8:39 am, May 6, 2024
Wales was the most affordable place to buy used cars in April with vehicles being retailed for £2,306 less than the national average, according to new data from Motors.
The research revealed 10 regions with the lowest average car price, detailed below, with Wales averaging £14,519 compared to the national average of £16,825.
Wales was also the region with the biggest year-on-year drop in values, down 12% from £16,469 in April 2023.
However, month-on-month this figure was up £93.
In second place was the Midlands with an average used car price of £15,932, down 11% year-on-year, followed by north west England where prices averaged £16,016, having also dropped 11% year-on-year.
At the other end of the scale was London, where prices were £3,541 above the national average at £20,366.
Despite this prices were down 0.5% month-on-month and down 6% year-on-year.
London was followed by East Anglia at £18,073 and south central England at £17,433.
Top 10 cheapest places to buy a used car in April – Motors’ Market View, April 2024
1. Wales – average price £14,519
2. Midlands – average price £15,932
3. North West England – average price £16,016
4. North East England – average price £16,281
5. South West England – average price £17,129
6. Scotland – average price £17,285
7. South East England – average price £17,334
8. South Central England – £17,433
9. East Anglia – £18,073
10. London – £20,366
Lucy Tugby, marketing director at Motors, said: ‘Our analysis shows just how important a factor geographical location is to used car prices and why dealers need to keep tabs on regional as well as national prices when sourcing and pricing used cars.
‘Significantly all 10 regions saw year-on-year price drops in April, ranging from 2% to 12%, while most saw month-on-month improvements of up to 4%.
‘This further illustrates how the monthly price drops we have tracked since December halted in April with prices across the UK increasing by 1%.’
Motors’ Market View also looked at the regional price variations of popular used car models including the Audi A3, Ford Fiesta and Volkswagen Golf.
While Wales might have sold the cheapest cars overall, it was still the most expensive place to buy an Audi A3 in April at £29,833, while the cheapest was north east England at £25,675.
Meanwhile, Wales sold the cheapest Ford Fiestas at £15,929 and Scotland sold the most expensive at £18,023.
Although London was the most expensive place to buy, it was the cheapest if you were in the market for a Volkswagen Golf at £22,025 and the most expensive was North East England at £25,411.
