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Car insurance customers warned over vehicle values

28/08/2008

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Car insurance customers on the prowl for a new vehicle have been urged to contemplate how that car's value will fare over the coming years.

Provider of vehicle checks HPI issued the warning and has predicted that the credit crunch will prompt a surge in second-hand car sales.

It added that buyers should note that a number of factors will affect the value of cars currently available in the market.

Martin Keighley, used car valuations expert at the HPI, said: "It is really important that consumers think about a car's potential to depreciate before parting with their cash."

He added that "winners" will be those vehicles which are economical, small and have low carbon emission ratings.

Such vehicles, which may also be cheaper to insure, could include Fiat's 500 or the Toyota Aygo.

HPI has been providing motorists with vehicle checks and helping them buy cars since the birth of the mass vehicle market in 1930s.

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