Latest news with #secondhandcars
Daily Mail
2 days ago
- Automotive
- Daily Mail
Used car sales surge as buyers avoid pricey new models and EVs
Britons are buying more second-hand cars than they have done for five years as drivers' reluctance to cough-up for increasingly expensive new models - and EVs - sees appetite for used motors surge. Official figures published on Friday show that 4,017,106 pre-owned cars changed hands in the first half of 2025. That is up 2.2 per cent from a year earlier and is only 37,274 transactions below the same period in 2019, before the coronavirus crisis hit. Mike Hawes, boss of the Society of Motor Manufacturers and Traders, said: 'Surpassing the four million half-year milestone for the first time since 2019 shows the UK's used car market is building back momentum. That's good news for the industry and for motorists who benefit from more choice and affordability across a range of higher tech, cleaner vehicles.' However, the buoyance of the second-hand market comes in complete contrast to the new car sector, which has failed to bounce back from the pandemic and is being propped up by fleet and business sales rather than private buyers. The evidence of this was made clear earlier this week as the latest car parc data showed that the average age of motors on Britain's roads has hit a record high as drivers refuse to fork out for new models, shun EVs and keep their existing vehicles for longer. To put the success of the used car sector into perspective, registrations of new models grew by 3.5 per cent to 1,042,219 units in the first half of 2025 - a quarter of the four million second-hand transactions recorded over the same period. And while sales of brand-new cars are 18 per cent below the level in 2019, the second-hand market is down just 0.9 per cent. Between April and June, petrol was the best-selling used car fuel type, with transactions rising by 1.5 per cent to 1,134,387 units. Diesel declined by 4.3 per cent to 664,644 units. The demise of diesel is not due to a lack of demand but a dramatic shrinking of availability, with manufacturers culling them from their ranges in an effort to ditch their 'dirty' connotations while transitioning to electric vehicles. The statistics also show that, while car makers are eagerly trying to push battery-powered cars on customers aided by the recent availability of the Government's Electric Car Grant, it is combustion-engine motors that continue to dominate used transactions. With EVs particularly in their relative infancy and hybrids drip feeding into the used market, traditional petrol and diesel models make up 90 per cent of second-hand purchases. Hawes said that in order to maintain the used market's strong recent trajectory, a 'thriving new car market must be delivered across the segments', along with 'accelerated investment into the charging network to give every driver the ability to switch' to an EV. Swing to used car market is why Britons' cars are older than EVER The latest used car sales update comes just days after a review of official vehicle registrations figures by the RAC Foundation found that the average car on the country's roads at the end of 2024 was nine years and ten months - the oldest since records began. This is up from seven years and five months a decade earlier at the end of 2015. And back in 2003, the average age was just six year and a month. The transport policy and research organisation said the figures suggest both positives and negatives for Britain's drivers. Firstly, the quality of reliability of the average car appears to be improving, meaning vehicles are lasting the test of time far better than they have done previously. However, the numbers also suggest that inflated new model prices - especially during a cost-of-living squeeze - and the transition to electric vehicles has put motorists off changing their cars. Responding to the newly published data, James Wilson, chief operating officer of used car marketplace Motorway, said: 'Momentum is building in the used car market. New car supply issues and cost-of-living pressures continue to push buyers towards more affordable used options, particularly EVs. Price parity between EVs and ICE (internal combustion engine) cars has arrived. This shift, combined with rising consumer confidence, will accelerate EV adoption.'
Daily Mail
3 days ago
- Automotive
- Daily Mail
Used car market booms on driver reluctance to cough-up for expensive new models and EVs
Britons are buying more second-hand cars than they have done for five years as drivers' reluctance to cough-up for increasingly expensive new models - and EVs - sees appetite for used motors surge. Official figures published on Friday show that 4,017,106 pre-owned cars changed hands in the first half of 2025. That is up 2.2 per cent from a year earlier and is only 37,274 transactions below the same period in 2019, before the coronavirus crisis hit. Mike Hawes, boss of the Society of Motor Manufacturers and Traders, said: 'Surpassing the four million half-year milestone for the first time since 2019 shows the UK's used car market is building back momentum. 'That's good news for the industry and for motorists who benefit from more choice and affordability across a range of higher tech, cleaner vehicles.' However, the buoyance of the second-hand market comes in complete contrast to the new car sector, which has failed to bounce back from the pandemic and is being propped up by fleet and business sales rather than private buyers. The evidence of this was made clear earlier this week as the latest car parc data showed that the average age of motors on Britain has hit a record high as drivers refuse to fork out for new models, shun EVs and keep their existing vehicles for longer. Britons are buying more second-hand cars than they have done for five years, according to a new report. It comes in contrast to declining new model registrations. The swing to used cars has seen the average age of vehicles on Britain's roads hit a new record high To put the success of the used car sector into perspective, registrations of new models grew by 3.5 per cent to 1,042,219 units in the first half of 2025. However, sales of brand-new cars are 18 per cent below the level in 2019, while the second-hand market is down just 0.9 per cent. Between April and June, petrol was the best-selling used car fuel type, with transactions rising by 1.5 per cent to 1,134,387 units. Diesel declined by 4.3 per cent to 664,644 units. The demise of diesel is not due to a lack of demand but a dramatic shrinking of availability, with manufacturers culling them from their ranges in an effort to ditch their 'dirty' connotations while transitioning to electric vehicles. The statistics also show that, while car makers are eagerly trying to push battery-powered cars on customers aided by the recent availability of the Government's Electric Car Grant, it is combustion-engine motors that continue to dominate used transactions. With EVs particularly in their relative infancy and hybrids drip feeding into the used market, traditional petrol and diesel models make up 90 per cent of second-hand purchases. Hawes said that in order to maintain the used market's strong recent trajectory, a 'thriving new car market must be delivered across the segments', along with 'accelerated investment into the charging network to give every driver the ability to switch' to an EV. Swing to used car market is why Britons' cars are older than EVER The latest used car sales update comes just days after a review of official vehicle registrations figures by the RAC Foundation found that the average car on the country's roads at the end of 2024 was nine years and ten months - the oldest since records began. This is up from seven years and five months a decade earlier at the end of 2015. And back in 2003, the average age was just six year and a month. The transport policy and research organisation said the figures suggest both positives and negatives for Britain's drivers. Firstly, the quality of reliability of the average car appears to be improving, meaning vehicles are lasting the test of time far better than they have done previously. However, the numbers also suggest that inflated new model prices - especially during a cost-of-living squeeze - and the transition to electric vehicles has put motorists off changing their cars. Responding to the newly published data, James Wilson, chief operating officer of used car marketplace Motorway, said: 'Momentum is building in the used car market. 'New car supply issues and cost-of-living pressures continue to push buyers towards more affordable used options, particularly EVs. 'Price parity between EVs and ICE (internal combustion engine) cars has arrived. 'This shift, combined with rising consumer confidence, will accelerate EV adoption.' James Hosking, managing director of AA Cars, said: 'The UK's used car market has kept up its strong momentum, as budget-conscious buyers continue to turn to second-hand vehicles. 'Used cars offer a sweet spot for drivers looking to stretch their money further, especially as prices have started to settle following the record highs of the past few years. 'This is opening the door to electric motoring for thousands more drivers. 'As more ex-lease and ex-fleet models hit the market, we expect this trend to continue.'
Khaleej Times
26-06-2025
- Automotive
- Khaleej Times
What is the best method of buying a car in the UAE?
For many UAE residents, it's hard to get by without a car. Whether you opt for a new one or a pre-owned vehicle, you need to figure out the best way to pay for it. From a bank loan to a finance package from the dealer, it's worth weighing up your options. You also have the choice of buying a car versus leasing, but I will save that for another article. Bank loans Let's start with a bank loan. This is often most people's first option – to approach their existing bank and ask for a loan to buy the car. 'Banks are often the most competitive financing option, particularly if the buyer has a strong credit profile (reputable employer, lengthy employment period, good income, limited liabilities and no history of defaults). Though it does take a scan to find the most attractive bank for the particular buyer,' said Imad Hammad, Founder and CEO of CarSwitch. Other finance experts agree. But is it trickier when you are buying a second-hand car? 'In the UAE, car financing is predominantly driven by bank loans, particularly for second-hand vehicles, which constitute a rapidly expanding segment of the market,' said Neeraj Gupta, CEO at Policybazaar UAE. 'The growing second-hand car ecosystem has triggered a parallel rise in used car financing, with banks adapting to serve this segment more effectively.' And how do Islamic financing options differ from conventional car loans when buying a vehicle in the UAE? From a consumer standpoint, Islamic and conventional financing are quite similar in terms of the customer journey. The key distinction lies in the requirement of Takaful (Islamic insurance) instead of conventional insurance. In Takaful, participants pool their contributions to mutually protect each other against loss or damage, based on ethical principles that align with Shariah. So the difference is largely structural rather than experiential. Credit cards An interesting recent trend is paying for the car with a credit card, especially those with interest-free periods, as an alternative to traditional financing. 'Sometimes it's used in conjunction with financing to cover the initial downpayment, other times it's to purchase directly from an end user who wants a cash deal (usually cheaper than buying from a dealership) especially for lower value cars,' explained Hammad. This supports a more cost-conscious trend as buyers gravitate towards used cars, sold from private individuals for the best deal, and leverage credit cards to manage the payments. Dealerships Dealership financing and leasing are available and continue to gain traction, especially for new vehicles. However, consumers generally gravitate towards banks due to the competitive interest rates, structured tenures, and broader financing options they provide, according to finance experts. They warn buyers to look out for dealership financing offers that advertise zero per cent interest or no down payment. 'Financing deals that advertise zero per cent interest often include hidden costs, either in the form of inflated car prices or bundled insurance add-ons,' said Gupta. 'So, while the sticker offer may look cheaper, the total cost of ownership might be higher. Transparency in pricing and reading the fine print are essential to identifying the most economical choice.' If you already own a car, one option may be to trade it in with the dealership, or sell it yourself privately on the numerous car-selling portals like Dubizzle, Carbuyingpeople and SellyAnyCar. Ask the dealer first what trade-in price they will offer and then compare it with what you'd get from a car-selling platform. Credit scores In the UAE, credit scores and employment status play a central role in car loan approvals and the applicable interest rate. A strong credit history with a consistent repayment track record can significantly increase approval chances and unlock preferential interest rates. Financial institutions rely heavily on the Etihad Credit Bureau (ECB) reports, and a poor score can either lead to higher rates or rejection. You can now get your credit score instantly on your phone by using the DubaiNow app, thanks to a partnership with the ECB. The cheapest option? The cheapest financing option depends on multiple factors - primarily your credit score, down payment capacity, and vehicle choice (new versus used). In many cases, a bank loan with a solid credit profile and a sizeable upfront down payment tends to be the most cost-effective route. 'For buyers with excellent credit history, some banks even offer promotional low-rate loans that are more affordable than dealership offers, especially when factoring in the actual vehicle value and long-term costs,' added Gupta. And don't forget to compare insurance plans online before making a decision. Online platforms offer the ability to evaluate policies from multiple insurers, customise coverage based on individual needs, and avoid inflated premiums or unnecessary add-ons. This level of transparency and flexibility is typically not always available when purchasing insurance through dealerships.
The Sun
30-05-2025
- Automotive
- The Sun
Seven best used cars you can pick up for under £5,000 including ‘sharp looker' Seat and ‘astonishing' Hyundai
THE best value second-hand cars you can buy for less than £5,000 have been revealed. Seven cheap alternatives have been identified for bargain hunting Brits looking for luxury vehicles at a fraction of the price. 9 9 The list contains a mix of four-wheelers for big families, dog owners and car enthusiasts with expensive taste. Some of the popular vehicles can be found in a decent condition from as little as £1,000. The budget cars boast a wide variety of practical features, such as four-wheel drive and turbo-boosted engines. Volkswagen Up! First up is the Volkswagen Up! which provides an ideal small car with plenty of space on the inside. The city car has been praised for its slick style and high quality, providing a smooth ride for the driver. As well as its low second-hand cost, the VW is an equally affordable vehicle to run with low fuel consumption and emissions. Young drivers can also benefit from the cheaper insurance prices that come with the Up. Prices start on selling-site Autotrader at around £1,500. Seat Leon 9 Despite being modelled on a Volkswagen Golf, the cheaper Seat Leon provides a sharper look and better value for money. It is part of the VW group and shares plenty under the bonnet with the German manufacturer. Even the smaller 1.2-litre petrol engine is capable enough for most journeys, and the handling is more engaging than many rivals. The most common problems reported involve the DSG automatic gearboxes, minor satnav faults, and some condensation in the rear lights. Mazda MX-5 9 Those wanting a car that's more about enjoyment might consider the Mazda MX-5, particularly the third generation model built between 2005 and 2015. This version is slightly heavier and more refined than earlier MX-5s, making it more usable on a daily basis while still offering the same fun handling and simple, rear-wheel-drive setup the car is known for. At under £5,000, you're mostly looking at earlier examples, but the engines tend to be reliable with proper servicing. Owners should keep an eye on rusty sills and body panels, sticky brake callipers, and hard-top models with roof mechanism issues. Hyundai i30 BlueDrive If saving money on fuel and tax is your top priority, the Hyundai i30 BlueDrive is a practical choice. Built between 2012 and 2017, this diesel hatchback was designed during a time when low emissions and economy were major selling points. It officially returns up to 78.4 miles per gallon and, in many versions, qualifies for zero road tax. It's also chain-driven, meaning you won't need to worry about replacing a cambelt. Most faults reported are minor, such as scuffed interiors, and the engines themselves have a good reputation for dependability. Honda CR-V 9 For dog owners, the Honda CR-V built from 2006 to 2012 is worth a look. This mid-size SUV had a large, flat boot and a sliding rear seat that allows for even more space when needed. It's also known for its mechanical reliability and general durability. Four-wheel-drive versions are better suited to rural areas and country walks, especially in poor weather. Some used examples suffer from weak air conditioning, batter drain issues and fading interior trim, but overall, it's a strong all-rounder. Ford S-Max 9 If you need seven seats, the Ford S-Max offers better practicality than many SUVs in the same price range. Built between 2006 and 2014, it's an MPV that avoids the usual dull driving experience thanks to its car-like handling. There's plenty of space inside, and the rear seats can be folded flat when not in use. Older examples can be found for as little as £1,000, though well-kept ones with a full history hover around £5,000. Common faults include electrical issues, damp carpets, and noisy power steering. Audi TT 9 For those who want a more stylish option, the second-generation Audi TT from 2006 to 2014 still looks modern and drives well. It shares its engine with the Golf GTI, giving it decent performance and a solid driving feel. Inside, the cabin is smartly finished and doesn't feel dated. These cars can be had for under £5,000, though buyers should watch for high oil consumption, noisy timing chains, and electrical niggles like dodgy window mechanisms or condensation in the lights. Not every used car in this price range is a smart buy, though. One model to avoid is the first-generation BMW 1 Series, sold between 2004 and 2011. While the badge may attract some buyers, these cars are often cramped in the back, hard-riding and plagued by mechanical issues in many versions. Even well-maintained examples can feel tired, and the dark interiors make them less pleasant to spend time in compared to rivals.
The Sun
20-05-2025
- Automotive
- The Sun
Cheapest & most reliable second-hand cars to buy and insure revealed including discontinued Hybrid & Mazda convertible
THE cheapest and most reliable second-hand cars to buy and insure have been revealed. Tens of thousands of vehicles were examined as part of a huge study which uncovered that a discontinued Hybrid and Mazda convertible are among the most reliable cars. 12 12 In the annual Which? Survey, thousands of Brits opened up about their cars and the issues that they've had with them. The consumer advice company then crunched the numbers to determine how reliable a model is within its first four years of being manufactured, as well as those produced 5-9 years ago and 10-15 years ago. The survey involved over 60,000 car owners who owned a total of 71,002 cars. Lexus CT Hatchback Hybrid (2011 to 2020) The Lexus CT200h is popular because of its low running costs and low-speed refinement. Its petrol-electric parallel hybrid powertrain was previously used in the Toyota Prius, all the way back in 1997. A second-hand model sells for between £5000 and £10,000 with prices varying slightly depending on the car's generation. The Lexus CT received a refresh in 2014 and another in 2017 before finally being discontinued in 2020. Mazda MX-5 Convertible (2005 to 2015) The Mazda MX-5 debuted in its earliest form in 1989 but the convertible version first became available in 2005. It won the Car of the Year Japan Award in its first year of being on the market and is known for its stylish exterior. The vehicle also had simple on-board technology which was easy to use, alongside a sleek interior. 12 Lexus RX Hybrid (2009 to 2015) The Lexus RX Hybrid became popular for being a low-cost car to run. The second Lexus vehicle on this list enjoyed an immense popularity whilst on the market, thanks to its half-electric and half-petrol engine helping the car go further. It was also famed for being a particularly quiet car, making drives even more comfortable. Honda Jazz Hatchback (2008 to 2015) The Honda Jazz had a bigger boot than most of its competitors, including a Ford Focus, despite being one of the smaller cars on the market. Inside, the car was fitted with a spacious interior and a series of flaps to prevent luggage from sliding around. It also had a raised driving position which made driving much easier. Skoda Citigo Hatchback (2012 to 2019) The Citigo faced a lot of comparisons to the Volkswagen Up and Seat Mii during its time on the road. Largely, this was due to all three cars having very similar engines, structures and gearboxes. However, what set the Citigo apart was how smooth a ride it was. Thanks to its three-cylinder engine, the car was exceedingly cheap to run and cost less than the Volkswagen Up. 12 BMW X1 (2009 to 2015) The BM1 X1 was shorter and narrower than the BMW 3 Series Touring range which gave it a more elegant exterior shell. By the end of its production cycle in 2015, there were five cars in the BMW X1 range - five of which were diesel engines and one of which had a petrol engine. The car was described at the time as 'stable' and 'composed', making it one of the more reliable vehicles on the market. Suzuki Swift Hatchback (2010 to 2016) The Suzuki Swift was famed for being a smooth drive, which was also quiet whilst driving on the motorway. It received an update in 2013 which revised some of the car's interior, before a major update in 2014 which saw the car's diesel engine being swapped for a Dualjet petrol engine. The five-speed manual gear box was easy to use and the dashboard technology was remarkably simple to use. Toyota Yaris Hatchback (2011 to 2020) The Toyota Yaris was hugely popular, thanks in part to its spacious and comfortable interior. It also came with a hybrid option which offered reduced emissions with the trade-off of a fraction less boot space. The Yaris was first launched in 1999 and helped set a new trend for cars across the world, with the implementation of a digital speedometer on the dashboard. Suzuki Alto Hatchback (2009 to 2014) The Suzuki Alto hatchback claimed to be one of the cleanest petrol cars on the market, when it first launched in 2009. Although the car only measures 3.5 metres in length, its height ensures that driving always feels comfortable. It also has a quick response time, which makes it easy to drive. 12 Toyota Auris Hatchback (2012 to 2019) Despite having a low profile, the Auris offers a great driving position and is surprisingly roomy. It comes with a 350 litre boot and runs on a 134bhp 1.8-litre VVT-h engine. The Auris also has a sleek design which makes it one of the more stylish cars to take out on the road. The cheapest second-hand cars to buy and insure Which? have compiled a list of the cheapest second-hand cars to buy and insure. In order to create the list, the consumer adviser quizzed 60,000 Brits about their cars. The best value second-hand cars are: Lexus CT Hatchback Hybrid (2011 to 2020) Mazda MX-5 Convertible (2005 to 2015) Lexus RX Hybrid (2009 to 2015) Honda Jazz Hatchback (2008 to 2015) Skoda Citigo Hatchback (2012 to 2019) BMW X1 (2009 to 2015) Suzuki Swift Hatchback (2010 to 2016) Toyota Yaris Hatchback (2011 to 2020) Suzuki Alto Hatchback (2009 to 2014) Toyota Auris Hatchback (2012 to 2019)
