The majority of used cars – with the exception of convertibles – are likely to maintain their values despite the traditional seasonal dip in winter according to MyCarCheck.com.
Gavin Amos, head of valuation services at MyCarCheck.com, the trade valuations arm of CDL Vehicle Information services, said , 4X4s in particular are spending little time on dealer forecourts.
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Amos said: "Buyers are still out there, primarily thanks to the internet making buying easier than in the past. Even though we are seeing a very slight seasonal dip in values, good used stock will still sell quickly."
According to the valuations company, the use of PCP has brought on a steady trickle of prime used car stock and repeat business.
At the same time, Amos said: "Traders at the sub-£5,000 end of the market continue to widen their horizons when it comes to buying stock. The traditional route of always buying at auction isn’t working as well as it used to, mainly because their profit margin has been eroded by the increasing ‘retail’ presence at auctions.
"Online bidding systems allow buyers from all over the country to find exactly what they’re looking for, which keeps prices strong. Some keen-eyed trade buyers now prefer to swoop on privately advertised vehicles."
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By GlobalData
