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Car News

Aug 29 2008

Being able to accurately value used cars is proving "difficult" given current market conditions, it has claimed.

Vehicle information service HPI has suggested the used car market continues to be "volatile" and demand for executive and ex-fleet cars is falling.

The organisation stated that fleet managers are currently over-estimating the value of their vehicles, leading to many remaining unsold at auction.

As more cars are "defleeted" towards the end of the year, values of certain executive cars are expected to fall, those conducting a Used Car Search may be interested to learn.

Martin Keighley, valuations expert at HPI, said: "Accurate vehicle valuation hasn't been so difficult for some 15-20 years.

"However today's market should be looked at as part of a normal cycle rather than an apocalypse."

There are signs that conditions for dealers are improving, he added.

Most of today's manufacturers now use HPI vehicle registration checks in their approved used car programmes.

The organisation has been offering the service since the 1930s.ADNFCR-1366-ID-18755483-ADNFCR

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