Used car market ‘stable, but quiet’

1st August 2012

Buyers are taking more care when choosing used vehicles, as revealed by research from Shoreham Vehicle Auctions.

Dealers are asking more questions and making sure they're only purchasing what they can sell, due to a lower number of sales compared to this time last year.

Buying vehicles that don't sell quickly can have an extremely negative effect on a dealers' cash flow during times of low demand.

Sellers are therefore advised to ensure that used cars are priced correctly when going to auction.

In spite of the poor market, older stock with a service history and lower mileage is continuing to sell well.

This is also the case with anything that has a rarity value, with 17-seat Ford Transit minibuses making up to £700 over book.

Shoreham anticipates that September may see an increase in demand and a shortage in supply, which may result in rising prices in the market.

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