A survey by
Halifax indicates that the price of buying both new and
used cars fell last year, driving consumers to purchase record
number
of vehicles . The car-buying frenzy came despite heavy traffic
problems and the high cost of both
petrol and diesel.
Halifax found that the cost of used and
new cars has fallen by 26 per cent in the last decade, pushing
the number of
vehicles on UK roads up to its current level of 31 million. The
number of cars per household has also increased, from 1.13 to
1.28.
Halifax issued a warning that car buyers should avoid
4x4 vehicles in order to achieve a good price. The
company reportedly commented: New research shows that 4x4
vehicles registered three years ago have lost on average 34% their
value over the past two years, compared with just 20% for a
supermini car. This reflects both the increasing financial
burden and
adverse consumer perception associated with owning a
4x4.
