There is a dire shortage of affordable used cars with the number of secondhand motors on sale for £2,000 or less falling 25 percent in 2021.
Experts are now warning low-cost motorists are ‘being priced off the road’.
There are now 23 percent fewer Vauxhalls on sale for £2k and under, and 17 percent fewer Fords.
Car buying website Desperate Seller has compiled the data and says the ‘unprecedented’ situation is being caused by a ‘perfect storm’.
There has been a long-running shortage of new cars due to the semiconductor crisis, which is now being felt in the secondhand market as fewer cars come off PCP and lease agreements.
This supply-and-demand imbalance is pushing up prices across the used car chain.
“The timing for this could not be worse for many consumers, set against the backdrop of the current cost of living crisis,” said Desperate Seller’s Henry Smith.
“Customers are faced with less choice, and potentially a longer distance to travel to see these cars in person – a luxury many shopping in this price bracket cannot afford.
“The worsening situation could result in vehicles being out of reach for low-income households – the people who often rely the most on having a reliable car.”
How can I buy an affordable used car?
Desperate Seller advises people in this price bracket to keep their options open. “You might have a dream car in mind but don’t narrow your search unrealistically.
“Be willing to compromise on make, model, colour, even miles on the clock. Be willing to compromise and you might just end up with a belter of a bargain.”
Used car buyers should not add the pressure of a deadline – but should be ready to move fast when the right car does crop up. Have everything in place, including finance and all the relevant documents.
It’s also important to resist the temptation of shopping in an unreliable, unestablished location. “It’s critical that you don’t make the wrong choice, or buy something shady that will give up on you in a few days or weeks.”
What are the best-selling cars for £2,000 or less?
- Peugeot 206
- Citroen Xsara Picasso
- Suzuki Carry
- Peugeot 307
- Vauxhall Vectra
- Volvo S40
- Ford C-Max
- Citroen C2
- Suzuki Wagon R
- Mitsubishi Colt
ALSO READ
Trio of 304mph Bugatti Chiron Super Sports delivered to London
Bentley details £2.5bn electric car model blitz: FIVE new EVs from 2025
The most stylish used cars for £5,000 or less