Used Car prices still on the increase.

During the last 12 months residual prices of used cars had seen a drop of about 22% across the board. There were exceptions as always but the average drop weas 22% from the year before. But in a dramatic turnaround prices have continued to increase returning to the average prices prior to the drop. The latest figures released by Manheim Auctions show sustained recovery throughout the first quarter of 2009. In December 08 a typical for year old average mileage car would sell for around 29% of its cost when it was new. During March that figure has now risen to 36%. UK Carline has always been able to source late low mileage vehicles should the need arise and during the last three months of 2008 prices were so low the simple value of a typical 07 plate 12000 mile car was very hard to ingnore. "A selection of these late low mileage cars that were supplied towards the end of last year are actually worth more now than then" comments Simon Booth General Manger at UK Carline. "The increase has been incredible to watch, but the shortage of new cars means that the recovery of used car prices is likely to continue" he said.