Prices for used cars are expected to remain strong this year as the sector continues to outperform the new car market.
Used car prices prediction
According to Adrian Rushmore, managing editor of car valuation publication Glass's Guide, high demand for used cars coupled with subdued sales of new vehicles reducing supply will lead to prices rising roughly in line with inflation.
Speaking to motortrader.com, he explained: "In recent years, used car prices have been increasing in line with the Consumer Price Index (CPI) and the increase of 3.5 per cent last year only slightly falls short of the latest figure for CPI at 4 per cent.
"Assuming that retail demand is not dissimilar, the competition for stock will remain strong, aided by a continuing shortage of part-exchanges from a flat new car market."
With used cars proving particularly popular at the moment, vehicle owners may want to consider investing in used car parts in order to keep repair costs down and their motors in top condition.