UIA Insurance News

Used car prices up 25%

The average cost of purchasing a second-hand car in the UK has risen by a quarter in the last six months.

Figures compiled by trade pricing publisher Glass's Guide have shown that the number of vehicles currently available in the UK has fallen dramatically, inflating the price for those second-hand cars which are up for sale.

Anyone interested in purchasing a used vehicle should remember to take out car insurance before doing so, as it is illegal to drive on UK roads uninsured.

"The remarkable and unparalleled recovery in prices since January might appear out of step with a depressed economy, but in reality the higher prices stem more from the limited supply of used cars rather than a significant increase in retail demand," commented Adrian Rushmore, managing editor of Glass's Guide.

Meanwhile, a recent poll carried out by Which? Car revealed that consumers across the UK feel that the Honda Accord is the most reliable car that is currently available.

Respondents to the survey rated the vehicle as being 99 per cent reliable, meaning that the vehicle took the top spot in the research and was crowned UK's Most Reliable Car 2009.

Did you know that UIA offers competitive rates on home insurance? Great deals also available on car insurance, travel insurance and pet insurance too. Up to 15% discount when you apply online.

Written by Samuel Tudor.