Second-hand car prices have risen 30% over the last twelve months according to used car marketplace Motorway.co.uk. The increase has been driven by lengthy waiting times for new cars, which has meant that motorists have turned to the used car market.
Leading the price increases have been hot hatches (where prices have increased on average 35.8% year-on-year) and the estate market (where prices are up 32.8% on average).
An average Mini Cooper would have fetched £5,056 in February 2021 whereas prices have reached £9,627 in 2022. Meanwhile, a Volkswagen Polo Match 60 that would have netted a sale price of £3,508 a year ago will generate £6,229 on average today.
