Motor Industry News
MyCarCheck.com top tips for used car buyers May 2014:
A1, Octavia & Clio Renaultsport praised… and there’s no sign of the traditional summer dip in values
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: Audi A1
- Safe bet: Skoda Octavia
- Used star: Renault Clio Renaultsport
Head of Valuation Services at MyCarCheck.com, Gavin Amos, commented: “Our highly desirable model this month is the Audi A1. Fun to drive and offering decent fuel economy they are good on residual value too – all round, a great affordable way into the brand. 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 very tempting way to get four rings on your driveway.
“In terms of cars that hold their value, safe bets don’t come much safer than the Skoda Octavia. It is decent to drive, feels huge inside and the brand snobbery has all but gone. As always, do your homework and check before you buy. 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.”
“For our ‘used star’ this month we’ve chosen the Renault Clio Renaultsport. Always a sporty favourite, a clean example of this hot supermini is a real catch. Given the car’s performance and potential for track day use, a thorough history check is highly recommended.”
As to market trends, Amos commented: “As summer approaches many potential used buyers turn their attention towards paying for their holidays, so retail activity usually slows. Strangely, this year it probably won’t have a huge impact on the trade. The ongoing shortage of retail stock and still large pool of buyers will mask any decrease in demand. As a result, the traditional seasonal dip in used values will be far less pronounced. In fact, it might not happen at all.
“A lot of manufacturers are launching important new vehicles this year and one of the most popular is the Nissan Qashqai. This car invented a new sector when it was launched back in early 2007. Since then it has gained an almost cult following as ‘the Golf of the crossover sector’. Pull up anywhere and nobody will look down their nose at a Qashqai. This success has continued with the new 2014 model. There are plenty to be seen on the roads already and demand is exceeding supply.
“There is a lot of talk about used values plummeting in the near future, but we at MyCarCheck just can’t see it happening. The trade and dealers remain positive, there’s still a used vehicle stock shortage and the housing market is performing better too. Although not connected directly with the car industry, historically the housing sector has been a great gauge for the feel of the market.
“Times will no doubt change as interest rates creep up, but for the foreseeable future used car values seem robust. Only older less practical vehicles have seen a substantial drop in valuation this month. The likes of a 206cc Ford Streetka are down around 3% simply due to lack of demand.”
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