Whenever you buy a car, it’s inevitable that its value will decrease. In fact, within the first 3 years of car ownership, the value can drop by as much as 60%. Some models do better than others, and the arrival of more electric cars is altering the market as well. With the new plate coming in next month, here's advice for readers hoping to understand how to retain the value of their vehicle for … [Read more...]
Renault Zoe biggest loser, Volvo V90 winner
Depreciation is any new car owner’s worst nightmare, with cars being notorious for dropping in value as soon as the leave the forecourt of the dealership. However, not all cars are made equal when it comes to depreciation, with some faring better than others over the course of a few years, or indeed their lifespan. There are also several factors that can influence depreciation including mileage, … [Read more...]
The cars colour of money
New data reveals that yellow cars hold their value, at almost double the rate of the UK’s top car colour of 2024, black. ATS Euromaster revealed a shocking 70% of car buyers care more about the colour of their new vehicle than the mileage. While the physical appearance of a car may seem the most appealing when purchasing, it is more important to look at the general condition of the car, … [Read more...]
Driving up depreciation mile by mile
A new study by on-line marketplace Carwow has found how mileage severely impacts the value of used cars. The study reveals car valuations can drop by a staggering 27% once they tip over the 60,000-mile mark. As a result, owners looking to sell are now being advised to do so before their vehicle hits this 60k mileage milestone, typically when a new car's warranty expires and the first MoT is … [Read more...]
EVs price fall expected as fleets change
Second hand electric cars and vans are expected to dramatically fall in price as businesses contracts roll-over. According to independent transport research group New Automotive, companies now run around 475,000 electric cars, and 200,000 plug-in hybrids, most of which will be held for 2-4 years before being resold into the second-hand market for 50% of the original value. Thanks to … [Read more...]
EV batteries’ life expectency misunderstood
More than half of consumers “hugely overestimate” the time it takes for used electric car batteries to lose range, according to April’s Startline Used Car Tracker. Asked to estimate typical range loss after five years, 56% said they expected the fall to be 30% or more. In fact, research shows the real world result is likely to be less than half this figure. The average degradation for … [Read more...]
Falling value of new cars put off younger buyers
The depreciation value of 2022's most popular cars has been revealed According to a new report by Go.Compare Car Insurance, a high depreciation value would stop 70% of drivers from buying a particular make or model of car. Most young drivers have future finances in mind, with 73% of those aged 18 to 24 being put off a car if it depreciates quickly. Even loyal lovers of the latest … [Read more...]
EVs depreciate less than petrol or diesel cars
A leasing company has analysed a popular online car marketplace and compared the prices of the UK’s most popular used cars against the number of miles the car had done to uncover the average depreciation cost per mile our cars drive. The average price an petrol or diesel car depreciates is 67ppm or by £4,669.90 a year compared with an evs cost of 55ppm and £3,833.50 annually, meaning evs save 18% … [Read more...]
Tradelines 6 October
Amidst the fuel delivery crisis the average price of a litre of both petrol and diesel rose in September to make a tank around £12 more expensive than a year ago, according to new RAC Fuel Watch data. Unrelated to the current troubles at the pumps, unleaded went up 1.5p to 136.83p while diesel rose by 2.5p to 139.25p, making petrol 22p a litre more expensive than a year ago (114.61p 30 … [Read more...]
Depreciation despair for drivers
With new 21-numberplate cars now on sale, GoCompare Car Insurance is urging drivers looking for a new car to think about depreciation and the possible impact on their insurance. Depreciation is one of the biggest costs of running a car. The price of a new car falls dramatically as soon as it is driven off the forecourt. Depending on the make and model, this can be between 15% to 35% in the … [Read more...]