Prepare for a rush of used cars on the market

Prepare for a rush of used cars on the market

Avid used car buyers and those who just want to buy a cheap decent vehicle should keep their eyes on the used car marketplace in the coming month, as a wide range of part-exchange and ex-fleet cars are set to enter the market.

The reason for this influx of used cars on the market is the forthcoming release of the new 63 registration plates. When a new reg plate is released, this typically increases the amount of used cars doing the rounds, as owners trade in their old vehicles to buy new ones, and corporate fleets upgrade their inventory.

For those wanting to buy a decent used vehicle but finding it hard to locate one, this can come as a blessing. Quality used vehicles have been in a pretty limited amount this year, and so a wider range of cars to choose from will also mean that prices will be going down too. For every new car that is sold, there is a high chance a used car enters the marketplace, which can indeed spark off other subsequent sales.

The Society of Motor Manufacturers and Traders (SMMT) is predicting the new plates will be snapped up in September, with buyers being inspired by deals such as 0% finance and other incentives. The editor of Used Car Market Report, Tim Naylor, commented: "We also anticipate seeing more good-value, high-mileage older cars, which means there should be something for everyone in every price range."

---

---