Will the price of second hand cars go down in 2022?

I sold my 2014 Fiesta a few weeks ago. I bought it for £7,950 in 2017 and sold it for £6,018 online. I thought it was a good time to sell as prices were high for second hand cars.

I would like to buy another car and think prices of cars may come down due to cost of living but am not sure how long to hold my nerve for.

Will second hand car prices fall in 2022?

Asked on 11 April 2022 by Melanie

Answered by Andrew Brady

Yes, we're seeing used car prices starting to drop: www.honestjohn.co.uk/news/buying-and-selling/2022-.../

It's unlikely that the market's going to crash entirely (the new car chip shortage is ongoing) but the Ukraine war and rising fuel prices mean the market isn't as buoyant as it was a month or two ago.

Tags: buying a used car

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