The asking prices on used cars on forecourts across the country have fallen by as much as 15.5 per cent ahead of the introduction of the new VRT system next month, according to the Society of the Irish Motor Industry (Simi).
Its research indicated that the average price of diesel cars has fallen by 11 per cent while petrol cars have fallen by 15.5 per cent.
The decrease is due to reduced road tax on many vehicles and the introduction of the new VRT system for new cars from July 1st.
Simi Director General, Alan Nolan described the results of the survey as "very good news for anyone currently thinking of buying a used car".
He said there was a high level of used cars on forecourts which is normal for this time of year following first quarter new car sales trends.
"The expected clearance of used stock because of the environmentally driven tax changes means that consumers have the widest choice of quality used cars and the best value."