Second Hand Car Buyers Spending Down

Published: 5/31/2010

The amount of money people expect to spend on a used car is down 8 percent compared with the previous 6 months. Sainsburys Bank gained this information from their regular survey, finding also that nearly 5 million people plan to buy a used car during the coming six month period.

The advice to anyone selling a car then is to be well aware of the state of the market and not to price their vehicle too high. Knowing how the market is going can really help used car sellers position their vehicles at a price they feel will be acceptable and so get a quick sale.

Sainsburys Bank also found that over 15 percent of second hand cars bought would be financed through a car loan, with the average price of vehicle coming in at over GBP4,500.

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