Finns Grabbing Cheap Used Cars in Estonia

There has been a sharp increase in the number of Finns buying used cars in Estonia. Estonia’s used car market has been flooded with cars that were formerly leased by companies and private individuals. The cars are now being sold because of the ongoing economic crisis.

About a quarter of the formerly leased cars on the Estonian market are being exported. Finance companies want to get rid of the surplus cars as quickly as possible.

“The number of Finnish buyers is growing from one week to the next, and at least one car is taken to Finland every week,” says used car salesman Silver Havamaa.

Buyers are from Germany, Russia, Belarus, Finland, and Estonia.

Finns tend to buy cars in the EUR 2,000-50,000 price range, while Germans tend to focus on luxury models. The heavy demand has pushed prices up slightly.

“In the summer, cars were cheaper. Prices are also going up as the number of leasing cars decrease, and imports of used cars from other parts of Europe starts up again,” Havamaa says.

Economic Crisis Continues

Estonia’s economic problems are nevertheless continuing, and both companies and private individuals are experiencing payment difficulties. Banks are lending less money, all of which has had a negative effect on sales of new cars.

“In the best of times, this dealership sold three or four times as many cars as it does now. I don’t think we will ever get back to the sales figures of the good times,” says new car salesman Risto Sikk.