Why used cars are suddenly so expensive

Supply constraints and demand are pushing up prices, but cost of change key for most motorists

Used imports so far this year are down by 35% on the same period in – pre-Covid  and pre-Brexit – 2019. File photograph: Getty

Used imports so far this year are down by 35% on the same period in – pre-Covid and pre-Brexit – 2019. File photograph: Getty

Used car prices rose by 40 per cent in the last 12 months, according to a new report from online advertising website DoneDeal.

Figures compiled by economist Tom Gillespie, based on the website’s listing over the last 10 years, showed that, after controlling for mileage, age, and other vehicle attributes, used prices held up so strongly during the pandemic that they offset the traditional depreciation.

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