Car loans news: Bentley GT sees massive residual swings

Dec 23 2008

The sale price of the Bentley GT Coupe is depreciating by as much as £500 per week more than it did 12 months ago, experts have revealed.

According to HPI's used car valuations, Car Loans customers who purchased the vehicle will lose over £67,000 in value, compared to just £41,000 this time last year.

HPI Valuations authority Martin Keighley said that a lack of consumer confidence means that demand for luxury models like the Bentley has fallen, which has led to a drop in prices.

"When the good times roll, the luxury models get snapped up. However, in lean times prestige models flood the market and values begin to plummet," Mr Keighley explained.

He suggested that buyers of luxury cars might now change the way they shop, with car loans customers looking at how well a vehicle holds its value before they splash out.

Former Big Brother contestant Jade Goody has recently had a repossession order issued for her £150,000 Bentley Convertible. ADNFCR-1366-ID-18944590-ADNFCR

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