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Prices for used cars 'dropped in November'

Thu, 11 Dec 2008
Motorists planning on buying a car in the coming weeks may find they can get a good deal on a second-hand model, new figures have suggested.

Statistics provided by Manheim revealed the average price for wholesale second-hand vehicles fell by 1.6 per cent - or £97 - in November.

As a result, buyers were typically paying £1,046 less last month than they were at the same time in 2007.

This dip follows a 4.4 per cent - or £278 - fall in prices in October.

However, speaking from the perspective of used car retailers, Manheim said it could have been worse.

Managing director Mike Pilkington commented: "Following the fall in average sales values in October and the gloomy economic outlook, the fall in average values of just 1.6 per cent in November was less than expected."

In other motoring news, Manheim recently reported an increasing number of Brits were coming round to the idea of buying cars at auction.

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