The cost of a used car in Ireland has increased to an all time high.
According to the latest DoneDeal Car Price Index, the cost of a second hand car has risen by 56 percent since January 2020.
The Index also points out that, in some cases, a second-hand version of the same model is being listed for more than its new counterpart.
The report gives examples of a 2009 Volkswagen Polo, sold two years ago for €2,890 which is now worth €3,980, and a 2013 Audi A3, sold for €10,250 in Jan 2020, which is now worth €12,400.
Author of the report, NUI Galway economist Dr. Tom Gillespie, says the pandemic and Brexit are having a significant impact on second-hand car prices here..