What is life like with your car? Let us know and win £500 in John Lewis vouchers | No thanks

Why are the prices of used cars rising?

I have been looking at buying a large, used SUV for the last three months: Volvo XC90, Land Rover Discovery, Audi Q7 etc. I now notice that the exact cars I have been looking at have gone up in price. Is there a reason for this?

Asked on 12 May 2021 by Tony Masters

Answered by Andrew Brady
It's something we're seeing across most car types. There's a lot of pent-up demand following the latest lockdown, with buyers looking to splash out on a new car instead of a holiday etc. People are buying cars rather than using public transport, too, and many buyers are considering second-hand cars rather than new lease cars. Cars are generally making a lot more than the book price at auction, which is leading to high retail values. It'll probably calm down within a few months.
Similar questions
I am after a price for my 2012 Citroen C1. It has well used upholstery and some scratches plus one tiny dent on the back corner. It's a basic VT model with three doors, no extras and 75k miles. It has...
After ordering my car 7 months ago, it has now arrived. I am going on holiday and can't collect it until January. My dealer says he must register it in December even though I will not have use of it. Will...
Are car second-hand car prices likely to fall anytime soon ?
 

Value my car

Save £75 on Warranty using code HJ75

with MotorEasy

Get a warranty quote

Save 12% on GAP Insurance

Use HJ21 to save on an ALA policy

See offer