Performance, fuel economy and how it looks usually top the priority list for people buying a new car. A less obvious, but just as important factor, is how fast your new vehicle will devalue once you’ve paid for it.
Not many people know that as soon as you drive your car out of the showroom, it almost instantly starts to lose market value, and will continue to with every year that passes. The majority of car makes and models lose the most value in the first few years, and, unfortunately this will not only effect the sell on value, but will have an impact on the amount of money your insurer will pay our following an accident, or your car being written off or stolen.
There are two types of depreciation, ‘perceived’ and ‘actual’, and InsuretheGap have put together a handy infographic which explains the main causes for them and what you can do to prevent against it having a knock-on effect on your vehicles value.