20 Cars You Should Sell Right Now Because Of Rising Prices

In recent months, the UK’s used car market has seen a surge in prices. However, specific vehicles are witnessing a greater rise in value compared to others.

The valuation specialists, Cap HPI update the prices of different vehicles nearly every day. The company notified that some vehicles appreciated over £1,000 in value in just a month. The two most obvious reasons behind this surge are lack of supply and increased demand for used cars. This shortage has pushed secondhand car prices upward - they climbed at an average of 9 per cent in the last two months.

A targeted survey reveals the car models that experienced the most price rise in May 2021. For accuracy, they included vehicles with 2018 registration and 60,000 miles on the odometer.

The notable winner is the Toyota Auris that gained 13.4 per cent value in May 2021. The Toyota GT-86 topped the list of cars that demonstrated the highest surge in monetary value. On average, last month, the monetary value of models increased by £1,512.

In the current market situation, consumers who’ve bought a vehicle in 2020 and drove it for months can now sell them for a profit. However, the majority of car owners remain unknowing of the fact that their vehicles have risen in value. And now’s a good time to recognise the sale proceeds for their appreciated property.

The proof of it is that the Car Buying Dealers are now spending more on marketing campaigns via the internet, television, and radio to stock up their inventory, offering owners to cash in their cars.

Head of the valuation at Cap HPI, Derren Martin while sharing his thought on the situation said, “With demand from dealers at a high, stock levels low and concerns over the future supply of used cars, there has never been a better time for consumers to cash in on their cars.”

“Of course, if they need to replace one, they will be paying high prices. In short, now is the time to sell, with car-buying services and dealers prepared to pay £100s or even £1000s more than they were just a few weeks ago.”

Following is the list of the top 20 vehicles that saw the highest rise in prices:

Bear in mind that these vehicles sport 2018 plates and 60k mileage. Sellers with newer cars and lesser mileage might secure a better price.

 Although the prices may not continue to rise at the existing rate, Cap HPI anticipates that they will remain high for the coming months until considerable supply enters the market.