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Drivers are being warned of the dangers when buying a second-hand vehicle as many motorists admitted they were worried about overpaying.
The average price of a used car is now £17,319, a staggering 39 per cent increase compared to November 2019, but a slight drop of four per cent year-on-year.
Demand for used cars has remained strong as motorists opt for cheaper second-hand vehicles amid the ongoing cost of living crisis and rising motoring costs.
Prices differ across the market, according to Auto Trader, as the average price of a low emission vehicle fell by almost 12 per cent and used electric car prices plummeted by 21 per cent.
The average price of a used car is now £17,319
GETTY
When opting for a second-hand car, drivers are generally going for models that have been on the road for more than 10 years, with prices of these vehicles jumping by seven per cent.
The popularity of used vehicles has also grown as drivers prepare to switch to electric cars but are waiting for the upfront cost of an EV to drop.
Research has found that eight in 10 motorists admit to having worries when buying a used car with people most scared of overpaying for the vehicle.
More than half said they were concerned about the vehicle not being as it seems on the advert, either having undisclosed damage or even needing to make important repairs.
Drivers are also becoming increasingly aware of the importance of vehicle recalls, with one in four motorists saying that was a significant fear.
Last year, the DVSA introduced new changes to ensure that motorists would be aware of whether their car had an outstanding recall notice, with an MOT certificate now displaying the information.
The organisation said this would alert drivers to any changes they need to make and whether it needs to be fixed or replaced by the manufacturer.
John Veichmanis, CEO at Carwow said: “Buying a second-hand car can have lots of benefits - it's more affordable than buying new, you avoid the new car ‘depreciation’ hit, and insurance costs are often lower.
“But it is still a big investment, and you want to make sure that your money is spent on a vehicle that is safe, exactly how it’s described at the point of sale and worth what you’re paying for it.
“If you don’t know the seller personally, it can require a leap of faith and one that can have serious consequences if you get it wrong.”
He stressed the importance of people learning about the car before they make the decision to buy it by giving them vital information.
A new car history service cross-references thousands of data sources, including the DVLA, police databases and insurance and finance companies to provide the information.
It will instruct motorists about a manufacturer recall, if the car has been stolen, written off, recorded as scrapped or has outstanding finance.
Veichmanis added: “Our Car-Check reports help give drivers confidence that they are not unknowingly buying a car that is unsafe or overvalued.
LATEST DEVELOPMENTS:
MOT test certificates will now display recall notices
PA
“By providing a comprehensive check on the condition of a used car they are thinking of purchasing, we’re able to give motorists peace of mind.”