https://www.bbc.co.uk/news/business-58993851

This article clearly explains why some used cars are up to 57% more expensive than they were two years ago. Used car prices have been creeping up for months largely due to the shortage of computer chips available to car makers – hence less new cars are available, pushing people into buying nearly new or used instead. So prices have gone up due to the high demand.

What does this mean for you? Well, if you need to buy a car at the moment, it means that shopping around for a good deal, and there are still good deals out there, is more important than ever. More popular makes and models are the ones that have seen the biggest price hikes, so it may be beneficial to consider other similar options.

If you are looking to sell a car, this is the time! Selling privately is no longer likely to get you the best price. I have recently helped several clients sell to a variety of internet-based car-buying companies for extremely strong money – it is quick and easy, and so much less hassle than selling to a private individual.

Finally, if a change in your circumstances means that you need to sell a car and buy a different one, with the right advice, this could be the time to do so. I can help you get top money for your sale and then seek out the best possible deal for you on your new vehicle. Do get in touch if you would like me to help you with this.

Used car prices hugely inflated – what does this mean for you?