South West London has ranked third in new research revealing the areas in the UK where people have the most expensive used cars.

Despite the congestion charges, insurance premiums and parking nightmares that come with owning a car in the capital city, Londoners living in the SW postcode have cars worth an average value of £32,782.

Researchers at used car search platform, MOTORS, were able to unearth the findings by calculating the average price of used car listings across different locations in the UK.

Sneaking in at number one for having the most expensive taste in cars is Harrogate, the picturesque spa town in North Yorkshire, where the average value of a used car listing is a whopping £43,713.

Only £3,239 behind in second place is St Albans, Hertfordshire’s cathedral city. Praised for its historic market and rural surroundings, the average price of a used car here is £40,474.

The study analysed the price of more than 50,000 used car listings on the MOTORS website over the last 12 months to calculate which areas of the UK people have the most and least expensive used cars. Researchers pulled together the key trends into their 2024 used car buying report which also revealed the car models that have increased and decreased in value the most over the same time period.

The 10 UK locations where people have the most expensive used cars

Rank

Location

Average price of used car listings

1

Harrogate

£43,713

2

St Albans

£40,474

3

South West London

£32,782

4

York

£28,761

5

Chelmsford

£27,081

6

Cambridge

£25,553

7

Dartford

£25,029

8

Bromley

£24,605

9

Huddersfield

£22,836

10

Guildford

£22,239

Moving back north to Yorkshire, residents in the historic city of York came fourth in the study overall. The average value of a used car listing in York was found to be £28,761.

Chelmsford, the first Essex city, also made the top five, with cars being listed for an average price of £27,081.

Moving towards the capital city, Central London ranked in the top 12 with £22,173 being the average value of a used car.

Commenting on the study, Steven Edwards, motoring editor at MOTORS, said:

“Our 2024 used car buying report is full of key insights and trends that we hope will help to equip drivers with all of the right tools for navigating the used car market – which at times, can feel quite daunting.

“It’s been fascinating to unearth the regional trends when it comes to revealing where in the UK people have the most, and least, expensive used cars. Although our research found the average value of listings in South West London is over £30,000, it is likely car owners will have forked out much more than this when they first bought the car – especially if it was brand new.

“On top of pinpointing the locations where Brits have the most expensive taste in cars, we have also shared our findings on which car models have increased and depreciated in value the most, alongside expert tips for getting the most out of your car when you look to sell it.”

Whether you’re looking to fund your next car upgrade or simply wanting to get the most value for money when putting your car on the market, Steven has shared four of his top tips for selling a motor below:

Prepare your car for the sale
One of the easiest and most important jobs to tick off is preparing your car for sale. This means that your car is presentable and in good condition before listing it for sale.

This includes cleaning both the interior and exterior thoroughly, addressing any minor repairs or maintenance issues, and gathering all relevant documentation such as the title, service records and the owner’s manual.

Set a fair price for your vehicle
Make time to research the market value of your car by checking similar listings online or using valuation tools. Once you’ve carried out some initial research, set a price that reflects the condition, mileage and features of your car while remaining competitive.

Be prepared to negotiate with any potential sellers but also have a bottom line in mind to ensure that you don’t sell for less than what’s reasonable.

Advertise your car effectively
Utilise multiple platforms to advertise your car for sale, such as online classified websites and social media marketplaces. When advertising your car online, you should include clear and detailed photos from different angles, along with a comprehensive description highlighting its key features, history and any recent upgrades or maintenance work.

Where possible, try to respond promptly to inquiries and be available for potential buyers to view and test drive the car.

Complete the sale properly
Once you’ve found a buyer, arrange a safe and convenient location for the transaction, such as a public car park. Be prepared to negotiate the final price if necessary and ensure all paperwork is properly completed, including the final cost of sale and transfer of title. Also be sure to verify payment methods and be cautious of potential scams, especially when dealing with cash transactions.

Finally, remove your personal belongings from the car and provide the buyer with all necessary keys and documents to complete the sale.