Latest News

Lines are closed.
Please call back when we are open

Mon/Fri: 8.30am - 6pm

Used car values plunge year-on-year

Tuesday August 24th 2010

Figures have revealed that used car values dropped below last year's prices for the first time in 12 months.

CAP, the provider of used and future residual values data, shows that the biggest fall was seen in small car values which declined 10% between August 2009 and this month.

CAP said that since April this year cars across all sectors have seen their value reduced, going against the upward trend that occurred through most of last year.

However the four-by-four sector saw the biggest rises with average values still 11% up on last year.

Taking the used car market as a whole, values are now on average almost three per cent lower than in August 2009, according to CAP's figures.

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.