The used car industry is an interesting one. Often not thought of on a deeper level than when you look to buy or sell your vehicle. There are plenty of facts surrounding the industry that you’ll find surprisingly interesting.
Black is the most popular
When it comes to the colour of the vehicles, the colour black is the most popular. Closely followed by silver and blue. Other colours such as white, red and grey follow.
It’s, unfortunately, true that a lot of used car dealers have been known to tamper with the odometer, taking miles off the vehicle so that they’re able to sell the vehicle for a higher price than they should.
Ford’s come out on top
In Q2 in the used car market, Ford Fiesta remains the most popular model with 88,446 transactions made. Thankfully, nowadays you have access to a large variety of used car parts online to repair and maintain your vehicle. You can find many UK Ford parts online; there are plenty of parts available for a very reasonable price.
Surprisingly, automatic cars outnumber manual vehicles by 10 to 1. These vehicles have become so common that the number of people learning how to drive a manual car is declining.
The used car market is way bigger
Compared to the new car market, used cars completely dominate. Whilst it’s true that you’ll typically see a lot more advertising for new cars, it’s said that around 75% of the cars sold are used.
When shopping for used cars, make sure to inspect and question the airbags. Any cars that have been in an accident will need to have their airbags replaced correctly and unfortunately, this does not always happen. Don’t put yourself at risk and be sure to always have them checked before you purchase the vehicle.
Unknown Vehicle History
It can be incredibly difficult to get the full history of a vehicle. Whilst there are reports and services that can help you find out as much as you can, they can only do so much.
Flood-damaged cars are difficult to identify
It can be incredibly hard to spot whether a car has experienced any flood damage or not, it unfortunately happens quite often that a car will be damaged, but then dry out and be resold. This is another area that you should have inspected by a qualified mechanic before the point of purchase.
It’s not just recently leased cars that are on the market, cars that are over a decade old are still being sold (and bought). As long as they have been well maintained and in good spec, they shouldn’t see any issues finding a new owner.
Although there are some people who purchase a vehicle for life, there are others who may go through many vehicles in their lifetime. So much so that the overall average ends up at a car having three owners in its lifetime.