Used cars are now a very sound investment for the savvy motorist, according to a major vehicle repairs firm. Kwik-Fit states that there has never been a better time to spend money on improvements to used cars, with owners reaping the benefits in the form of rising used car values.
According to research carried out by the firm, used cars have gained an average of 27 per cent in value year-on-year. In addition, it found that 6.4 million motorists are using their car’s rising equity as a reason to make vehicle improvements over the next 12 months.
“Second-hand car owners are increasingly prepared to spend money to keep their car in good condition as they are more likely to get what they shell out back when they sell it,” said David White, customer services director at Kwik-Fit.
Earlier this month, the government launched a new voluntary scheme under which used cars for sale are given easy-to-read fuel economy labels to give consumers clear at-a-glance information about running costs and environmental performance.
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