Used car values high

The economic downturn has been seen to hit the new car sales market, but it has been reported that in turn, used car buyers are finding themselves looking at higher prices for coveted models.

The Telegraph comments that there is a shortage of used cars - particularly those that are one to three years old. This is good news for those selling a car, as used prices have become 'artificially high'.

A shortage of used cars has been attributed to the fall in new car sales at the height of the recession between 2008 and 2009, meaning that there are less pre-owned cars coming onto the market this year and over the next couple of years, according to a report by industry commentators at Glass's Guide.

The government's scrappage scheme has also been rumoured to blame, as many new car buyers who traded in their 10 year old cars, are less likely to follow the standard three to four year replacement cycle.

Adrian Rushmore, managing editor of the Glass Guide, stated of the trend: ''The same thing happened following the recession of the early 1990's and it will happen again over the next few years.''

Rushmore added: ''When new car sales remain depressed for a succession of years, the issue becomes more acute, because future car supply reduces still further.''

Many car commentators agree with Rushmore and believe that with the slow recovery of the new car market, values of used cars will remain high, as demand is increasing.

Gay White, Banbury, Porsche 911 Carrera

Kay McGuinness, Maidstone, AUDI A4 AVANT