Irish Examiner view: Used car prices increase by 40% since June 2020

Growing demand for used cars has increased their value and prices have risen according to DoneDeal's latest Used Car Price Index

Author of the DoneDeal report, Tom Gillespie from NUIG, found that 40% of us plan to buy a car this year and 60% say they will spend at least €15,000 on one. Picture: Larry Cummins

One of the consequences of home working is that cars sit in driveways for extended periods, bringing the old cost-benefit question into sharp focus.

However, and counterintuitively, growing demand for used cars has increased their value and prices have rised by 40% in the year since June 2020 according to DoneDeal's latest Used Car Price Index.