Used Car Prices In Scotland Fall Due To Excess Inventory

Within the past month, prices on used automobiles have fallen by up to eight percent. This is bad news for auto dealers but great for consumers who are interested in a used car. High gas prices are leading motorists to sell their cars to save money, especially autos that are the second vehicle in the home.

Between April and May, there was a 4.5 percent average decrease in used car prices. The industry reports that this is the largest monthly decrease in several years. Some auto prices have dropped even more. Consumers can find a 2008 Ford Focus at a price of £5,800, a price decrease of £500, or eight percent.

A 2008 Nissan Qashqai is selling for about £9,650, a 6.8 percent decrease from its April price.

These are just two vehicles that have fallen victim due to excess inventory hitting the market. it is becoming more difficult for dealers to sell car models that are expensive to run. For example, the Ford Fiesta is now worth more than its bigger brother the Focus.

Experts say the market is now “overheated.”

The best way to get a decent price when selling a car is to do so privately. Though this takes more time and effort, it can pay off in the end. A lower price but faster deal is made when part exchanging or selling through a dealer.

Selling through an online site is the fastest method but results in the lowest price.

Even new cars are being affected by this situation. Reports of dealers offering thousands of pounds in discounts or extras with new cars abound.  Auto Express magazine located a Skoda dealer that lowered the asking price for a new model by 25 percent.

Other dealers are offering zero percent car finance or extras like alloy wheels and Bluetooth.