Prices for second-hand cars have begun to stabilise.
The entire market has been in turmoil since the pandemic, but DoneDeal says second-hand motors still cost almost 70 per cent more when compared to the onset of Covid.
Environmental Economist, Dr. Tom Gillespie wrote the report.
He says there’s a big difference, though, between the lower and upper end of the market:
“What we’re seeing in the latest quarterly update from DoneDeal is that prices have begun to stabilise after a long period of quite intense inflation since the start of the pandemic where prices were going up by an average of 6% percent per quarter.
“They’ve now stabilised down to 1.4% in the last quarter on average”.