savvy shoppers will be pleased to know they have one of the best hot-spots for secondhand cars on their very doorstep.
A new UK survey has placed the Capital in the top three when it comes to the best locations to buy used cars in terms of low mileage, attractive prices and reasonable ages.
Only Stirling ranked higher in research carried out by motoring group AA’s used car website.
AA Cars’ study rated Edinburgh as the second best market in the UK alongside Newcastle-upon-Tyne.
In Edinburgh, used cars have an average mileage of just 21,206 – the lowest of 22 locations surveyed.
The average age of 3.6 years for second-hand motors on the market was also the best result surveyed, representing a far better purchase than those in London or Bristol, which come in at an average seven years.
Only the price tag in Edinburgh, with an average used car costing £12,266, was a concern.
Birmingham boasts the cheapest used cars, with the average on the market priced at just £8,160.
James Fairclough, chief executive of AA Cars, suggested smart car shoppers from further afield could find a bargain if they were willing to travel to Edinburgh.
He said: “While the cost of used cars does tend to broadly tally with the mileage clocked and the age of the vehicle, there are clearly a number of places in the UK where discerning buyers can squeeze as much value out of their next purchase.
“In fact, the car market is increasingly open to buyers who are willing to travel.
“It’s no longer simply a matter of heading down the road to your local dealership to see what’s on offer.
“The transparency offered by online buying portals such as AA Cars means that you can now scan the entire UK used car market to find a vehicle that fits your age, cost, style and body type requirements from the comfort of your living room.
“It is worth noting that travelling further afield for your next car does come with potential drawbacks. Any cost saving you might be making in the purchase has to be weighed up against the fact that, if the car does develop a fault soon after you’ve bought it, you’ll probably have to take it back to the selling dealer for checks or repairs. It’s also interesting to see how this openness has acted as a spur to the top end of the used car market.
“Just under a fifth of used car sales are now for luxury, executive, sports and supercars, which is undoubtedly a result of buyers having a bird’s eye view.”
Aberdeen and Glasgow finished fourth and sixth in the rankings respectively as the only other cities in Scotland surveyed. The average car in Glasgow was cheaper than Edinburgh at £11,937, but had clocked up more miles (25,897) and were older at 4.2 years on average.
In London, half (48.7 per cent) of all secondhand sales were for cars with automatic transmissions, double the UK average.