Latest research from parkers.co.uk has uncovered that NEW cars are currently cheaper than USED ones.
Price cuts designed to shift stock and big discounts from car supermarkets means that the price of a new car can be the same - or lower - than a year-old used car with several thousand miles on the clock. As shortage of good quality used cars available to dealers has been responsible for a rise in used car prices. Values have risen significantly since the start of 2009.
Parker's has been researching the market and offering car buying advice since 1972 - this is the first time we have seen used cars command a premium over new ones. Although it's not the case across-the-board, there are savings to be had on a significant number of big-selling models.
We found an 08-plate Vauxhall Corsa 1.0-litre Life model with 5160 miles on the clock for £6494. A new 09-plate of the version is available from dealer Arnold Clark for nearly £600 less at £5995.
It's not just small cars though as we found a new Mazda 6 cheaper than a used model. An 08-plate 1.8-litre S model with 2500 miles is available at £12,499. The same model but a new 09-plate is on offer for £1000 less at £11,485 from car supermarket Cheap-Cars-Online.
However, this price reversal isn't set to last long with used and new prices set to return to their normal state. As more of the excess new car stock gets shifted the deals and price cuts will soon dry up.
Simon Harris, Parker's consumer editor, said: "This will only be a temporary phenomenon in the market place. Used price guides are usually published monthly and sometimes this is too long a delay to react to sudden changes in the market.
"A used car is always worth less than a new one, so given time the market will correct itself. In the meantime people should keep shopping around to find the best deals."
At the same time new car prices are set to go up as a number of manufacturers are raising the list price of their cars despite new sales continuing to slump.
The biggest rise, as revealed by Parker's, comes from Ford who are putting up prices by 3.75 per cent while SEAT is raising prices by 3.5 per cent and Nissan by 3.4 per cent.
Clicking on the links will take you to the deal
| Model |
List price |
Deal price |
Used price (Real cars spotted for sale) |
| Subaru Impreza 2.5 WRX# |
£19,620 |
£12,995 |
£14,495 (08-plate, 7500 miles) |
| Vauxhall Corsa 1.0i Life* |
£9945 |
£5995 |
£6494 (08-plate, 5760 miles) |
| Citroen C5 Tourer 2.0 HDI Exclusive |
£22,840 |
£18,495 |
£19,000 (08-plate, 6754 miles) |
| Chevrolet Matiz 1.0 SE+ |
£8470 |
£5495 |
£5495 (08-plate, 10,325 miles) |
| Mazda 3 1.6 Sport# |
£14,836 |
£11,994 |
£11,994 (58-plate, 4500 miles) |
| Peugeot 308 2.0 SE |
£19,440 |
£14,620 |
£17,000 (58-plate, 1784 miles) |
| Mazda 6 1.8 S Hatch |
£15,125 |
£11,485 |
£12,499 (08-plate, 2500 miles) |
* The price of this car has since been raised by the dealer to £6295. That's an increase of £300, but still less than a year-old example.
# This deal has finished and is no longer available.
