{"id":244199,"date":"2023-11-04T17:21:23","date_gmt":"2023-11-04T17:21:23","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=244199"},"modified":"2023-11-04T17:21:23","modified_gmt":"2023-11-04T17:21:23","slug":"second-hand-cars-being-sold-for-more-than-they-were-worth-a-decade-ago","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/car-reviews\/second-hand-cars-being-sold-for-more-than-they-were-worth-a-decade-ago\/","title":{"rendered":"Second-hand cars being sold for more than they were worth a decade ago"},"content":{"rendered":"

Second-hand car owners are selling their used vehicles for more than they paid for them almost a decade ago \u2013 due to a huge supply shortage and surging demand.<\/p>\n

With used car prices up 49 per cent on 2019, motorists are enjoying bumper windfalls on vehicles bought years ago.<\/p>\n

In one example uncovered by the Sunday Express a driver was offered \u00a37,000 by car buying site We Buy Any Car for a 2014 G-reg Nissan Micra. The valuation is \u00a31,000 higher than the \u00a36,000 the owner paid for the car nine years ago.<\/p>\n

Experts say the reason is a simple case of supply and demand. During the pandemic, used car supply was squeezed and a world shortage of microchips brought car manufacturing almost to a halt.<\/p>\n

New car buyers had to compete with used car buyers in a competitive market. Mark Oakley, director of AA Cars, said: \u201cWe rarely see cars increase in value as they age. Some of the most in-demand Ulez-compliant models are still appreciating even as they sit on the drive.\u201d<\/p>\n