Second-hand car sales in the UK grew for the sixth consecutive quarter, data reveals. Here are top tips from the experts to help you buy a road runner rather than the sale leaving you with road rage.
Used electric vehicles (EVs) helped drive that increase in the three-month period up to June, as drivers opted for greener alternatives against the backdrop of ever-growing petrol prices.
There were 46,773 eco-friendly vehicles sold – a rise of 52.6% in the previous quarter, according to the Society of Motor Manufacturers and Traders’ (SMMT’s) data.
This led to a record-high market share of 2.4% for EVs. In comparison, the number of EV purchases contributed to just a 1.7% share at the same point last year.
While there was a surge in EV sales, petrol and diesel vehicles still command 92.4% of all sales in the second-hand market. The popularity of diesel sales declined, with 1.2% fewer sold.
Overall, pre-owned car purchases rose every month in the first half of 2024, leading to almost four million (3,931,318) sales, which is the largest number of sales since 2019. In the second quarter of 2024, the used car market grew by 7.2%, with 131,128 more sold than during the same three months in 2023.
It means used car sales are edging closer to pre-pandemic levels, before UK drivers and households tightened their purse strings.
Meanwhile, the most popular used cars are three well-known models, with the now discontinued Ford Fiesta being sold 77,236 times, followed by the Vauxhall Corsa and Ford Focus over April, May and June.
‘Importance of energising EV market’
Mike Hawes, SMMT’s chief executive, said: “The increased supply of electric vehicles to second and third owners is helping more motorists make the switch – underlining the importance of energising the new EV market to support a fair transition for all.
“Maintaining momentum requires reliable, affordable and green EV charging up and down the country and incentives to get all of Britain on board the net zero transition.”
James Hosking, managing director of AA Cars, thinks the number of used EVs available combined with their pricing means EVs “offer excellent options for buyers”.
Hosking added: “Drivers wanting to reduce their emissions will see the biggest savings, with prices of EVs and hybrids falling 12% in the same period. We’re expecting EV sales to reach record levels this year as more and more drivers are convinced to take the plunge thanks to the considerable savings.
“Despite persistently high interest rates impacting the cost of living, the Bank of England’s recent base rate reduction may bolster consumer confidence and further stimulate the used car market.”
However, with drivers making a complaint to Citizens Advice about their used car every three minutes, buying a second-hand car comes with risks.
To help motorists make the best decision, AA Cars has five tips for you to consider when going second-hand.
The motoring service told YourMoney.com: “By being attentive to these common used car faults, you can make a more informed decision and reduce the risk of costly headaches after your purchase.”
Five tips for a smooth second-hand car purchase
1. Inspect the vehicle: When purchasing a used car, it’s crucial to thoroughly inspect the vehicle and be aware of some common issues that can lead to costly problems down the line.
Common used car faults identified by our vehicle inspectors include brake issues, signs of previous accident damage or repairs, corrosion, clutch faults, oil leaks in the engine and gearbox, and existing body damage.
To minimise the risk of forking out for repairs, make sure your car is in good condition before you make the purchase.
2. Test drive: Always take the car for a test drive before making a purchase. Be on the lookout for brake issues like squeaking or grinding noises, as this could indicate worn-out brake pads or discs that need replacement.
Carefully inspect the vehicle for signs of previous accident damage or sloppy repairs, such as misaligned panels, uneven gaps, or a tilted steering wheel, as these can signal hidden structural problems.
Examine the car closely for any corrosion, rust, or water damage, as these can compromise the vehicle’s structural integrity and lead to expensive repairs.
3. Keep a close ear: Listen for any unusual noises coming from the clutch, as this could signal a fault that would require an expensive replacement.
4. Check for leaks: Check for any oil leaks around the engine or gearbox, as these can be a sign of more serious underlying issues.
5. Body damage: Don’t overlook existing body damage, as it could be hiding further problems and may affect the car’s value and your insurance premiums.
