Used car values are continuing to lose ground and more undesirable models i.e. big engined, low spec, petrol cars are naturally being the worst hit.
From a buyer perspective there is plenty of choice around and car buyers should zero in on great value as dealers look to de-stock and replace with cheaper cars with which to claw back profit opportunities.
The feeling in the trade is over the last two years used car values have remained fairly stable and indeed increased at the beginning of 2011 as stock was harder to source. What is happening to values currently is a correction which should have happened gradually.
Of course there are also seasonal factors in play and if you throw into the melting pot some of the toughest economical conditions for many years you have a very challenging market place.
It’s not all doom and gloom of course and if you are a cash buyer with no car to trade-in, there will be some great opportunities to bag a very real bargain. With the likelihood being that in the long term there will be a dearth of good quality used cars the best deals to be had will be right about now!