumbridge, commented, "At first glance it looks like dealers in the North East are conning buyers whereas those in the North West are being very fair. But the geography is really to blame - the nature of the North West means dealers are further away from potential buyers and that tends to lead to a drop in prices to entice buyers from further afield."
|
East Midlands & Scotland Seeing Average Economic Outlook
EAST MIDLANDS average car value: £9,263 (Sample size: 47,636)
The latest UsedCarExpert.co.uk price analysis reveals that the UK average price of £9,700 is being closely mirrored by the measured East Midlanders. Editor, Matt Tumbridge commented, "The economic outlook in the East Midlands is very steady, with dealers pitching their prices at a reasonable average rate. Neither having to try to hard to sell their cars, nor laughing all the way to the bank."
|
West Midlands Mixed Outlook
WEST MIDLANDS average car value: £10,525 (Sample size: 43,550)
Average car prices of £10,525 in the West Midlands indicates that there is high consumer confidence, but a high level of dealer choice within a short distance also means that dealers are having to play fair on prices. However, it's not totally even for the entire region, with an upward skewing of prices in the urban areas. That's the findings of the latest report into used car prices by UsedCarExpert.co.uk. The Birmingham average price, for example, is 5% more at nearly £11,000.
|
Wales Consumer Confidence Weak
WALES average car value: £9,151 (Sample size: 10,176)
Wales car prices are, on average, £200 less than those in Northern Ireland. These prices are among the three lowest regional averages in the UK, indicating that the Welsh are watching their spending and dealers are having to sharpen their pencil to shift the stock.
|
South West Sits On Economic Fence
SOUTH WEST average car value: £9,284 (Sample size: 39,494)
The South West region have been revealed today to have the fairest car prices in the UK. London were most expensive and the North West the cheapest. But the South West area was the closest to the UK average. Editor of UsedCarExpert.co.uk commented, "Car buyers in the South West are probably getting a fair deal on most of their cars, and paying these prices means they are prepared for the economy to go either way."
|
Job Losses & Pension Fears Weaken Car Buying Confidence
SOUTH EAST average car value: £9,043 (Sample size: 51,263)
The South East is the most prosperous part of the UK, yet has the second cheapest regional used car prices. According to UsedCarExpert.co.uk Editor Matt Tumbridge, this comes a shock to many, "One expects the home of the stock-broker-belt and land of BMWs to have some of the highest UK car prices. But not so. Fears of job losses in the City and economic uncertainty has lead to consumers in the South East shopping around more. Dealers forecourts are pretty quiet, so the prices have had to come down."
|
London's Used Car Rip-Offs
GREATER LONDON average car value: £11,365 (Sample size: 29,806)
UsedCarExpert.co.uk car price editor, Matt Tumbridge, thinks Londoners are being ripped-off by the Capital's used car dealers. "London has the most expensive used cars, with an average price of £11,365, some £2,683 more than the lowest region, the North West, on £8,682. London's dealers do have higher costs than other areas of course, but they also have more potential buyers passing their forecourts than a regional dealer. So a £2,500 premium seems a bit rich - especially as City cars are often knocked about from poor parking, being left in side streets and hardly ever having a good run."
|
East Anglia Economy Looking Strong
EAST ANGLIA average car value: £10,816 (Sample size: 34,363)
The UK's quarterly used car valuation report, by UsedCarExpert.co.uk, reveals that prices in East Anglia are holding up well, despite the 'cut-off' nature of the area. Editor Matt Tumbridge said, "Prices in the North West, where dealers and buyers are also very spread out, have tanked. Consumers are paying £2,000 more on average for their used cars in East Anglia than the North West. As cars are the second most expensive thing most people own, these prices show a good degree of consumer confidence. Equally, dealers seem to be playing fair - these prices are not as high as London where the average has hit £11,365."
|