Used car prices in the UK are generally no longer experiencing the rapid, widespread, record-breaking surges seen in 2021–2022, but they remain extremely high compared to pre-pandemic levels, with specific segments still seeing value increases. While some models have stabilized or dipped slightly, demand for older, affordable cars has driven up prices for cars aged 10+ years.
Covid created a slump in car production that is going to be felt for many years to come. There are simply fewer second hand cars on the market per person than there were 4 years ago, hence the value of each one is more.
Reduced supply of cars over covid stopped people upgrading to new cars, leading to fewer used cars on the market.
Manufacturers moving away from economy cars towards luxury and SUVs, driving up price of new cars, leading to people keeping used car for longer, fewer used cars on the market.
When's the best time to buy a second-hand car in the UK?
Generally speaking, the best time to buy a used car is at the end of the month, especially at the end of a quarter: March, June, September, and December. Dealers will be keen to meet their sales targets and, in turn, may offer better deals.
January is the best overall month to find a used car deal, with 55.6% more deals. July 4th ranks as the worst holiday to buy a used car, offering 22.4% fewer deals than average. June is the worst month for used car deals, with 22.8% fewer deals.
How many years should you keep a car before selling it?
So anything between 6 and 10 years may be a decent range which should give you the double benefit of a reduced price and at least a few more years of driving. The older the car, the cheaper it may be, but you'll also have the risk of it breaking down on you – which would mean no profit from selling it on.
Yes, you can still drive petrol cars after 2030 in the UK, as the ban only applies to the sale of new petrol and diesel cars, not existing ones; you can continue to own and use your current car, buy used ones, and find fuel, but new sales shift to electric or hybrid (until 2035), with potential future low-emission zones affecting older cars in cities.
A good mileage for a used car depends on its age, with 12,000-15,000 miles per year considered average, making 60,000-75,000 miles typical for a 5-year-old car, but maintenance history is more crucial than mileage alone, as well-maintained high-mileage cars (especially with motorway miles) often outperform poorly maintained low-mileage ones, with key factors being full service records and the condition of major components like timing belts.
