The used car market is in decent health, with figures showing that 8.1 million used cars were bought and sold in 2017. Despite this representing a 1.1 per cent decrease from the year before, it’s still significantly better than the 5.1 per cent that new car sales fell by over the same period.
The media likes to focus on technology when talking about new car trends, with self-driving cars coming out top but if you’re buying on a budget, it’s unlikely this will affect your next model. So we’ve done some research into the top trends driving the used car market.
Many new models are just as popular to buy used
Unsurprisingly, Ford dominates the most popular used cars of the past three years, with the Ford Fiesta in first place and the Ford Focus in second. This reflects a similar trend for the best-selling new cars over the same period with the Ford Fiesta consistently number one, while the Ford Focus and Volkswagen Golf battle it out for second place.
Second hand electric vehicles experienced a big rise in sales, growing by 77.1 per cent with over 10,000 used models sold in 2017. Used hybrid car sales also grew, while the new electric car market also had its best year to date with over 47,000 plug-in cars registered. The increase of new electric cars has obviously trickled down into the used market, with a greater choice of new and used electric or hybrid cars available to suit many lifestyles. While Vehicle Excise Duty (VED) changes and more eco-conscious drivers have also given a boost to both new and used electric cars.
Black is the new black
In 2017 black was the most popular colour for new cars, with 20.3 per cent of the market share. This knocked white off the top spot with 19 per cent, though grey saw the biggest increase in sales and moved into second place with 19.7 per cent of the market share. So if you’re looking for a used car you can expect to see the forecourts dominated by black, white and grey cars for a few years to come. There’s little sign of brighter shades becoming more popular. Orange, bronze and yellow combined made up less than one per cent of the new market in 2017.
Taking the pain out of financing a used car
Just under half of all drivers in a recent AA-Populus survey for AA Cars claimed they’d never bought a car on finance. For those who had, it took up a considerable amount of time with a third of respondents taking three hours to find the right dealand 10 per cent saying choosing their finance option took more than 48 hours. The AA Cars finance journey can make things a lot clearer and cut down the time spent deciding on how to finance a new or used car.
Image courtesy of iStock.