Used car news

Selling your car is about to get a lot tougher, according to a new report which reveals fewer people are planning to buy a second-hand motor in the next six months.

The survey by Sainsbury’s Finance says spending on cars has dropped to its lowest level for three years. In the six months up to August 2008, an estimated 4.91 million people will buy a used motor – that’s 440,000 fewer than in the previous half-year.

A Sainsbury’s Finance spokesman explained: “It is difficult to pinpoint exactly what is behind this decrease, and it could be due to a mixture of factors, such as concerns around much publicised economic pressures or environmental anxieties.” He said the forecast drop in buying activity comes on top of a continuous rise in running costs: “Our research indicates that the overall cost of motoring, including everything from servicing to insurance, has increased by 10 per cent in the past three years.”

However, you can reduce your bills simply by buying the right model, says the editor of Parker’s consumer price guide, Kieren Puffett.

“While the cost of fuel remains expensive, car owners can minimise their annual outlay by seeking out the low-emission versions of the motors that suit their needs. Not only will this lead to lower annual road tax, these will also be more economical on fuel,” he said.