Used car values are reported to have fallen in March due to a shortage of vehicles between two and four years old. Average prices decreased from £4,797 to £4,648 for cars sold at auction, and the average age of cars sold peaked at 79.4 months, indicating that the period of car ownership is extending.

Used car dealers are frequently finding that because people are holding onto their cars for longer, they are having to stock older cars with higher mileages. Some are also receiving a high proportion of part-exchanged vehicle that are uneconomical to refurbish to manufacturer standards.

Despite this, the used car market is my no means in trouble. Compared to March 2011, used car sales were down, but Mike Pilkington of the NAMA committee said that, “All other key performance indicators were on par with February 2012, indicating that the market remains in a relatively stable condition.”

Year-on-year, used car values have decreased by an average of only £46 and the convertible sector seems to be prospering in the run-up to the summer months.

If you’re looking to get your hands on a quality used car, visit Crown Motors in Turriff today for an unbeatable selection and great service.