Buying a used car can be a really great idea, especially if you can find the sweet spot of a reliable model in a good condition with as few miles as possible. It is even better when you can get a great price too. However, did you know that the region where you search for vehicles can actually have a huge impact on the values? It might surprise you how much cheaper the same vehicle could be simply because of the location. It is always worth considering, especially if you offer a car broker service.
Latest results
The best way to illustrate our point about regional differences in price is to look at the latest figures for April. Luckily, we can look at regional prices from MOTORS. They have done an analysis to see what prices are in 10 different regions in the UK.
The headline figure here is that Wales was the cheapest region to buy a used car in April. The average value of a vehicle was £14,519. That is £2,306 behind the national average. Even more impressively, it was a massive £5,847 behind the most costly area (London had an average of £20,366).
It is also worth looking at the year on year and month on month figures. The average YoY value in Wales was down by 12% from £16,469 in April 2023. On a brighter note though, the MoM value was up slightly, adding £93 to the average. Other regions had YoY drops ranging from 2% to 12%. Some had MoM increases by 4%, with the UK average at 1%.
Consider the model
As you can see, generally it is cheapest to buy used cars in Wales than other regions at the moment. However, it is important to look at it model by model. There can be surprising results here, with some examples that don’t follow the trends.
If we take Wales as an example, you would expect it to be the best place to look for different models. However, the MOTORS figures actually say it is the most expensive region to buy an Audi A3. That could be due to a number of factors, including a lack of supply and high demand.
Similarly, according to the data London is the most expensive region to buy vehicles. However, it had the most affordable prices if buyers want a Volkswagen Golf. Again there could be a number of factors at play; this time it could be that there are lots of models available in the city.
Look at any region when you offer a car broker service
One of the best reasons to start working in car broking is you don’t have any geographical restrictions. You can look anywhere to find quality vehicles for clients. You even have the opportunity to check in different regions where the prices could be cheaper; that could earn you a reward for saving the client money.
You can learn more about providing a car broker service on our website. We have hands-on experience and offer some fantastic tools if you decide to start your own business.
