Used car buyers should consider vehicle depreciation
Posted by Fiona Birkwood
Those looking to buy a new car should make sure that they consider the depreciation of a vehicle before making a purchase, Hire Purchase Investigations (HPI) has advised.
The firm states that doing so could save the buyer thousands of pounds when they come to sell on a vehicle.
"Depreciation can be a hidden cost and buyers who forget to take it into account could be in for a nasty surprise when they come to sell and find its value has plummeted," said Nicola Johnson, consumer services manager at HPI.
She said that buyers should do their research and find out the history of a vehicle, as well as how much the tax will be and its CO2 emission levels.
Last year, used car e-retailer Carsite.co.uk revealed that new cars depreciate in value by around £38 a day in the first six months after they have been purchased. 
Depreciation is always an issue when buying any car and some brands retain their value better and have higher resale value than others. At least used cars don’t depreciate as much as brand new cars.