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Second hand car prices increase in value

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Used cars are now holding their value better than any time in recent Irish history.

New research by TCD and NUIG economist Dr Tom Gillespie for classified car sales website
DoneDeal reveals that, potentially, a 2015 registered used car purchased on January 1, 2020 may now be worth more in July 2021, even after adding 20,000km to the car.

Dr Gillespie said that there are several reasons behind the value increase, including a shortage of new cars due to pandemic factory closures, less UK imports as a result of Brexit, pandemic savings by the general public, and the decreased usage of cars during lockdowns.

According to the newly developed data, used car prices have increased by 40% in the year from June 2020 to June 2021.

This increase in prices has outweighed depreciation rates for most vehicles and is having the greatest impact on the lower end of the market said the report.

However, David Randles, of Randle Bros on the Muckross Road and chairman of the Kerry branch of the Society of the Irish Motor Industry (SIMI) said that these figures only applied to ‘in-demand' cars like a Nissan Qashqai or a Ford Focus or similar or cheaper ‘starter' cars.

“The reality is it has never been a better time to buy new,” Mr Randles told the Killarney Advertiser. “A customer with a trade-in worth €15,000 a year ago might get €16,000 or more for certain models.”

Beginner cars are also increasing in value, mainly due to scarcity in the market.

“Two years ago, a 10-year-old car might make €2,000, now they could get up to double that,” he added. “Someone with a second car that they don’t need could get the most benefit out of all this if they chose to sell.”

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Car Show to feature special Toyota celebration

Killarney Valley Classic & Vintage Club’s annual Car Show is set to take place this Sunday, July 6, at the Killarney Racecourse, and this year’s event will include a special […]

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Killarney Valley Classic & Vintage Club’s annual Car Show is set to take place this Sunday, July 6, at the Killarney Racecourse, and this year’s event will include a special celebration of the Toyota Celica, in association with Kellihers.ie.

Kelliher’s Toyota, the local dealer, is bringing a host of iconic Toyota models for display.
Visitors can expect to see a 2003 Corolla 1.8 T-Sport, a 2013 GT86, a 2023 GR 86, and a 2023 Yaris GR.
The “CAR SHOW 2025” will open for car entries at 10am, with public admission beginning at 11am.
Entry to the show is by donation on the day, and children can enter for free. Any Toyota Celica model at least 20 years old (pre-2004) arriving at the show will be entered into a special prize draw. All car models 20 years and older, regardless of make or model, are invited to participate.
Further information can be found at
www.killarneyvalleycv.com or by contacting 087 3381842.

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Killarney Valley Classic & Vintage Club to host open coffee morning

Killarney Valley Classic & Vintage Club (KVCVC) will hold an open coffee morning on Sunday, March 30, from 10am to 12pm at the Vintage Shed, Upper Lewis Road. The event […]

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Killarney Valley Classic & Vintage Club (KVCVC) will hold an open coffee morning on Sunday, March 30, from 10am to 12pm at the Vintage Shed, Upper Lewis Road.

The event aims to welcome new members.
“Everyone is welcome. Come look around, chat, see some of our upcoming projects. It might be something that is right up your street,” said club chairman Tom Leslie.
The club also participated in the St Patrick’s Day parade.
The KVCVC is also offering a special March promotion on merchandise. Regatta jackets are now available for €55, a €5 discount. For further details, contact Tim on 087 4551887.

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