Why some second-hand cars cost more than new – The Times

Cars are rapidly increasing in value when they leave forecourts because of an unprecedented demand for second-hand vehicles and a chronic shortage of supply, in what experts are describing as a freak development.

The Times has found that the price of second-hand cars is going through the roof this year, with the price of some vehicles rising by almost £10,000 in the space of five months and continuing to go up.

Used cars are gathering an average of 20 per cent in value in the first six months of their lives rather than depreciating by 5 per cent as soon as they leave the forecourt, as they were previously always guaranteed to do.

“What we are seeing here is absolutely unprecedented — a once-in-a-generation development

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