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.
