One-year-old vehicles are far cheaper than new vehicles

on Wednesday, 18 January 2017. Posted in Car Buying Advice

One-year-old vehicles are far cheaper than new vehicles

Although VCL can supply new vehicles we mainly source used vehicles, the average new car has a list price of around £28,500. But by the time it's one year old with 10,000 miles on the clock it costs just £21,000 – a reduction of more than 27% in the first 12 months.

 In the second year the depreciation rate is likely to slow by roughly half (so the second year, this average car would lose around £3,750 in value).

So picking a year-old model will dramatically reduce the new vehicle cost. There are exceptions if you’re picking a prestige model. Brands that hold their value best tend to include Audi BMW Mercedes and Porsche, VCL can save clients even more but remember its only the dealer profit that makes a vehicle expensive.

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