2nd-Hand, 4-Wheel Revival

Who can afford a new car without a bank loan? And as bank loans are as prolific as green dogs… not many new cars are being sold at the moment, so it should come as no surprise that 2nd-hand-car sales are far outstripping their fresh-off-the-assembly-line competitors: 2.3 old cars sold for each new one.

Yes, a couple of years ago the ratio was only 1.4 to 1.

Now, bear in mind that not only are 2nd-hand cars in Spain grossly over priced by British and other European standards, but also that the Spanish Government sneaks in IVA on the purchase too, despite IVA having been paid the first time that the car was sold.

But it’s not really a case of more 2nd-hand cars being sold, but of fewer new ones being sold that has created this not surprising ratio, because sales figures for new cars have have gone back to levels belonging to the beginning of the 90’s.

Finally, there are semi-new cars and there are ‘bangers,’ as the Brits call aging cars, with the second group (over ten-years old) occupying 47% of 2nd-hand sales, which is 5% up on last year.

Well, I’m one of those that has to take his car in to have an ITV inspection each year – say no more!

(News: Spain)

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