Studies have shown Britons are fixated with the cost of fuel and filling up their tanks, however, vehicle valuation specialists CAP Automotive say by buying a car that holds its value better, over time you will save more.
CAP’s figures show that a typical medium family car bought three years ago has lost £12,599 in value.
But when driven 12,000 miles a year, those same cars have burned only £4,000 of fuel on average – so it is said that the typical motorist will see depreciation costs that are three times as much as they spend on fuel.
Philip Nothard, CAP’s Retail and Consumer expert, said its research shows that consumers “have a lot to learn” about how to make real savings.
“The problem is that motorists either think there is nothing they can do about depreciation or they simply don’t understand that fuel costs should be the least of their worries when you compare what they’ll spend at the pumps with how much they’ll lose by choosing one car when another holds its value so much better,” he added.
When buying a new car; checking the reliability should be the number one priority; the Reliability Index (www.reliabilityindex.com) can show motorists which cars are likely to be more reliable than others, using data that has been acquired by Warranty Direct (www.warrantydirect.co.uk).