The cost of picking up a vehicle at an auction house is set to go up, according to new research.
Prices will rise due to economic pressures brought about by the credit crunch, the RMI Society of Motor Auctions (SMA) has stated.
Head of the SMA Louise Wallis commented that any low costs can only be viable when turnover is high.
Indeed, car credit customers may find it hard to buy in the current climate, as interest rates are high.
"Energy and business rates have both increased, as has the cost of insurance, labour and consumables. The 50 per cent increase in fuel prices since December last year has also made a significant impact on margins," said Ms Wallis.
This comes as Easier has cited research from esure showing that 64 per cent of drivers are to buy used rather than new when they next purchase a vehicle.
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