A Negative Equity Nightmare Is Rocking The Used Car Market Zainal Abidin, 31/12/2025 Buyers who paid over MSRP during the pandemic are most at risk as falling demand for new cars pushes used prices down https://www.carscoops.com/author/chris-chilton-cc/ Cost of living crisis is fuelling booming used car market – Automotive Blog Zainal Abidin, 01/08/2025 New research has highlighted the No. 1 reason why more people choose used cars over factory-fresh models.A poll commissioned by The Motor Ombudsman found that more than half of respondents (58%) said that their primary motivation would be to save money.This is particularly pertinent at a time when consumer budgets remain under pressure, with further increasing looming for household bills, such as council tax, broadband, water, and standing energy charges.More than 7.2 million used cars changed hands in 2023, compared to 1.9 million new car registrations, according to figures from the Society of Motor Manufacturers and Traders (SMMT).The research also revealed that four in 10 respondents would prefer buying a car that had one or more previous owners to help avoid bearing the initial loss in value (ie depreciation), which is especially associated with buying a car from new.Nearly a third (32%) said there is often a large choice of vehicles to select from across the country when shopping around, while just over a quarter of survey participants (26%) agreed that they would be able to test drive and buy cars that were for sale on forecourts.When quizzed about some of the primary benefits… Continue Reading WhatsApp us
Cost of living crisis is fuelling booming used car market – Automotive Blog Zainal Abidin, 01/08/2025 New research has highlighted the No. 1 reason why more people choose used cars over factory-fresh models.A poll commissioned by The Motor Ombudsman found that more than half of respondents (58%) said that their primary motivation would be to save money.This is particularly pertinent at a time when consumer budgets remain under pressure, with further increasing looming for household bills, such as council tax, broadband, water, and standing energy charges.More than 7.2 million used cars changed hands in 2023, compared to 1.9 million new car registrations, according to figures from the Society of Motor Manufacturers and Traders (SMMT).The research also revealed that four in 10 respondents would prefer buying a car that had one or more previous owners to help avoid bearing the initial loss in value (ie depreciation), which is especially associated with buying a car from new.Nearly a third (32%) said there is often a large choice of vehicles to select from across the country when shopping around, while just over a quarter of survey participants (26%) agreed that they would be able to test drive and buy cars that were for sale on forecourts.When quizzed about some of the primary benefits… Continue Reading