Used cars have become even more expensive: small cars in particular are rising sharply in price

The average price for a used car rose again in October, according to the AutoScout24 car exchange. The average price of a used car was 24,428 euros.

That average price is 2.6 percent higher than the last record set in June 2022. In September, the Dutch surge appeared to be lagging behind that of the rest of Europe. But in October, the price rose sharply again. The supply has also increased. Compared to the beginning of the year, there is 10.2 percent more supply.

Especially small used cars are more expensive

Although actually all used cars are becoming more expensive, the largest increase can be seen in the small car segment. The price of a small car rose by 5.7 percent in October. The average price is thus 14,065 euros. Mid-size cars went up in price by an average of 3 percent. In this segment, you pay an average of 24,616 euros for a used car.

Why are used cars increasing in price?

No wonder used car prices have gone up. Due to the war and the corona virus, many parts such as chips and wiring harnesses are missing. If the delivery time for a new car is very long, you can opt for a young used vehicle. More demand automatically means a higher price.

In the Netherlands, the warranty on used cars was extended from six to twelve months on April 17, 2022. If you buy a car and have checked it yourself thoroughly for problems or defects, you always have a guarantee. That is, if there are problems in the first 12 months, the seller must prove that the problems did not exist when the car was bought. This guarantee is always valid.

This longer warranty is great for the consumer, but of course it means more costs for the seller. This can therefore affect the price of used cars.