Motor Industry News
My Car Check top tips for UK used car buyers in October and November 2015, including car of the month:
BMW M3 (2007 onwards)
- Most used values have taken a slight seasonal dip
- Activity is likely to settle down during October as winter looms
- Never pay cash, trust your gut feeling and check before you buy
“The V8 equipped M3 is a proper driver’s car worthy of the ultimate driving machine branding” - Gavin Amos
My Car Check - 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 choose a ‘car of the month’.
Head of Valuation Services at My Car Check, Gavin Amos, said: “The V8 equipped M3 was a big change from its 6-cylinder predecessors and this bold move really paid off. It is a proper driver’s car worthy of the ultimate driving machine branding. The car feels alive with a superb chassis and immense power. There are plenty of examples out there with the DCT gearbox, which is a fantastic piece of engineering, but we prefer the manual for that full on driving experience. Values have strengthened recently as well-maintained examples are becoming harder to find. If you get a good one and look after it you’ll be rewarded with strong residual values and a huge smile on your face. As always, check to make sure the one you’re looking at is what it claims to be – for instance, that it hasn’t been previously written-off – especially when buying privately.”
As to market trends, Amos said: “September was another successful new plate introduction month. Many dealers and traders reported a significant spike in enquiry levels, but activity is likely to settle down during October as winter looms.
“Most used values have taken a slight seasonal dip. Those unaffected include ‘cool’ vehicles, such as Discovery Sport and new Q7, which are both enjoying extended honeymoon periods.
“Volkswagen is suffering from some very negative publicity at the moment. Used values may take a hit and dealers are certainly taking grief, but is any long-term damage being done? Well, some time ago a huge safety-related recall made headlines and that manufacturer’s values haven’t tumbled.
“Land Rover is very much on a high and practically any late used example will be super desirable. Freelander values are particularly buoyant. Audi also continues to perform strongly, with all except A7 sure to generate interest. A1, A3 Sportback, Q3 and Q5 remain firm favourites, with values to match. Nearly 15 years after it launched, the ‘new’ Mini has a cult following. There’s a used Mini model to suit all budgets now, but finding a well looked-after one is important as fixing any issues can be costly.”