Second Hand Car Prices Skyrocket since COVID -19
Written by Josh Davey on 17th May 2022
Throughout the coronavirus pandemic second-hand car prices have skyrocketed, with some values going up to nearly 40%.
An example of this is a 2018 Vauxhall Mokka bought in Birtley last August for £12,000 would now be selling for 18,000. This is a 33% increase over time.
This and the backlog of driving tests are making it almost impossible to buy a cheap second-hand car for a reasonable price.
Vintage cars, however have gone up even more than everyday cars.
There are many reasons for this such as many people were experiencing boredom throughout the pandemic which meant more people were buying vintage cars of all values.
This has led to a decrease in the number of cars on the market, hence an increase in values.