Women's Car Insurance
Year old cars fall in value fast
Thu, 06 Apr 2006
The value of a one-year-old car is falling fast, according to new figures.
The Glass's Guide has found that the value of the average vehicle after one year has fallen by 14 per cent or £1,575, over the last five years.
The reason for the fall in price is that there are more of such cars on the market, with a fifth of cars being sold by dealers being one-year-old.
Increased supply of nearly new vehicles has brought down the price, along with falling demand for new cars – which have also fallen in price to make them more attractive to buyers.
Glass's also expects three-year-old cars to decline in value, although initial reports from the industry show that second-hand car prices are increasing.
For those looking to buy a used car the falling prices will no doubt come as welcome news, but not for those selling. Another way to bring down motoring costs is to choose a car insurance policy tailored for your needs, such as women's car insurance.
© Adfero Ltd
