Demand burgeoning for high mileage used cars
New research has revealed growing demand for high mileage used cars as customer confidence in the reliability of older vehicles grows.
According to MotorEasy, 35% of car dealers think the market for six-figure mileage cars is growing.
This comes after a Freedom of Information Request revealed that more than 10% of the 42.5 million cars on UK cars roads have between 100,000 and 150,000 miles on the odometer, with more than six million cars registered by the DVLA registering over 100,000 miles on the clock.
Duncan McClure Fisher, CEO of MotorEasy, said: “The UK’s car parc is getting older, so used cars are naturally carrying more miles, meanwhile, cost of living pressures are squeezing buyer’s budgets.
“Motorists increasingly have to be realistic about what they can afford. Today’s modern cars are built to last though, so buyers who do their research into a vehicle’s service and maintenance history, can often find themselves a great well-maintained car at an affordable price.”
He added: “Used car buyers should no longer fear the 100,000-mile mark. A properly maintained higher mileage vehicle often has plenty of life left in it. Once buyers have found the right car, an extended warranty can provide valuable protection against unexpected repair costs, while helping preserve the cars appeal and re-sale value when it is eventually time to sell. This puts drivers in control of future finances and helps protect their investment at the same time.”
