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Used car buying - mind the depreciation factor E-mail
Written by Administrator   
Wednesday, 11 July 2007
For first time car buyers choosing the right model is crucial. It doesn't matter which make you buy as much as which model and specification you choose. Buying cheaper cars can cost you more.

A small used car may only cost €10,000 but if it loses 90.5% (nearly €9,000) of its value over 3 years, it makes it worth just over €1,000 at that time. Whereas a more expensive car with lower depreciation costing say ?16,000 and loses a similar amount of money, but is still worth €7,000 after three years and will usually be more reliable and enjoyable.

Too many extras can be bad for you. Buying a standard car with a very high specification tends to create heavier depreciation. You are better off buying a mid-range specification, for example a BMW 5-series or Mercedes C-Class than a top of range Opel Omega for example (worst performing car on depreciation)

Small cars and high image cars (like Lotus Elise or Volkswagen Golfs) always lose the least in terms of depreciation.

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