Industry News from Yes Insurance

Brits considering trading in their current vehicle for a used model so they qualify for cheap car insurance may find now is a good time to buy, if a recent report is anything to go by.

According to EurotaxGlass's, there has been a "dramatic rise" in the number of second-hand models being snapped up by retailers in the UK, which should mean buyers will have plenty of choice.

The company claimed dealers appeared to be reacting to the modest increase in demand for used cars which became evident after the festive season.

Adrian Rushmore, managing editor with EurotaxGlass's, commented: "The level of trade buying is unprecedented for this time of year, exceeding all expectations given the broader economic conditions."

He said the flurry of activity may reflect the decision of retailers to focus their efforts on used cars in a bid to minimise the effects of a decline in interest in new vehicles.

In related news, EurotaxGlass's recently reported values for second-hand models are unlikely to drop as steeply this year as they did in 2008.

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