A recent study has revealed that many used car buyers skip vital checks before making a purchase. In fact, one in ten Brits admitted that they make no checks at all when buying a used car, leaving them unaware of any potential vehicle issues. The survey, conducted by online car-changing marketplace Carwow, uncovered just how common it is for used car buyers to skip essential checks. Despite … [Read more...]
Newslines 26 February
Hyundai Motor Europe has announced the new i20 N Line with an upgraded look. Featuring refreshed design elements both internally and externally, the i20 N Line aims to enhance the driving experience with its sleek and modern appearance and is set to begin production in April but UK specification has not been confirmed. Wrexham Volkswagen has been picked as the importer's top performing used … [Read more...]
Essential questions to ask before buying a used car
If you cannot afford to buy a new-plated car next month there is a massive choice of used cars out there and whether for convenience, cost, or quality, Brits’ interest in used cars is showing no sign of waning. Nevertheless, buying a used car is still a significant financial commitment, which is why it’s essential to be prepared for the process. In fact, in the last year alone there has been a … [Read more...]
Newslines 9 February
Car dealers face becoming the focus of a new customers financial scandal similar to PPI claims of the last two decades. The Financial Conduct Authority is investigating cases of finance houses not paying out compensation to customers over now-banned ‘discretionary commission arrangements’ and the watchdog is using its powers under S166 of the Financial Services and Markets Act 2000 to identify … [Read more...]
Good time to buy used cars, suggests survey
There’s been a sharp month-on-month rise in car dealers reporting the condition of used stock is improving – up from 20% in December to 33% now. Research from Startline’s January Used Car Tracker also shows that the percentage stating stock is getting older is also down from 30% to 23%. Additionally, 48% say that supply is improving - the best figure since 32% in October - while those saying it … [Read more...]
EV deadline move will bolster buyers ICEs
More than four out of 10 dealers think used car buyers will stick with petrol and diesel cars for longer following the government’s decision to delay the new car electrifcation deadline to 2035. Startline’s November Used Car Tracker also shows that 29% believe the move will mean the used electric vehicle (EV) market will take longer to develop while 19% forecast that consumer demand for EVs will … [Read more...]
Difficult 12 months coming for used models
The remarketing sector will face “many headwinds” next year but a wide range of opportunities remain, the Vehicle Remarketing Association’s annual seminar was told. The event, which took place at The Slate, Warwick University, was attended by almost 200 delegates and looked at the subject of “2024: The Year Ahead in Remarketing.” Philip Nothard, chair at the VRA, said, “Speakers at the event … [Read more...]
Financial squeeze is cutting used car choice
The financial squeeze is starting to hurt car buyers. AA Finance said motorists are borrowing 5% less for used car purchases this year as the cost-of-living crisis bites. This time last year, the average loan would be enough to buy seven of the 10 most popular used cars but only four would be affordable after price rises were taken into account this year. The average amount financed last year … [Read more...]
Used market uplift expected in 2024
More than half of dealers (55%) expect 2024’s used car market to be better than this year’s, suggests new research. September’s Startline Used Car Tracker shows that 45% also believe there will be better stock supply and 43% that demand for electric vehicles (EVs) will increase. However, just 25% expect there to be an improvement in consumer confidence. Paul Burgess, CEO at Startline Motor … [Read more...]
Running costs drive motorists’ buying decisions, says Startline
The effect of rising living costs on which used cars are chosen by consumers has grown strongly in the last six months, according to September’s Startline Used Car Tracker. Running costs are the most important factor now named by 74% of motorists compared to 62% in April, followed by the cost of living, which is now at 65% against 61% over the same period. Similarly, inflation has risen from 26% … [Read more...]