Wednesday 30th January 2008
Be Wiser Insurance

Vehicles can depreciate in value rapidly within three years of purchase, according to a used car expert.

Experian comments that over the third quarter of 2007 sales of automobiles less than three years old fell by eight per cent against figures from the corresponding period of 2006.

This could have an effect on car insurance costs, as fewer relatively new vehicles could mean that people find cheaper deals to cover their older vehicles.

Experian's automotive division managing director Kirk Fletcher states that the rapid rise of the base rate over 2006 affected used car sales.

He said: "Sales of 'big ticket' items, such as cars, were the most likely to suffer, and they did. The third quarter of 2007 saw the biggest drop in sales for the year so far."

This comes as Auto Industry reports that justgoodcars.com has been launched by Ebookers.com.

The search engine allows motorists to find a used vehicle which suits their needs exactly.

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