Sunday, 25 May 2008

Crunch hits second-hand car trade

The credit crunch appears to be hitting the second-hand car market, according to latest figures.

The amount people intend to spend on used cars over the next few months has fallen compared with last autumn and the early part of this year, statistics from Sainsbury's Finance showed.

Around 4.9 million people plan to buy second-hand cars in the period March-August 2008 and intend to spend a total of £22.76 billion or £4,636 per vehicle on average.

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