6:32 am, August 12, 2023
London is the most expensive city to buy a used car in the UK – with second-hand models costing an average of nearly £10k more.
Buyers in the capital are being charged an average premium of £9,694 or some 29.2 per cent more than the average across the country for used models.
The research by car listing site CarGurus has ranked the most affordable cities to buy a used car in across Great Britain.
The firm found the cheapest city to buy a used car in was Hull with cars costing an average of 27.3 per cent less than the average or some £5,036 cheaper.
Chris Knapman, editorial director at CarGurus, said: ‘While there are many factors that determine the price of a used vehicle, a car’s location is often overlooked, yet it can have a significant impact.
‘Our data shows the average cost of a used car can vary by thousands of pounds depending on where they are located.
‘When searching for a used car on CarGurus.co.uk, listings can be sorted by distance from a user’s postcode. For those buyers willing and able to travel to secure a good deal, it can certainly be worth the extra time and effort to do so.’
One example given by the firm took the Volkswagen Golf and looked at prices of cars aged between 2018 and 2022. In Hull, the average price was £18,639 whereas in London the same model was listed for an average price of £22,511.
Cargurus says used car buyers could therefore save around £3,800 buying in cheaper cities.
After Hull, Liverpool, Glasgow and Nottingham were the cheapest cities to buy used cars. While after London, Southampton, Birmingham and Derby were the most expensive.
Cheapest to most expensive cities to buy used cars
Source: Cargurus took the average used car price for models between 2018-2022. The percentage is how much cheaper or more expensive the cars are in that city compared to UK national average of £23,516 per used car
- Hull (£18,480) -27.25%
- Liverpool (£20,254) -16.10%
- Glasgow (£21,126) -11.31%
- Nottingham (£21,190) -10.98%
- Leicester (£22,028) -6.75%
- Stoke-on-Trent (£22,378) -5.08%
- Sheffield (£22,445) -4.77%
- Coventry (£22,600) -4.05%
- Newcastle Upon Tyne (£22,655) -3.80%
- Cardiff (£22,695) -3.62%
- Edinburgh (£23,463) – 0.23%
UK AVERAGE – £23,516
- Leeds (£24,091) +2.39%
- Manchester (£24,301) +3.23%
- Bradford (£24,350) +3.43%
- Bristol (£24,397) +3.61%
- Belfast (£24,402) +3.63%
- Derby (£24,486) +3.96%
- Birmingham (£25,073) +6.21%
- Southampton (£25,161) +6.54%
- London (£33,210) +29.19%
