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Motorists about to undertake a Used Car Search may find themselves a bargain as the bleak economic outlook affects the prices of used cars.
Research by Eurotaxglass' s found that as much as £400 could be wiped off the average three-year-old vehicle if the current financial climate does not improve.
As a result, Car Loans and Car Finance could stretch further when carrying out a used car search.
However, widespread availability of quality used cars could halt the decline in prices, the study found.
Adrian Rushmore, managing editor at EurotaxGlass's, said: "The increased cost of borrowing, stagnant house prices and widespread reports of a UK credit squeeze are all affecting consumers' disposable income and confidence. These factors will prevail through much of 2008."
Recent research by Eurotaxglass's found that customer loyalty to car brands was decreasing with the rise in popularity of online car searches.
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