Used cars: Second-hand sales rise as experts urge seizing the ‘perfect time to sell’

According to new data from Tradesure Insurance, 82 percent of all auto sales in 2021 were used vehicles. The research found that more than 7.5 million used cars were sold last year, compared to just 1.6 million new cars.

Andy McDonald, Underwriting and Product Development Manager at Commercial Insurancecommented on used car sales patterns.

He said: “The used car market is absolutely booming right now and shows no signs of slowing down.

“The good news is that a decent, well-cared-for used car can serve you well for years to come and won’t break the bank or depreciate sharply like a new engine.

“Look for cars that are around five years old, as they are less likely to need expensive replacements at this age, and look for mileage of 80,000 to 100,000.”

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One driver, Katie Gourlay, from Ayrshire in Scotland, ordered her car in June 2021 and was told she would receive it in September 2021.

The 24-year-old added: “I sold my old car in September, thinking I would get the new one soon.

“However, I didn’t get one until January 2022, which means I had to wait 32 weeks.

“It was a big inconvenience because I work in an inaccessible area, so I had to use my mother’s car to go to work or walk.”

The best-selling second-hand car on eBay is the Land Rover Defender, which will sell for an average price of £9,173.57.

According to Land Rover’s site, the brand is “currently affected by a global shortage of semiconductors that are essential for the manufacture of new vehicles.”

For some models of the Land Rover Defender, the British automaker reports waiting times of more than 12 months.

This delay in new car production and deliveries has fueled the demand for used Land Rover vehicles on eBay.

Three other Land Rovers appear in the top 10 sellers on eBay, including the Range Rover Sport, Discovery and Discovery 4.

The BMW 3 Series is the second most popular car on eBay, selling for an average price of just £2,947.55.

Other British favorites like the Volkswagen Golf, Ford Fiesta and Ford Focus appear in the top 10.

A spokesman for CarMats.comwho carried out the research, said: “With fewer new cars available, many people have turned to eBay and second-hand apps to buy a used car and reduce their waiting time.

“Ultimately, this has caused used car costs to rise, so now is the perfect time to sell your old car.”

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