That is according to fresh data from Auto Trader, which has found that the average price of a used car in the sixth month of the year was £16,780.
That figure represents a year-on-year-dip of just 0.1%, with experts pointing to the ‘underlying health of the used car market’ as a key factor.
The period of stability, which now stretches back to April, will come as a relief to car dealers, following 19 months of contraction.
Looking at the data on a month-on-month basis, prices were down by just 0.6% on May – a figure broadly in line with seasonal norms.
In more good news for used car dealers, Auto Trader also found a rise in consumer confidence in June, with nine out of 10 people telling the firm they were at least as confident, if not more so, in their ability to afford their next car.
As a result, the group enjoyed 83m cross platform visits throughout the month – an increase on 3.2% on this time last year and an overall record for June.
The stronger demand was also reflected in days to sell figures, which showed that the average car took just 29 days to leave forecourts in June – one day faster than last year and two days faster than in May.
Dealers will also be buoyed by the news that transactions were also up, with Auto Trader reporting year-on-year growth of 3.2%.
Breaking the data down by sector reveals a slight disparity in sales performance among retailers
Whilst the average independent retailer saw a very robust 6.1% increase last month, sales among franchise retailers were flat, rising by just 0.1%, which Auto Trader puts down to differing stock profiles, and variances in supply and demand.
Looking at specific models, the Suzuki Jimny enjoyed the biggest year-on-year price rise, with values shooting up by 20.1% in the last 12 months.
The result placed the Japanese SUV well clear of the likes of the Hyundai i30 and Lexus IS, which finished in second and third place respectively.
At the other end of the scale, the Tesla Model X saw its value plummet, with the average price of the model falling by 19% year-on-year.
The brand’s model Y also struggled, as EVs dominated the list of biggest fallers.