Used cars are now 53 percent more expensive than pre-pandemic levels.
New figures from DoneDeal show prices increased by a further eight percent in the first quarter of this year – a tenth consecutive quarter of growth.
The price of used hybrid vehicles is also up 25 percent year-on-year, while electric vehicle prices have risen by 19 percent over the same period.
Author and economist, Dr. Tom Gillespie, says it’s hard to see used car prices levelling off soon:
