Cold weather sees used 4x4 values rocket
The cold weather that has hit the country over the last month has seen the price of used 4x4s rocket by almost 10 percent compared to this time last year according to used car valuing experts CAP.
This news comes despite the fact that almost every other type of car has seen its used prices fall compared to 12 months ago. The mini MPV sector has been hit the hardest with a drop in prices of 9.5 percent, while convertibles have suffered to the tune of 7.9 percent.
But despite these falls, CAP remains positive, saying that the overall market has only dropped by four percent in December, compared to 6.6 percent in September. It also said that the New Year will bring a rise in used car prices, as low supply into the secondhand car market will push values up.
Mike Hind of CAP said: "The New Year will be a good time to trade in a high quality used car. Our research shows that dealers are currently paying very strong prices to keep their stock levels up and that is unlikely to change any time soon."
As well as 4x4s, the other two sectors that saw a boost in values compared to last year were luxury and executive cars, which rose by 2.6 percent, and the supercar segment, which climbed by 4.4 percent, showing that the global downturn has not affected the very wealthiest of car owners.