Falling value of new cars

Fri, 29 Feb 2008



According to further research by switching company uSwitch, who last week revealed in the car finance news that UK car buyers would lose millions through uncompetitive car finance deals, new cars depreciate incredibly quickly but at very different rates.

uSwitch research indicates that depreciation of new vehicles can be so quick that opting for a nearly-new or second-hand car can prove value for money . The research by the firm reportedly states that drivers lose over £500 per month in the first year due to depreciation.

However, different cars depreciate at different rates, with some models holding their value better. Some cars (uSwitch apparently highlighted the Vauxhall Vectra) depreciate over 50 per cent in their first year!

Seeking competitive car finance and car insurance, whether you are looking to purchase a used car or a new car with an 08 number plate, can make all the difference to repayments, experts say.
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