LONG CONSIDERED the preserve of shady profiteers, the Hong Kong used-car market still offers considerably better value than many other countries. In a city where the latest Lexus is the ultimate status symbol, it is not difficult to see why prices for used cars are relatively cheap.
However, while many believe that buying a used car represents a huge leap of faith, there is evidence of a number of excellent deals across the territory.
Taking advantage of open space and low rentals, a number of used-car dealers have sprung up in the Sai Kung area. Expat Motors, run by David Neil, has been in the business for over three years.
Mr Neil's main market is, of course, expatriates, who often prefer a used car as they will only be in the SAR for a short period.
'Demand is high in September, October and November, when people leave and people arrive to replace them. March, April and May is also a good time because people working in the financial sector get their bonuses.'
Mr Neil believes the recent uncertainty surrounding the stock market has affected the used-car market, with demand only recently beginning to pick up.