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, … [Read more...]
High fleet returns pose problems for businesses
With the volume of lease extensions coming to an end, voluntary terminations and repossessions expected to substantially increase as lockdown eases. Now MJB Automotive is warning fleet and remarketing decision-makers to prepare for the reality that completing vehicle repairs before resale may not be achievable. According to MJB Automotive if the support … [Read more...]
Depreciation gets back seat in buying thoughts
Over a quarter or 28% of UK drivers do not consider depreciation when they are buying a car, despite having a full understanding of it. One in five think that all cars depreciate at the same rate (men 16% and women 23%). Younger drivers under 35s (34%) are also twice as likely to think that all cars depreciate at the same rate as over 55s … [Read more...]
Survey shows evs with worst depreciation
A new study shows striking differences in the depreciation of ten popular electric and hybrid cars from their purchase price three years ago to their current value. InsuretheGap.com found that the pure electric Renault Zoe lost the most value, depreciating by 61% in three years from its purchase price of £19,988 to only £7,830 value in … [Read more...]
Ups and downs of Geneva’s star cars
London-based JBR Capital, specialists in high-end vehicle finance, has named the top 10 cars that have appreciated in value or held their worth after launching at the Geneva Motor Show over the last decade. The Lamborghini Veneno (above), unveiled at the show in 2013, tops the charts as this ultra-limited edition has appreciated in value by 180 … [Read more...]
Write-off changes surprise for some
As we enter the peak period for second hand car sales a survey of 100 consumers by vehicle history checker mycarcheck.com found that 89% were unaware of the recent write-off category changes. In October 2017, the old A, B, C and D categories were replaced with new codes, which focus on safety rather than the cost of repair: A (scrap), B (break), S … [Read more...]
EVs might shock you with depreciation
Electric car sales may have reached an all-time high, with almost 120,000 alternatively fuelled vehicles sold in the UK in 2017, but buyers of electric cars face great variations in the rate at which different models depreciate. Research by InsuretheGap.com shows striking differences in the depreciation of ten of the most popular electric cars from their … [Read more...]
Hydrogen hopes to rewrite valuation projections
Hydrogen cars could rewrite the standard vehicle depreciation curve, members of the Vehicle Remarketing Association heard at their monthly meeting last week. Held at the Swindon offices of fleet management specialist Arval, the meeting took a look at developments in hydrogen technology, availability of cars and likely sales. The town is the centre of the … [Read more...]
The true cost of buying your next car is explained
A new car loses approximately 20 per cent of its value when it’s driven off the showroom forecourt, and cars lose between 15 - 20 per cent of their value each year, so it pays to have an understanding of deprecation when you’re buying a car. However, the numerous makes, models and colours will all hold and lose their value differently, so a bit of … [Read more...]
Newslines 16 May
The anticipated glut of diesel cars to hit the used car market, combined with falling buyer demand makes a significant price drop likely within the next 12 months. Motorway.co.uk believes a fall in the average price of used diesel cars of 10 to 15% versus their current deprecation rate, over the next 12 months, is entirely likely, so with around 17 … [Read more...]
