We are constantly hearing about inflated prices and higher living costs but for most of us, life is less expensive than it was for our parents. The average salary in the UK is approximately £27,500 per year, the variation between the highest and lowest paid jobs ranges between a paltry £7,500 for bar staff up to £133,000 for brokers.
Now new car prices have been rising by less than inflation and the average price is currently hovering at just over £33,000. This means that for most people, excepting a few bar workers, they are more affordable than ever before. But why settle for an average new car when you can get a luxurious used SUV instead?
While running costs on a used vehicle are inevitably going to be higher, the depreciation should be far less severe, so overall costs should be similar. This means that you could be driving a car only a broker could afford new on a middle managers salary.