CM Insider

Second-hand car prices up by over 56% in two years

Some of the UK’s most popular used cars have seen a surge in demand since 2019, according to research from AA Cars. The highest price rise found was for a three-year-old MINI hatch, spiking by 56.63% between 2019 and 2021.

Britain’s best-selling used car – the Ford Fiesta – also saw a 31% rise of £9770 compared with its value in 2019. Demand is so strong that some models are even appreciating with age, where they would not have done traditionally.

The research has been undertaken for the 30 most searched for vehicles on the AA Cars platform. Surging demand coupled with supply issues have created this unusual pricing trend, which is great for owners reaping a profit if they’re looking to sell but tough on those buying. Another contributing factor is more people looking to drive instead of using public transport following the pandemic.

“With the exception of houses and some classic cars, things rarely go up in value as they age,” explains James Fairclough, CEO of AA Cars. “Yet price growth in the used car market is