DEMAND for used cars is at a 10-year high, reports new and used car supermarket Motorpoint.
Used cars currently make up nearly 95 per cent of all Motorpoint’s sales volume – compared to 70 per cent just a year ago.
This is in contrast to official SMMT figures, which shows used car sales are down by 2 per cent. It is also contrary to findings from information services company Experian.
The car supermarket sells 35,000 cars a year, so is well placed to comment on the situation.
It says that buyers are attracted by savings of up to 70 per cent on the ‘new’ list price.
November used volumes alone were up almost 20 per cent. This comes as ‘no surprise’ to Motorpoint MD David Shelton. ‘Particularly at the moment, with everyone looking to make savings.’
‘All the indications are, that this figure will only get higher, as the credit crunch bites further in 2009 and beyond.’
The average saving available at Motorpoint, says Shelton, now stands at £5,000.
Car buyer Vince Sen recently made a 250-mile round-trip, to save over £17,000 on a 57-reg Saab 9-3 2.0T Aero Sport Sportwagon.
‘I had been driving a 10 year-old Vauxhall Omega but it wasn’t working properly. Rather than spend a small fortune getting it repaired, I decided to look into buying another car.’
The Motorpoint customer was certainly happy. ‘Not only have I saved myself a small fortune, but I’ve got a car which is perfect for transporting my young family around, safely and securely.’