Motor Industry News
MyCarCheck.com top tips for used car buyers January 2014:
RR Sport, Qashqai & Cherokee praised as market picks up
MyCarCheck.com - the UK’s No.1 consumer vehicle data provider - has saved millions of people from making an expensive used car mistake. In these monthly bulletins its used car experts reveal significant trends in the UK market and suggest three wise buys:
- Highly desirable: new model Range Rover Sport
- Safe bet: Nissan Qashqai
- Used star: Jeep Grand Cherokee
Head of Valuation Services at MyCarCheck.com, Gavin Amos, commented: “The new model Range Rover Sport is yet another star car from JLR. Long waiting lists for brand new examples, combined with buyers’ desire to be seen with the latest fashionable 4x4 on their drive, are ensuring hunger for any used examples. Values are therefore remaining ultra strong. However, so long as you carry out a history check to ensure the one you’re looking at is what it claims to be – for instance, that it hasn’t been clocked and isn’t still on finance – then this is a car worth paying a premium for.
“In terms of cars that hold their value, safe bets don’t come much safer than the Nissan Qashqai. Although the new model Qashqai has just been unveiled, the previous model – a rare example of a car which created its own niche in the market – continues to go from strength to strength. Qashqais are in demand so residual values remain strong. As always, it is well worth checking before you buy to make sure the one you’re looking at hasn’t been previously written-off.
“For our ‘used star’ this month I’ve chosen the Jeep Grand Cherokee. Priced new in line with many of its German rivals, the Grand Cherokee does have flaws and the brand struggles for mainstream appeal. As such, a combination of competition from discounted new models and relatively weak used demand make for huge initial depreciation on what is actually a decent and visually striking vehicle. It is a very affordable used car, if you can afford the running costs. When it comes to negotiating on price, remember, as well as revealing a car’s history, MyCarCheck.com also provides vehicle valuations – a great tool for haggling with dealers or private sellers.”
As to market trends, Amos continued: “Historically, the first week of the year sees a spike in sales activity. The job of hunting for Christmas presents is done and buyers turn their attention to car shopping. Dealers see a drastic increase in both forecourt footfall and internet and telephone enquiries – sure signs that the lull is over. Some traders have stocked up already, trying to buy while the market is slow – a smart move.
“The 4x4 market is buoyant as ‘exceptional’ weather – rain, rain and more rain – continues to makes headlines. Demand remains strong for Freelander, Q5 and X3. These are a prestigious, fashionable and practical solution for many. Values remain strong, even though Freelander has been around in its current guise for a long time.
“Kuga, CX5, Qashqai and their peers also remain popular. Qashqai is enjoying a similar success story to Freelander in that it’s been on the market for a good few years; it still looks fresh and is in demand. This car was the first on the scene and kick-started the ‘crossover’ market.
“We are still seeing a distinct lack of ready to retail vehicles in trade channels. This is keeping values strong across the board, as long as the car is in good condition with the right service history. There’s an increasing trend of traders buying more stock from private sellers, offering near to the private asking price – perfect if you’re a private seller as it’s usually a straightforward business deal, a less emotional purchase.
“At the 5-8 year old end of the market, we are still seeing one particular vehicle in very strong demand: The VW Golf Mk5. In diesel, especially the 2.0 TDI GT, buyers can’t get enough of good examples. High mileage seems not to put potential owners off, especially when combined with a full main dealer history and having had a cambelt change.
“Looking ahead, 2014 will see strong demand for used vehicles. Ready to retail stock will remain the key to top money. Our values haven’t dropped dramatically at the end of 2013 and into 2014. Only the usual undesirable models, such as the ageing A6, have seen a drop of around 3%, purely due to higher road tax costs and general maintenance.”
Over the last couple of years, MyCarCheck.com, MyMotorCycleCheck.com and MyTextCheck delivered around 4.5m consumer checks including those via AutoExpress and WhatCar?
We use up-to-the-minute data from the Police National Computer (PNC), the Driver and Vehicle Licensing Agency (DVLA), the Association of British Insurers (ABI) and major finance houses including Lloyds TSB and Santander.
Our information is trusted by the UK's leading brands. MyCarCheck.com’s parent company, CDL Vehicle Information Services, performs around two million look-ups a week for companies including CompareTheMarket, Confused.com, Go-Compare, Moneysupermarket, Swiftcover and Tesco Compare.
To help UK consumers make the right choice, MyCarCheck.com can confirm in seconds whether your potential pride and joy has ever been scrapped, stolen or written-off, has any money owing on it, has had a plate or colour change and much more.
Know what you’re getting into: MyCarCheck.com