Used car prices fall by over 8% says Auction4Cars

Average used car prices fell by over 8% last month according to Auction4Cars.

New figures from the ground breaking fee-free car auction website, part of car supermarket Motorpoint, revealed prices had fallen to £2,983 last month after several months of steady rises.

Auction4Cars has enjoyed a strong start to 2011, selling almost 5,000 cars during the first quarter of 2011. What’s more, traffic to the website last month was up over 15% on the same time last year.

Says Neil Prescott, Group Disposal Manager at Motorpoint: “This is a clear indication that used car prices are finally starting to level off, as widely predicted, after the upwards trends of the last few months.”