New figures released recently show that the demand for used cars are on the up. This is proving that the British car industry has finally and quite literally ‘turned the corner’.
According to Carsite.co.uk the price of a quality second hand motor is on the up and it’s all down to the famed government car scrappage scheme and reduction in VAT. The statistics show that between February and March used cars worth between £4,000 and £6,000 have increased in value by an average of £200.
Talking about the long term benefits of the cash for bangers scheme, Alistair Jeff from Carsite.co.uk said: ‘the scrappage scheme may be in the final stages but its effects will be long lasting. We're looking at a new era for the second-hand market.’