The veil has been lifted on a list revealing the cheapest places to buy a car by showing the most budget-friendly and wallet-wincing cities in the UK when it comes to purchasing a set of wheels between 1 and 5 years old. Ready yourselves for potential savings, but be prepared to potentially clock in some travel miles.
Based on the latest insights from CarGurus, the average price nationally for a used car from the model years 2018 to 2022 rests at £23,516. Yet, as with any statistical story, location spices things up.
Drum roll for Hull – the MVP of used car affordability! The city boasts average listing prices at a mere £18,480, leaving wallets feeling £5,036 (that’s a solid -27.3%) happier than the national average. Liverpool isn’t far behind, bringing forth average savings of £3,262 (-16.1%), followed by Glasgow, ringing in at a refreshing £2,390 (-11.3%) below the national standard.
But wait, there’s the metropolis contender – London. Hold onto your hats, because London’s flair extends to its prices, showing off a tag that’s £9,694 (+29.2%) above the national benchmark.
The runners-up for the “highest price tag” award include Southampton, where used car prices tower over the UK average by £1,645 (6.5%). Birmingham joins the ranks, showing off a wallet-wincing £1,557 (6.2%) premium above the national mean.
In the realm of car models, CarGurus conjured up comparisons that could send chills of excitement down frugal shoppers’ spines. Imagine a Volkswagen Golf (talking about a MK7 here so 2018-2022) striking a pose in Hull with a modest price tag of £18,639. Now flip the map to London, and behold a hefty £22,511 list price for the same car. Crunching the numbers unveils a potential saving of £3,872 – a pretty penny in anyone’s book.
This is useful data to know, as used car prices have continued to rise since the pandemic, and certainly see no amount of slowing down. If you’re after a bargain, perhaps taking the scenic route is worth it after all.