The second-hand car market is booming, with roaring sales and more choice than ever.
Nearly two million pre-loved cars were sold in the first three months of this year — with the now discontinued Ford Fiesta (80,814 sales), Vauxhall Corsa (66,821) and Ford Focus (60,058) taking the top three slots, and black, grey and blue proving the most popular colours.
The UK regions that saw the biggest sales were the South-East (289,011), North-West (214,168) and West Midlands (200,102) — and the market is continuing to accelerate.
Sue Robinson, chief executive of the National Franchised Dealers’ Association (NFDA), said the first quarter of 2024 saw ‘remarkable growth’, with the latest official figures showing a 6.5 per cent increase and 1,967,923 sales — the strongest start to a year since before the pandemic in 2019.
As cash-strapped motorists watch their pennies, many find a well-looked after second-hand car more affordable and better value than a more expensive new model. However, buying a good second-hand car at a fair price can be fraught with pitfalls, so your watchword should be ‘buyer beware.’ Here are my top tips.
Flying high: The Ford Fiesta was the best-selling second-hand car in the first quarter of the year
Work out what you need
It sounds obvious, but pinpoint what you’re looking for, whether it’s a small hatchback for short runs, a long-legged motorway cruiser, a family load-lugger or a fun and sporty cabriolet.
Are you a new driver? Then consider vehicles with a low insurance rating to keep premiums down. If fuel efficiency is important to you, consider a self-charging petrol-electric hybrid, plug-in hybrid or a fully electric vehicle.
Make a checklist
Draw up a list of features you want and tick them off. A big boot? Flexible seating? Space in the rear for a growing family? Manual cars are fun to drive, but automatics are more prevalent among newer vehicles.
Set a budget
Affordability is key — but so is a vehicle’s age and condition, which both affect resale values.
A £10,000 budget might buy you a cracking small hatchback, or a much older premium SUV. But remember to factor in running costs and garage repair bills.
Watch out for scams
Scams in the second-hand market are on the rise, according to consumer champion What Car?
Some involve fake car dealerships appearing as convincing websites to fleece customers. Other fraudsters place fake adverts on sites such as Facebook Marketplace.
One red flag is a car with a price that seems too good to be true. Telltale signs also include customers being asked to pay outside the selling platform, or finding the ‘seller’ has no idea who you are when you collect the car.
Trust your instincts and, if you feel uncomfortable, walk away.
Gerry Anderson inspires Ferrari
Remember the late, great Gerry Anderson of TV’s Thunderbirds and Stingray fame?
Well, his creations have inspired the impressive new Ferrari V12 supercar called ’12Cilindri’ — Italian for 12 cylinders — that combines futuristic sci-fi styling with a nod to the firm’s classic Daytona grand tourers of the past.
Ahead of its official unveiling in Miami, Florida, I had a preview at Ferrari HQ in Maranello, Italy.
Expensive: First deliveries of right-hand drive models arrive this autumn, but don’t expect much change from £500,000
It was here Ferrari design chief Flavio Manzoni revealed the inspiration for the car includes elements from Stanley Kubrick’s 1968 cinema epic 2001: A Space Odyssey and Anderson’s TV series Space 1999. Manzoni even bought the DVD set!
Available as a coupe or open-top spider, the 211 mph-capable two-seater has a 830hp, 6.5-litre engine and can go from rest to 62 mph in 2.9 seconds and to 124 mph in under eight seconds.
First deliveries of right-hand drive models arrive this autumn, but don’t expect much change from £500,000.
