The auction group, BCA, says that used car values are going up. It says that the reduction in new car sales over the last few years has meant fewer cars coming to auction, and therefore rising prices. It might seem a paradox that used car values rise in a recession, but it is all a question of supply and demand – the fewer the number of new cars sold, the more they are worth when they are two or three years old.
There may have been a collective sigh of relief at the government’s freeze on fuel duty, but a new survey shows that pump prices remain drivers’ biggest motoring concern.
Data from the research reveals that 63% of motorists said they have cut back on car usage in the past year due to the increased cost of fuel with nearly 45% opting to walk more as a consequence.
