Facts About Car Depreciation

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Facts About Car Depreciation

Everyone is aware of the phrase “new cars lose half their value when driven out of the showroom”, which is not entirely true! Below are 8 top tips to advise you on retaining your car’s value.

  • Facts about depreciation:

    1. Cars values are lower in March and September when new registrations are added.

    2. Cars typically depreciate between 15%and 35% in the first year and anything up to 50% by the third year.

    3. Leather increases your car’s value by up to 15%

    4. Sat Nav increases your car’s value by approximately 10%

    5. Full Service History increases your car’s value by up to 25% - relevant for older cars whereby age is less important than the maintenance of the car

    6. Repair any damage immediately

    7. Cars depreciate at approximately the same rate this year as they have done over the last few years

    8. Avoid modifications such as exhausts, air filters, bodykits and aftermarket alloys as they devalue the car

    If you are thinking of selling your vehicle soon – remember the car will devalue each month. To discuss a part exchange valuation please contact us on 0333 222 0424 or alternatively send us a part exchange valuation request and we'll email you with a competivive quote.

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4 years ago
Representative Finance Example
APR Representative 8.9%
Cash Price £8,995
Deposit £176.10
1st Monthly Payment £326.10
58 Monthly Payment £176.10
Final Monthly Payment £326.10
Amount of Credit £8818.90
Total Amount Payable £11042.10
Total Charge for Credit £2047.10
Fixed Interest per Annum 3.96%
Duration 60 Months