Motor Industry News
MyCarCheck.com top tips for used car buyers September 2014:
Cayenne Diesel, A1 & Octavia VRS praised as values remain steady
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: Porsche Cayenne Diesel
- Safe bet: Audi A1 1.6 TDi Sport
- Used star: Skoda Octavia VRS 2.0 TDi
Head of Valuation Services at MyCarCheck.com, Gavin Amos, commented: “Our highly desirable model this month is the Porsche Cayenne Diesel. Great looks and performance combined with sensible running costs and the Porsche badge make residual values super strong. 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 isn’t still on finance – the Cayenne has a lot going for it.
“In terms of cars that hold their value, safe bets don’t come much safer than the Audi A1 1.6 TDi Sport. With almost any mileage, as long as it’s clean, you can’t go far wrong with this great entry-level Audi. As always, do your homework and check before you buy.
“For our ‘used star’ this month we’ve chosen the Skoda Octavia VRS 2.0 TDi. Although a relatively low volume sold new, a used example offers exceptional performance and a good quality finish at an affordable price. If you can see past the badge snobbery then the VRS won’t disappoint. When it comes to negotiating, 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 commented: “The summer lull wasn’t as pronounced as we’ve seen in previous years. Used values remain largely unchanged.
“The internet car buying sites are eating up a lot of would-be part exchange vehicles, thriving on the mind-set that the deal will be better for the buyer if there is no part exchange involved. This isn’t always the case but it’s working well for them.
“The onslaught of supported finance campaigns, with the likes of deposit contributions on new vehicles, continues. It is certainly having a detrimental effect on sub-six-month-old cars. As a buyer, why wouldn’t you go for the new model on a finance package? On the other hand, the likes of Q5 remain unaffected, with values strong. Demand just doesn’t appear to be dwindling. Audi A1 also continues to perform very well. Dealers can’t buy enough.
“With people coming towards the end of their PCP deals, dealers are offering strong money and snapping them up for way more than their Guaranteed Future Value (GFV). In many cases this is retaining the customer for the brand by creating a healthy deposit for their next vehicle.”
MyCarCheck.com’s parent company, CDL Vehicle Information Services, performs over a million look-ups a day for companies including AutoExpress, CompareTheMarket, Confused.com, Go-Compare, Moneysupermarket, Swiftcover, Tesco Compare and WhatCar?.
It uses up-to-the-minute data from the Police (NPIA – previously known as the Police National Computer or PNC), the Driver and Vehicle Licensing Agency (DVLA), the Association of British Insurers (ABI) and major finance houses including Lloyds TSB and Santander.
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