New Research Shows Used Cars Are Best

Tue 17th Aug 2021

The cost of buying a brand new car is rising faster than ever, with new research showing that new cars are more expensive than ever.

The analysis from price comparison website Uswitch has found that the cost of some of the nation’s favourite cars, to buy brand new, is rising three times faster than earnings, making used car options a far better choice for many looking at buying a car.

Brands such as the Vauxhall Corsa and the Ford Fiesta have jumped in price by more than 40 per cent in the last ten years, with a Volkswagen Golf seeing a price increase of 72 per cent since 2011. These huge increases hit harder when compared against the rise in the average annual salary which has only risen by 22 per cent over the last decade.

“It’s good news for drivers that car insurance and fuel prices have decreased over the last decade,” said Joel Kempson from Uswitch.

“However, our research also reveals that despite the savings that could be had on fuel and insurance, tax and purchase prices have both risen considerably.

“With the purchase price of popular cars having risen at a faster rate than our average wages, it could mean that more people will struggle to afford a vehicle, especially first-time drivers.”

The Volkswagen Golf saw the biggest rise, with the Ford Fiesta close behind with a 67 per cent increase, a Vauxhall Corsa has risen by 40 per cent and a Ford Focus jumped by 39 per cent.

The Uswitch report looked at some of the other associated motoring expenses, finding that the cost of insurance has fallen by 48 per cent, however the data might need updating as it suggests that the cost of a litre of petrol has also dropped from the £1.33 average in 2011, though recent jumps have seen fuel costing similar prices to 2011 levels.