Find Used Car Prices

Q.Anyone got any opinions on whether the governments talk of lowering new car prices will have a knock on effect into the used car market? I am looking to buy a used Citroen ZX or Peugeot 306 for around ?000 and can't decide whether to wait a while.

A.I personally don't think it will affect used car prices that much. You have to remember that used car prices mainly reflect the price originally paid by the heavily discounted fleet buyers and the like which is why we get such massive depreciation as private buyers before the new car even gets home! Therefore as fleet buyers may have to pay slightly more for their cars (to offset the lowering of prices to private buyers) the second hand values may stay pretty stable. You just won't lose so much on a new car within the first few weeks... The initial effect will be on those trying to sell a year-old whatever who find that they are being undercut by new ones. Someone thinking of a 4000 quid car isn't going to get a new one anyway, and it will take a few cycles of selling (the guy with the year-old car will hang on to it because he might as well, then accept his loss, and the person he sells it to will then sell their old car and accept a slightly smaller loss and so on down to you) before the effect is felt at the bottom of the market. I see the Consumers' Association website had a million hits on their first day...

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