Used cars have fallen sharply in price last month. For the first time in 2023, a decrease can be seen in second-hand cars that run on fuel. In June, for example, a second-hand car costs an average of 832 euros less than a month earlier.
This is evident from the combined figures of Gas Pedal.nl, AutoTrack.nl and Autowereld.nl, where three million people search for a second-hand car every month. There are also large price differences between the fuel types. Compared to May, the petrol car is now 928 euros cheaper, the diesel 239 euros and the hybrid even 1,380 euros. The only exception is electric cars. The second-hand version of this car has become more than 600 euros more expensive than in May.
Prices have been rising since June last year
This change is striking, because since June 2022 there has been a price increase in the average price for a used car. For example, in 2022 the Dutchman still paid an average of 22,108 euros for a second-hand car, in 2023 that amount has risen to 23,956 euros. Until the month of May, when prices fell sharply. “We cannot yet say exactly where the decrease comes from,” says Ingrid Spierts, expert at Gas Pedal.nl. “What we can say is that the decrease is greatest for cars that run on petrol or partly on petrol. This could be because prices at the pump have risen sharply.”
Prices fall, but budget rises
Despite the price drop, the budget for a second-hand car has increased. Inflation probably also plays a role here. Spierts adds: “If you look at the average price that consumers search for, you also see a shift. For example, last year the Dutchman still had an average search amount of 18,320 euros, now that is almost 10 percent higher, namely at 19,531 euros. However, it is still too early to say whether the drop in used car prices will also lead to a permanently lower search price.”
Electric and hybrid have fallen sharply in value over the past year
Only the electric car ‘drives’ against the current. This variant was the only one to increase by 600 euros in June compared to May. You now pay an average of 40,914 euros for a second-hand electric car. However, the average price for a hybrid takes the cake. In 2022 that was still 39,664 euros, now it is 43,705 euros. So you pay more than 4,000 euros more than last year.
Type of fuel also determines your premium
“The type of fuel you choose also has a direct effect on your car premium, which is also something to consider when you are going to orientate yourself on a site like Gas Pedal.nl,” says Menno Dijcks, car insurance expert at Independer. “An insurer therefore not only looks at age, place of residence and the number of claim-free years. In addition to the type of fuel, the make, type/model and year of manufacture also play a role in determining the amount of your premium. It is important to pay attention to this before buying a car.”
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