Why are used car prices increasing?

Why have used Audi Q7 gone up in price in the last year or so?

Asked on 24 May 2021 by Gordon Maclean

Answered by Andrew Brady
We don't have exact figures but have seen a steady increase in used car prices across the board. Car dealers have been closed during the various lockdowns, which has led to fewer new cars being sold and a decline in the number of used cars being part exchanged. Combine that with an increase in demand for used cars (people are treating themselves to a used car rather than a holiday, or swapping their expensive lease cars for more affordable used models) and prices are up. A car like the Audi Q7 is likely to be popular with staycationers, too – it's a big, comfortable SUV that'll be ideal for driving a family to Scotland or Cornwall.
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