Second-hand car prices begin to stabilise

Prices for second-hand cars have begun to stabilise.

The entire market has been in turmoil since the pandemic, but DoneDeal says second-hand motors still cost almost 70 per cent more when compared to the onset of Covid.

Environmental Economist, Dr. Tom Gillespie wrote the report.

He says there's a big difference, though, between the lower and upper end of the market:

''After a long period of quite intense inflation since the start of the pandemic, where prices were going by an average of 6% per quarter they've now stabilised down to 1.4% in the last quarter on average.''