Depreciation ‘rapid in cars under three years old’

Motorists looking to buy or sell a used car may find that vehicles under three years old are in abundance, it has been claimed.

According to Experian, there was an eight per cent drop in vehicles less than three years old during the third quarter of 2007 compared to the same period of 2006.

The motor firm adds that this may be partly down to the rise in the base rate level of interest experienced by consumers over the course of the year.

Managing director of the company Kirk Fletcher states that vehicle purchases were bound to drop as a result.

"Sales of ‘big ticket’ items, such as cars, were the most likely to suffer, and they did. The third quarter of 2007 saw the biggest drop in sales for the year so far," said the official.

Meanwhile, Ebookers.com has recently launched justgoodcars.com – a search engine for those looking for a used car, Auto Industry reports.

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