More than half of motorists (52%) say that they are now driving an older car than five years ago.
June’s Startline Used Car Tracker shows 24% haven’t been able to afford to buy a newer car and 18% that it feels as though used cars have become more expensive.
Paul Burgess, CEO at Startline Motor Finance, said, “The average age of a car on UK roads is now 9.5 years, up from 8.0 in 2020, and more than 43% are over 10 years old.
“This situation has largely been driven by economic factors. New car production shortages around the time of the pandemic mean that the stock supply in the used sector is lower than envisaged, pushing up prices. Also, household budgets have been under considerable pressure thanks to the period of high inflation seen up until last year.
“As a result, many people just can’t afford to change their car, and those that do often have less money to spend and are shopping in a market where prices are higher than was the norm pre-pandemic.”
The Startline Used Car Tracker also shows that 9% are spending more money keeping their car on the road, and 9% that it breaks down more often. However, 21% say their car has stayed reliable and 12% that modern cars are more resilient.
Finally, 5% of motorists say they now spend more money on keeping their car looking presentable but 4% are planning to run their current vehicle “into the ground”.
