Saturday 14 May 2022 12:16 PM Cost of living crisis: Second hand cars now more expensive trends now
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Motorists are facing a massive used car premium with some second hand vehicles costing some £26,000 than a brand new model.
Ongoing shortages in the supply chain coupled with the spiralling cost of living crisis has seen the price of used cars rocket.
A nearly new Landrover Defender with a list price of £62,000 will cost £10,000 more if the car is second and car relatively low mileage. This is especially true if the car is bought using a PCP plan, which are affected by changes in the interest rate.
Buyers of cars such as the Landrover face paying a premium of more than £100,00
The cost of financing a new car on PCP has increased meaning the costs associated with buying the car, compared with a cash buyer
