‘Perfect time to sell’: Drivers urged to make use of year-long waiting times for new cars

Motoring: How to spot if a used car has been clocked

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According to new data from Tradesure Insurance, 82 percent of all car sales in 2021 were used vehicles. The research found that more than 7.5 million used cars were sold last year, compared to just 1.6 million new cars.

Andy McDonald, Underwriting and Product Development Manager at Tradesure Insurance, commented on the patterns of used car sales.

He said: “The used car market is absolutely booming right now and isn’t showing signs of slowing down. 

“The good news is that a decent second-hand car, well looked after, can stand you in good stead for years to come and not break the bank or depreciate steeply like a new motor.

“Look for cars that are around five years old as they are less likely to need expensive replacements at this age and look for a mileage of 80,000 to 100,000.”

Used electric vehicles sold as fast as petrol and diesel cars in April 2022.

Even Google searches for “used electric vehicles for sale” increased 387 percent in the last month.

The global supply chain crisis has impacted most businesses around the world, with the automotive sector being hammered by a shortage of semiconductors.

As a result of this, it can be hard to pinpoint the average waiting time for a new car, with general estimates between 13 and 52 weeks.

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One driver, Katie Gourlay, from Ayrshire in Scotland, ordered her car in June 2021, and was told she would receive it in September 2021.

The 24-year-old added: “I sold my old car in September, thinking I would get the new one soon.

“However, I didn’t get one until January 2022, meaning I had to wait 32 weeks. 

“It was a big inconvenience as I work in an inaccessible area, so I had to either use my mum’s car to get to work or walk.”

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The top-selling second-hand car on eBay is the Land Rover Defender, which will sell for an average price of £9,173.57.

According to Land Rover’s site, the brand is “currently being affected by the global shortage of semiconductors which are essential to the manufacturing of new vehicles”.

For some models of the Land Rover Defender, the British automaker reports waiting times of more than 12 months.

This delay in the production of new cars and deliveries has pushed demand for used Land Rover vehicles sky-high on eBay.

Three more Land Rovers appear in the top 10 best-sellers on eBay, including the Range Rover Sport, Discovery and Discovery 4.

The BMW 3 Series is the second most popular car on eBay, selling for an average price of just £2,947.55.

Other British favourites like the Volkswagen Golf, Ford Fiesta and Ford Focus appear in the top 10.

A spokesperson for CarMats.co.uk, who carried out the research, said: “With fewer new cars available, many people have taken to eBay and second-hand apps to purchase a used car and reduce their wait time. 

“Ultimately, this has caused a rise in used car costs, making now the perfect time to sell your old car.”

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