Find out what our customers have to say about our service.Read more
Loud colours land owners in the red
Thursday January 28th 2010
Car buyers have been warned to think carefully about their choice of colour for their new motor after an online used car retailer revealed that garish shades can shave hundreds of pounds off its re-sale value.
Although motorists can protect themselves against car depreciation by taking out car value protector cover, many new car buyers who take out basic car insurance can be left with a disappointing insurance payout if a car is written off or stolen, as the claim will be calculated on the value of the vehicle at the time of the incident, not its original value.
Used car retailer Carsite.co.uk said basic choices, such as the colour of the paintwork, when buying a new car can make a big difference not only to insurance payouts but to the overall re-sale value of a car.
"On a small to medium car, the wrong shade can make it £200-£500 less appealing to retailers and buyers," said Carsite.
The most costly depreciation factors for new cars include short MOTs (£200-300); incomplete service books and history (£300-400) and even a messy interior, which can shave up to £400 off the re-sale value of a once-cherished motor.
Alistair Jeff of Carsite.co.uk, said: "A well maintained car is the best way to get a good resell valuation and fill your buyer with confidence."
Copyright © Press Association 2010
If your car gets written off, helpucover will pay the difference between your car insurers valuation at the time of the accident or theft, and the car's value when you purchased Gap Car Insurance.