Used Cars
Used car prices are set to see a further 8% reduction in 2008 over and above normal depreciation levels. Good and bad news for the consumer as buying wisely will be key this year. 4X4 vehicles will see the highest level of depreciation, as CO2 emission taxation will also affect larger more polluting vehicles.
Used car dealers report sourcing the right stock as becoming harder, this is backed by figures from leading auction houses showing good used car values are being achieved in the first quarter of 2008.
Consolidation in the used car market will continue along with.
Used car loans however are seeing an increase as personal loan lending becomes more difficult under the credit crunch were as asset lending remains stable. Historically 42% of car buyers use a car loan or Hire Purchase facility when acquiring used cars
Applying for your used car loan through Creditplus means you will receive the best deal specifically subject to your circumstances
Creditplus has a UK network of over 500 dealers stocking over 65000 used cars and a unique system whereby regardless to your location you can choose any used car or used car loan from the comfort of your armchair, as each vehicle can be delivered to you. Backed by a customer promise that allows you 7 days to make sure you are happy with your new vehicle.
Used car prices can be viewed at our values and reviews section, and applying for your used car loan online means you will receive an immediate used car loan decision.
If you require any further independent advice on car loan options and what is the best type of car loan for you simply call us on 08717 502495.
Many used car buyers 'can't tell age of a car'
New research by British Car Auctions (BCA) has discovered that many people cannot tell the age of a car for sale.
A survey carried out by the organisation in association with honestjohn.
Used car values expected to fall
The government's proposals for changing the way vehicle excise duty (VED) is calculated could see used car values fall, according to one expert.
Sue Robinson, director of the RMI National Franchised Dealers Association, said the changes, which are due to come into effect next year, will have a detrimental effect on the value of second-hand cars.
UK's most-used cars revealed
The Ford Mondeo has been revealed as the most-used car in the UK, according to the latest research, suggesting the vehicle could be a good choice for a car finance purchase.
On average, a Ford Mondeo was found to travel some 15,483 miles each year, according to statistics compiled by Warranty Direct based on 50,000 cars from the last ten years, something that may interest car loans customers.
Motorists warned over 'cloned' used cars
People shopping around for used cars for sale have been urged to be aware of vehicles potentially being 'cloned'.
According to vehicle information service HPI, vehicle cloning is a process by which the number plates and identification numbers of one car are switched for those of a similar vehicle.
Car finance customers 'still shopping for used cars'
Almost five million people will be looking to buy a used car in the six months to the end of August, with car finance customers still keen on new wheels despite economic uncertainty.
A recently-published survey shows car loan customers will spend an average of £4,636 each when buying second hand during the period.
'Better information' for car loan customers buying a used car
Motorists on the lookout for a used car can take heart in an improvement to an industry-standard guidebook.
Anyone considering a new car loan and browsing forecourts could be interested in the addition to the Black Book guide produced by CAP.
