Liverpool is the place to find the best value used cars, new figures show.
Analysis by used car website AA Cars found the average asking price for a used car in Liverpool is £10,557, the average car listed for sale is 4.1 years old and has just 32,073 miles on the clock.
That combination makes Liverpool the best value place to buy a used car in the UK.
AA Cars analysed 40 cities and towns around the UK to find where buyers can find the best value.
Winsford, in Cheshire, had the lowest average used car age, at just 3.6 years and finished third in the overall ranking for the best value places to buy a used car. It was also top for mileage, at 24,181 miles on the clock on average. The average cost is higher than Liverpool at £13,576, however.
Bedford, in Bedfordshire, is home to the least expensive vehicles at £7,925, but the price is brought down by the average mileage of 68,852, which is the highest among the towns and cities analysed. Its cars are also the oldest, at 7.7 years.
Edinburgh was the best value place to buy a used car in January this year, but it has slipped down to 25th.
James Fairclough, CEO of AA Cars, said: ‘Business has been brisk in the used car market ever since dealerships re-opened.
‘Some drivers may be looking to swap their commute via public transport for a car, while other drivers who typically buy from new may have switched to the second hand market, where you can get great value for money on high quality, nearly new vehicles.
‘With many consumers facing financial pressures as a result of the pandemic, drivers want to know where they can get the best value for money on their next car.
‘It’s striking how much regional variation there is, with some areas of Britain offering considerable added value – and Liverpool finishing top of our ranking.’
The data comes as AA launches a new marketing scheme for dealers. From September 2020 to January 2021, the firm will highlight its Approved Dealers scheme.
The data also showed on average used cars are £531 cheaper than they were in January, with average prices falling from £12,097 to £11,566.
That’s in contrast to other market analysis that shows used car prices continue to hold firm and even grow.
Cox Automotive’s latest market tracker found the average wholesale price for used cars rose by 15.6 per cent in August compared to the same month last year, and by one per cent compared to July 2020.
Meanwhile, Auto Trader has reported the largest growth ever in used car prices in its Retail Price Index for August, after five months of consecutive growth.
According to the data, the average retail price of a used car last month was £13,705 – a 6.1 per cent year-on-year increase.
August also saw the steepest month-on-month increase in rate of growth, leaping from 4.6 per cent in July.
Earlier this week, eBay Motors Group revealed the fastest selling used cars for August.
The group said the Mercedes SLC, Astra GTC and Audi A3 were the most popular used cars in August – flying off dealer forecourts after less than 35 days in stock.
The Top 10 fastest selling cars in August
1. Mercedes SLC Class – 33.7 days
As the summer sun continued at the start of the month, the temptation of a drop top was too much for some buyers as they snapped up the baby Merc.
2. Vauxhall Astra GTC – 34.1 days
The hatchback was snapped up across dealer forecourts as combination of good prices and availability helped the model.
3. Audi S3 – 35 days
The sporty German attracted buyers with its potent performance and smart looks.
4. Volkswagen Scirocco – 35.4 days
They might not as most common site on the roads as the Golf on which it’s based but the VW Scirocco is a popular buy in the used market.
5. Renault Kadjar – 36.2 days
Eclipsing the Nissan Qashqai as the most popular SUV in August, the Renault Kadjar flew off forecourts in just over a month on average.
6. DS4 – 36.8 days
While its looks might not be to everyone’s tastes, the DS4 is a popular used buy as prices make it look rather attractive.
7. Mazda MX-5 – 36.8 days
The drop top is always a popular used buy and when the summer sun is shining it makes sales a lot easier. And we did see ‘some’ sun in August…
8. Audi S5 – 38 days
The second S model Audi in the list, this time the slightly larger S5. A combination of decent looks, good spec and great performance make it popular.
9. Mini Convertible – 38 days
Overshadowing its hatch and Clubman colleagues, the Mini Convertible was snapped up off dealers forecourts in August.
10. Audi A1 – 38.4 days
The smallest of the Audi range always proves a popular used car buy and in August it proved no different, securing 10th place in the list.