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Average used car price soars 24% to more than £19,000 - and now 17% of one-year-old models are being advertised above their brand new list prices

This Is Money logo This Is Money 21/10/2021 Rob Hull For
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Inflated prices for second-hand vehicles have been highlighted in new data, as manufacturers continue to struggle to meet production demands of new cars. 

The average price of a used car advertised last week was 23.9 per cent higher compared to the same week a year ago rising to £19,018 - the highest figure Auto Trader says it has ever recorded.

And it says 17 per cent of 'nearly new' second-hand models - those up to 12 months old - are now being advertised for above what they cost brand new.

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The report comes after This is Money and cap hpi revealed last week the year-old vehicles that are being sold on average for more than the new manufacturer list prices and which particular used models have risen most in value in the last six months.

The recent boom in used vehicle values is a result of unprecedented demand due to extended waiting times for new cars to be delivered. 

A shortage of semiconductor chips needed for the latest models means manufacturers simply can't make them quickly enough, with some - including Jaguar Land Rover - quoting 12-month waiting periods for particular models. 

Auto Trader says the shortage of new cars has been the predominant factor that has sparked 76 consecutive weeks of average used car price growth.

It says 'consumer demand' for second-hand motors - based on searches and advert views on its website - is up 19 per cent compared to a year ago. 

The marketplace added: 'This growth is reflected in the more than 14.8 million cross platform visits to Auto Trader, which marks a massive 32 per cent increase on the same week two years ago. 

'There was also a 20 per cent rise in the hours (2.2 million) consumers spent researching their next car on its marketplace.'

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The report says the very strong consumer demand in the market is also highlighted by the faster speed at which retailers are selling cars. 

Last week, it took an average of just 23 days for stock to leave forecourts, which is 17 per cent faster than the speed of sale recorded during April.  

Auto Trader says this means retailers are not having to lower their prices nearly as much as they usually do in order to shift vehicles.

Of the 2,218 retailers who made daily price adjustments last week (202 fewer than in the same period in 2019), the average was a reduction of just £96 - in the same week of 2019,  retailers were trimming prices by an average of £304 (68 per cent more). 

Almost one in five year-old cars advertised above new price 

Such is the massive acceleration in used car prices, almost one in five of 'nearly new' examples listed on Auto Trader are currently being offered for prices more expensive than their brand-new equivalents. 

These are cars that are up to a year old and would have normally experienced sizeable depreciation - as is the case for most vehicles in the first 12 months. 

Such is demand that 17 per cent are being advertised above what they would cost brand new. 

That is a huge jump on the previous all-time high of 11 per cent recorded by the online patform in August, and over four times as many than in January (4 per cent). 

Remarkably, 37 per cent of nearly new cars are currently priced within 5 per cent of their brand-new counterparts, up from 28 per cent in August and 13 per cent at the start of the year, says Auto Trader.

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Cap hpi, which tracks used car sale prices and provides vehicle valuation information to drivers, explained which models in September sold for more than what they cost new.

Topping the chart was the previous-generation Dacia Sandero, which was replaced with a new version earlier this year. The average price paid for one new - where stocks remain - is £9,773 while the average sale value of used examples with 10,000 miles on the clock is £11,673 - a premium of 19.4 per cent.

It's also a similar case with the all-new Sandero. Cap hpi says used values for a six-month old version is £12,908, while a new example ordered will - on average - cost just £11,843.

It means buyers are currently willing to pay around the same for a year-old previous-gen Sandero as they are the latest example, simply because of long waiting times.

This is also the norm for year-old Duster SUVs, which are around £1,000 more expensive used - and with 10,000 miles already clocked up - than its new price commands.

Other examples of year-old mainstream models being more expensive than a new one include diesel Range Rover Evoques as well as oil-burning Land Rover Defenders and Discovery Sports, which is likely linked to the 12-month delivery waiting periods quoted recently.

Porsche's Macan SUV, Mini Coopers (and hot hatch Cooper S version) as well as Volvo XC40 compact crossover and the Ford Kuga are also examples of mainstream models selling second-hand for above a showroom new price. 

Richard Walker, Auto Trader's data insights director, said: 'With so much attention focussed on inflation right now, there’s huge interest amongst economists on those components that are recording substantial price rises, not least used cars which have been a notable driver of recent UK inflation rates. 

'With levels of used car price growth once again smashing previous records, there is a lot of speculation around how long this boom could last. 

'Whilst inflation in itself does pose a potential risk to consumer demand, we don’t expect to see price growth slow anytime soon. 

'This is based on the continued acceleration we’re tracking across the market - fuelled, in part, by increased levels of household savings, a positive sentiment shift towards car ownership, and the 1.5 million ‘lost’ transactions last year - coupled with the ongoing shortage in both new and used car supply.'

REVEALED: The second-hand cars that have risen in value most in the last 6 months   

Last week, This is Money and cap hpi listed the models that are currently seeing the biggest rise in value in the last six months - March to September.

The data is based on three-year-old vehicles with an average of 30,000 miles on the clock.

All cars listed have seen values increase by around 48 per cent and more, with some priced around 60 per cent higher than they were in March 2021. 

The data is collated from various sources, unlike Auto Trader, and does take into account dale prices rather than advertised 'list' prices. 

20. Vauxhall Astra (2015-2020)

Avg value Mar 21: £7,011

Avg value Sep 21: £10,364

Avg £ increase: £3,354

Avg % increase: 47.8%

( © Provided by This Is Money (

Vauxhall's popular family hatchback creeps into the list of big movers over the last six months.

Used values for the previous-generation car have risen by almost 48 per cent, which means the average value of a three-year-old example with 30,000 miles on the clock is more than £3,300 higher than it was in March.

19. Skoda Yeti (2009-2017)

Avg value Mar 21: £10,691

Avg value Sep 21: £15,786

Avg £ increase: £5,095

Avg % increase: 47.9%

( © Provided by This Is Money (

The Yeti was discontinued in 2017, with Skoda switching its SUV range to a more typical design. That said, the Yeti's quirky looks and practical layout means it has a strong fanbase, which has kept residual values high ever since production ended.

Cap hpi says a three-year-old model with average mileage has gone up in value by more than £5,000 in the last six months. 

18. Jaguar XF (2015- )

Avg value Mar 21: £14,504

Avg value Sep 21: £21,518

Avg £ increase: £7,014

Avg % increase: 48.2%

( © Provided by This Is Money (

Luxury models aren't the cars that usually top lists for holding their value well. Expensive to begin with, they depreciate rather quickly.

However, Jaguar's XF is the one motor to represent the executive-car category in this list, with average values of three-year-old examples rising by 48.2 per cent between March and September. That translates to an extra £7,000 in an owner's pocket. 

17. Mini Cooper (2018- )

Video: Here's why used car prices are at all-time highs (CNBC)


Avg value Mar 21: £10,948

Avg value Sep 21: £16,308

Avg £ increase: £5,360

Avg % increase: 48.7%

( © Provided by This Is Money (

The shortage of semiconductor chips is hitting UK car makers hard, including Mini's Plant Oxford, which was forced to halt production earlier this year due to the lack of components.

It means build numbers of the current Mini Cooper are behind, which is forcing used values higher. Owners willing to sell today can expect to pocket £5,350 more than they would have done in March.

16. Ford Kuga (2012-2020)

Avg value Mar 21: £12,647

Avg value Sep 21: £18,796

Avg £ increase: £6,149

Avg % increase: 48.8%

( © Provided by This Is Money (

Ford recently introduced a new version of its Kuga SUV, with sleeker looks and the addition of a plug-in hybrid drivetrain.

However, the previous-generation car, with its more traditional boxy dimensions and heaps of interior space, remains a popular choice among Britons. Those who already one will be pleased to hear the average value of a three-year-old example has risen by 48.8 per cent in the last half year. 

=14. Mini Cooper S (2018- )

Avg value Mar 21: £12,544

Avg value Sep 21: £18,731

Avg £ increase: £6,187

Avg % increase: 49.5%

( © Provided by This Is Money (

Mini's answer to a hot hatchback, the Cooper S, is bettering the standard Cooper when it comes to increasing residual values in recent months.

Owners of this nippy motor would pocked an additional £6,187 if they sold now compared to six months ago, based on cap hpi's data for three-year-old cars with 30,000 miles on the clock. 

=14. Kia Soul EV (2014-2019) 

Avg value Mar 21: £10,700

Avg value Sep 21: £16,000

Avg £ increase: £5,300

Avg % increase: 49.5%

( © Provided by This Is Money (

Cap hpi told us that few electric cars feature in this list because their used values are already so high. Yet the previous-generation Kia Soul EV clearly had some room for movement in 2021.

The average price of a three-year-old second-hand example with up to 30,000 zero-emission miles totted up has risen by almost 50 per cent in the previous six months. With an official range of 132 miles, it falls quite some way short of the current Soul EV (280 miles).

13. Nissan X-Trail (2015-2019)

Avg value Mar 21: £11,404

Avg value Sep 21: £17,067

Avg £ increase: £5,663

Avg % increase: 49.6%

( © Provided by This Is Money (

With demand for big SUVs going strong, the Nissan X-Trail is one model that is seeing second-hand values rise this year.

Owners could sell a three-year-old X-Trail with 30,000 miles for £5,650 more than they would have done back in March, with average values for these off-roaders rising 49.6 per cent. 

12. Nissan Qashqai (2018-2021)

Avg value Mar 21: £11,929

Avg value Sep 21: £17,901

Avg £ increase: £5,973

Avg % increase: 50%

( © Provided by This Is Money (

The Nissan Qashqai has been the most popular SUV in the UK ever since it first hit the market in the mid-2000s. Despite there being plenty on the road - and a new model hitting showrooms this year - values of second-hand examples are going up.

A three-year-old Qashqai with 30,000 miles tallied up in that time has risen in value over the last six months - on average - from £12,000 to almost £18,000.

11. Renault Kadjar (2015-2019)

Avg value Mar 21: £9,643

Avg value Sep 21: £14,502

Avg £ increase: £4,859

Avg % increase: 50.4%

( © Provided by This Is Money (

The Kadjar and Nissan Qashqai are mechanically very similar, sharing the same platform and engines as part of the partnership between Renault and its Japanese sister brand. 

It's not much of a coincidence to see values for the French compact SUV rising at a similar rate to the Qashqai, with there clearly being appeal for second-hand motors of this type. This has pushed used Kadjar prices higher by 50.4 per cent in the last six months, based on three-year-old examples. 

10. Peugeot Partner Tepee (2008-2018)

Avg value Mar 21: £8,125

Avg value Sep 21: £12,320

Avg £ increase: £4,195

Avg % increase: 51.4%

( © Provided by This Is Money (

A good option for those with small families and also a very popular model via the Motability schemes, with the van-turned-mini-MPV capable of taking wheelchairs with some adaptation. 

Diesel variants have seen a boom in value in recent months, with a three-year-old Partner Tepee worth just over £8,000 in March and now selling for over £12,000. 

9. Volvo V40 (2012-2019)

Avg value Mar 21: £10,445

Avg value Sep 21: £15,879

Avg £ increase: £5,434

Avg % increase: 52%

( © Provided by This Is Money (

Volvo might have binned its V40 a couple of years ago, essentially replacing it with the compact XC40 SUV, but it's still an accomplished motor for anyone in the market for a traditional family hatchback.

Owners who bought one new three years ago and driven around 30,000 miles will be pleased to hear values have climbed by 52 per cent in the last six month, adding over £5,000 in monetary terms.

8. Toyota Prius Hybrid (2015-2019)

Avg value Mar 21: £11,586

Avg value Sep 21: £17,759

Avg £ increase: £6,173

Avg % increase: 53.3%

( © Provided by This Is Money (

The original poster car for greener motoring, the Prius is still going strong today. Those living in cities will know that the hybrid Toyota remains the top choice for ride hailing firms, with the car providing good reliability and low running costs in urban areas.

It's the conventional hybrid that we're focussing on here (not the plug-in hybrid), with cap hpi saying the value of a three-year-old used example with 30,000 miles racked up has grown from just under £11,600 in March 2021 to a fraction under £17,800 by September.

7. Hyundai Ioniq Hybrid (2016-2020) 

Avg value Mar 21: £10,335

Avg value Sep 21: £15,860

Avg £ increase: £5,525

Avg % increase: 53.6%

( © Provided by This Is Money (

Another used hybrid soaring in value is Hyundai's Ioniq, which, like the Toyota Prius, is a large family car boasting eco credentials for those who live in built-up areas.

With more drivers considering alternative fuel vehicles, the Ioniq has seen a huge surge in value in the last six months. In March, you should have expected to pay around £10,000 for a good second-hand example from 2018 with 30,000 miles on the clock. In September, used prices rose to £15,680 - a 53.5 per cent increase. 

6. Ford Galaxy (2015-2020)

Avg value Mar 21: £13,825

Avg value Sep 21: £21,249

Avg £ increase: £7,424

Avg % increase: 53.9%

( © Provided by This Is Money (

If you drive a Ford Galaxy - especially a black one - you've likely been mistaken for an Addison Lee employee a few times. But it is the owners of Ford's big MPV that are getting the last laugh in terms of used values.

A three-year-old diesel Galaxy with 30,000 miles on the clock is worth 54 per cent more today that it was six months ago, such is the demand for big, family-transporting, motors. 

5. Vauxhall Mokka (2012-2020)

Avg value Mar 21: £8,397

Avg value Sep 21: £12,940

Avg £ increase: £4,542

Avg % increase: 54%

( © Provided by This Is Money (

There's a new Mokka in Vauxhall showrooms today, and - in our opinion - its daring looks are far more attractive than this relatively mundane first attempt. Yet there is growing demand for the brand's initial attempt at a compact SUV on the used market.

Cap hpi data shows that a three-year-old Mokka with average mileage has gone up in value by 54 per cent in the last half year - meaning owners could make £4,500 more selling today than if they offloaded in March. 

4. Vauxhall Combo Life (2018- )

Avg value Mar 21: £8,100

Avg value Sep 21: £12,610

Avg £ increase: £4,510

Avg % increase: 55.7%

( © Provided by This Is Money (

Another used Vauxhall gaining in value in the last half a year is the Combo Life - the brand's answer to a van-shaped MPV that is mechanically identical to its commercial vehicle.

Values for three-year-old examples are up almost 56 per cent in six months. It means an owner selling today would make £4,500 more on average than if they did in March. 

3. Mercedes-Benz V-Class (2014-2019) 

Avg value Mar 21: £25,183

Avg value Sep 21: £39,583

Avg £ increase: £14,400

Avg % increase: 57.2%

( © Provided by This Is Money (

From a compact MPV to one of the biggest on the market - the V-Class is based on Mercedes' Vito commercial vehicle, offering seating for up to seven with ample space for luggage in the boot.

Residual values are always high, given the small production outputs and the fact many are bought up by taxi businesses. Yet those who own a V-Class and are willing to sell could make £14,400 more than they would have done in March, with average values of three-year-old examples up 57 per cent.

2. Vauxhall Zafira (2012-2018)

Avg value Mar 21: £8,547

Avg value Sep 21: £13,495

Avg £ increase: £4,949

Avg % increase: 57.9%

( © Provided by This Is Money (

Even cap hpi says it is 'really hard to comprehend' that a used Vauxhall Zafira has gone up in value by as much as they have, but that's the sizable impact the semiconductor chip shortage is having on the wider motor market today.

A three-year-old Zafira would have sold for just over £8,500 around March, but a near-58 per cent rise in value since means some car buyers are paying up to £13,500 for a used one.

1. Toyota Auris Hybrid (2012-2019)

Avg value Mar 21: £9,685

Avg value Sep 21: £15,492

Avg £ increase: £5,808

Avg % increase: 59.9%

( © Provided by This Is Money (

The biggest used-car value riser in the last six months is Toyota's Auris. It has since been replaced by the Corolla - which is built in Burnaston, but demand for second-hand hybrid versions of the green family hatch have gone sky high. 

Prices being paid for three-year-old versions with 30,000 miles clocked up are up 60 per cent in the last half year, pushing average values from just over £9,600 in March to nearly £15,500 last month. 


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