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Car finance news: Average used car value £4,743 in October

Those shopping around for a suitable used car loan may be interested in the most recent average price of used cars in the UK.

Those shopping around for a suitable used car loan may be interested in the most recent average price of used cars in the UK.

According to vehicle auction company BCA, the mean price for a used car in October fell by £69 to £4,743.

This could be great news for drivers who want to buy using used car finance or a used auto loan, as they could take advantage of lower prices at the moment.

Tony Gannon from the BCA said feedback from auction buyers suggested a "steady demand from retail customers".

Compared to 2007, used car values are £743 lower and October 2008 is the fourth consecutive month that the average value has been below £5,000.

Of course, there are a range of permits and regulations motorists must ensure they follow after purchasing a car.

These include buying car insurance, road tax, registering the vehicle with the DVLA and confirming the vehicle is roadworthy.


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