Older used cars growing in popularity
New research has revealed burgeoning demand for older used cars with more than 100,000 miles on the clock.
According to the Startline Used Car Tracker for July, 35% of dealers have reported a growing market for older models, with 40% saying the quality of modern vehicles means their reliability regularly exceeds 100,000 miles.
However, the research also found that 38% of car buyers consider a vehicle with more than 100,000 miles as too great a risk, with 28% of dealers believing these models require too much investment to be saleable and the same number saying improved warranties are required to sell cars at that mileage.
Paul Burgess, CEO at Startline Motor Finance, said: “We carried out this research after recent reports showed that while there were now six million cars on UK roads with more than 100,000 miles, only one in four people would consider buying a car with this kind of mileage.
“Also, the average used car has been getting older and higher mileage since the pandemic and we thought it would be interesting to get a dealer perspective on the situation.
“What we’ve found is that a significant minority of dealers seem to feel positive about 100,000 mile cars, saying they often carry their wear well, have plenty of life left, and that there is a definite group of pragmatic buyers for these vehicles.”
