The most affordable major UK cities to buy a car between 1 and 5 years old have been revealed, with buyers potentially able to save thousands – if they’re willing to travel.
According to data published by CarGurus – a leading online automotive marketplace to shop, buy, and sell used vehicles – the national average price of a 2018-2022 model year used car in Britain is £23,516, however, this can vary significantly depending on location.
CarGurus found that Hull is the most affordable major city to buy a 1- to 5-year-old used car with average vehicle listing prices at £18,480 — £5,036 (-27.3%) below the national average. Liverpool came in second place offering £3,262 in savings on average (-16.1%), followed by Glasgow at £2,390 (-11.3%) below the national average.
Conversely, London is the most expensive major city in Britain to buy a used car between 1 and 5 years old, exceeding the national average price by £9,694 (+29.2%).
The second most expensive major city is Southampton, where used car prices are £1,645 (6.5%) above the UK average. Third is Birmingham, at £1,557 (6.2%) above the national average. Cardiff came in tenth cheapest location.
In examining how prices of some of Britain’s most popular cars differ between the most and least affordable major cities, CarGurus identified the potential for considerable savings. For example, a Volkswagen Golf (model years 2018-2022) is listed for £18,639, on average, in the most affordable major city of Hull, while it is listed for £22,511 in London – the least affordable major city. This represents a potential savings of £3,872. |
EVs dominated the list of used cars that lost the most value in July, according to new data from Auto Trader. Information collected as part of the firm’s latest Retail Price Index showed that the 10 biggest fallers last month all had electric powertrains. It comes as supply continues to drastically outstrip demand in the used EV market, causing huge drops in value over the past 12 months. |
Chris Knapman, Editorial Director at CarGurus, said, “While there are many factors that determine the price of a used vehicle, a car’s location is often overlooked, yet it can have a significant impact.
“Our data shows the average cost of a used car can vary by thousands of pounds depending on where they are located. To help buyers find the best deals, we have compiled an analysis showing how average car pricing varies by region.
“When searching for a used car on CarGurus.co.uk, listings can be sorted by distance from a user’s postcode. For those buyers willing and able to travel to secure a good deal, it can certainly be worth the extra time and effort to do so.”
The UK’s used car market rose by 4.1% during the second quarter of the year, with 1,832,267 units changing hands, according to the latest figures from the Society of Motor Manufacturers and Traders.
The increase equates to an additional 72,583 transactions compared with the same period in 2022, reflecting sustained growth in the new car market and improving availability.1 The easing of supply chain disruptions has driven sales growth in every month so far this year and, although the Q2 market remains -9.9% below 2019 levels, its recovery continues apace.
Used battery electric vehicle (BEVs) sales continued to soar in the second quarter, growing by 81.8% to 30,645 units, representing 1.7% of the market – a new record – up from 1.0% last year.
Double-digit growth also continued for plug-in hybrids (PHEVs) and hybrids (HEVs), up 11.4% to 18,437 units and 29.5% to 53,634 units respectively. The rising proportion of electrified vehicles meant that market share for conventionally powered cars marginally fell to 94.3% from 95.7% last year, even though volumes of petrol and diesel cars saw growth of 2.5% and 2.8% respectively.
Superminis remained the best-selling used vehicle type, making up 31.5% of transactions and growing by 4.4% to 576,980 units. This was followed by lower medium, accounting for 26.5% of the market, while dual purpose cars rounded off the top three with a 15.1% share.