The second-hand car market is looking for its lively old days. Prices have not increased as demand has decreased. There was a price decrease of over 2% in September. Second-hand vehicle prices declined in September. High interest rates continue to affect the car market. The use of credit is decreasing. The number of people buying cars is decreasing due to the shift towards deposits. With decreased demand, the price changes are also limited.
According to data from a second-hand car advertisement site, there is a continuing real decrease in prices. Last month, when adjusted for inflation, prices fell by 2.44% compared to August. The report noted, “It is predicted that this decrease will continue in the last three months of the year.” The average price of advertisements in September was determined to be 684,094 Turkish Lira. The ratio of advertisements for cars up to 500,000 lira decreased by 3.3%. The share of advertisements for cars over 1 million lira increased by 2.3%. Demand for newer cars continued to be higher than for older cars. An acceleration of zero-car campaigns is expected in the last months of the year. It is believed that the demand will shift more towards new cars. Therefore, a decrease in activity in the second-hand market is expected.