Recession drives 32% increase in price of 10-year-old cars

Used car prices increased by as much as a third over the last four years, it has emerged.

A survey of used car prices by Motorcheck.ie found the greatest increase — 32% (€681) — was for cars that were 10 years old.

The value of a three-year-old car at the end of last year had increased by up to 18% since 2010 — an increase of €2,134.