June 18th, Shropshire – JT Hughes, a chain of car dealerships in Shropshire and Powys, has recently conducted a study which looked at the price difference between used cars on sale in the north of the UK compared to used cars on sale in the South.
Here is a brief overview of their findings:
Used cars are, on average, £443 (8.49%) cheaper in Sheffield than they are in London and its surrounding areas.
- Moving further north, used cars in Newcastle are, on average, £239 (4.62%) cheaper than in London.
- The “sweet spot” for used car buying in the North is the Manchester, Leeds and Sheffield area (the North’s most populated region).
- Car prices begin to rise again north of this “sweet spot” due to scarcity, as seen in the price differences between Sheffield and Newcastle. A smaller population means less cars on sale and higher prices.
JT Hughes also looked and the North-South price divide from a practical point of view. Is it worthwhile for those from the South East to travel north to purchase a used car?
The best price found online for a train ticket from London Paddington to Sheffield, brought one week in advance, was £74.50.
- Driving the newly purchased car back to North London will cost around £35, assuming a 35-MPG fuel efficiency.
- Combined, these two costs equate to a total spend of just under £110.
- This means that traveling to the “sweet spot” to buy a car can result in worthwhile savings, even after factoring in travel costs.
The average price of used cars in each region was calculated by examining six popular hatchback models on used car portal Auto-Trader. These models were the Ford Fiesta Zetec, the Citroen C1, the VW Golf, the Peugeot 207, the Renault Clio and the Vauxhall Astra.
To ensure that the averages cited above were accurate, JT Hughes found 15 identical examples of each of the six models, 5 in each region. To make sure that these cars were of comparable value, all cars had to fit within a certain criteria:
- Same colour
- Same engine size
- Between 30,000 and 50,000 miles on the clock
- Either an ‘08 or ’09 registration
- Same number of doors
- Similar overall condition
- Between 9 and 12 months MOT
- Same “extras.” E.g. Air Conditioning, sound system, central locking etc.
Paul Tench, Group Sales Director at JT Hughes, gives a bit of insight into what the research means to consumers:
“All of the models we have evaluated have one thing in common, they are perfectly suited to younger drivers. Although saving a few hundred pounds might not be worth a day of traveling for someone with a career behind them, for many young drivers and people from low income families this small saving could make the difference between getting a car which is simply ‘ok’ and getting a dependable car that’s in good condition.
“Not only is this good for the driver’s self-esteem, but could also lead to more people on our roads driving cars that are safer and more robust than the ones they might have brought without the saving.”
– About JT Hughes –
JT Hughes is one of the longest established motoring businesses in the Shropshire region, with nearly 40 years of retail experience under their belt. They pride themselves on understanding the needs of the modern motorist – that’s why they focus on delivering choice, quality, reliability, performance, style, value for money and above all, service. Their four dealerships offer more than just new and used car sales. Motability, parts, accessories, accident repair, MOT and servicing – they’re all available under one roof. JT Hughes also runs a successful commercial vehicle, fleet and contract hire operation.
For more information about the study, or to take a look at the raw Auto Trader data, please don’t hesitate to get in touch at the address below.
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– Contact Information : http://www.jthughes.co.uk/