Car depreciate rates worsen, say experts

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Written by Michael Moroney

Thursday, 27 March 2008

The current world and local economic uncertainties, coupled with green taxes, are making car depreciation rates worse, according to motor industry analysts. Analysts EurotaxGlass’s say the value of used cars will fall by an additional 8% this year. Big family cars, which traditionally lose most value, and four-wheel drive vehicles are worst affected.

By comparison, say the experts, fuel efficient cars and smaller vehicles are holding their value better.

The warning from Eurotaxglass’s suggests that the increased cost of borrowing, stagnant house prices and the credit crunch have now spread to the car market. The experts are warning consumers to take account of resale values when purchasing a vehicle in order to avoid any nasty surprises down the line.

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