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You might not think the area in which you buy a car has much of an effect on the price, but where you are in the world influences the cost of a used car more than you may realise.
Although car dealers have been aware for some time of the importance of geographical location when calculating a vehicle’s sale value there is now more data to suggest the scale is much larger than previously realised.
In this article, we’ll look at some of the interesting ways location influences the price and where you can go to find the cheapest cars to buy.
If you are willing to travel for a bargain, you should do your research into how valuable your dream car is in different regions. If you are looking to purchase a 2013 Ford Fiesta, for example, you’ll pay less in Liverpool than you would in Plymouth.
It is simply a case of certain cars selling better in different areas. For instance, a sports car might be sold more quickly in a city like London, whereas a 4x4 would probably be easier to sell in a more rural area. In fact, dealers might even purchase cars in one area and move them to another where they are likely to sell for a higher premium.
Another reason certain places are less expensive than others is where they are in relation to other large conurbations. For example, used cars in Manchester are cheaper than more isolated cities like Bristol.
Currently, the cheapest place in England to buy a used car is Nottingham, where the price can be up to 35% lower than the rest of the country. After Nottingham, Hull and Birmingham also tend to have significantly lower prices than the national average.
Although London is one of the most expensive cities in the world for property, you might be surprised to discover it’s not the most expensive place to buy a used car. In fact, London car prices are only just above the national average.
There are a number of ways to sell your vehicle. You could look to sell privately to a family member or a friend or advertise in local newspapers or websites. This will ensure you have some control over the selling price. Alternatively, you could sell to a dealer but they will have margins to make so are likely to offer you less than you would be looking for. Another consideration if you are thinking of changing your vehicle is to look at part exchange deals which may give you better value.
Before you do any of these it is important that you get an accurate valuation of your vehicle so you know what you are likely to get for it when it comes to assessing your options.
You could save a significant amount of cash if you buy your car abroad, with purchase prices sometimes coming in at 50% less than you’d pay in the UK. Germany tends to be among the cheapest countries because it is location making it easier to bring a car back to the UK.
If you do choose to buy a car overseas, you will need to consider the cost of importing it. You can use a vehicle importer, which will cost you money but they will take on the legwork and be able to communicate with car dealers abroad to find you the best deal. You should also look into modifications, as some vehicles will need to reach the UK standard, which may involve some changes (i.e. headlight conversions and adjustment of the speedometer facing. In short, buying a car from abroad might seem daunting, but it can be a straightforward process with the right research.
If you’re looking for a place to find information about a car’s value and history before you sell or purchase it, mycarcheck.com is the place to go. Our vehicle valuations are based on data collected by a dedicated team of valuations experts from a number of sources taking into account a wide variety of variables. We use a number of data points to identify key information about the history of the vehicle to help with your buying decision allowing you to buy with confidence.
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