A new data service has gone live this month created by the car valuation specialists CAP Automotive. The new system called ?Total Cost of Motoring Service? has been designed to give car owners an indication of what the local cost of ownership of a particular vehicle might be, taking into account the expense of running a particular model and an educated look at its possible future value.
Depreciation is the single most expensive motoring cost owners face when running a car, the different between what a car is worth when you originally buy it and what you receive when you come to sell it or part exchange for another vehicle, so having an indication of a possible future value can be a huge benefit to potential car buyers when looking at a new car.
The future valuations are based on historic vehicle valuation data and take into account the vehicle?s, make, model, engine size, the current market condition and even the colour of the car you are thinking of buying.
This information is then used, along with how long you intend on keeping the car to show how much is could potentially lose in depreciation.
This information has been used by manufacturers for some time but it will be the first time it is going to be made available to the public. The car manufacturer Dacia have for example used the data available from CAP to promote their ?Dacia Sandero Access? as the UK?s least depreciating new car on sale losing just ?3,615 of its original price of ?5995 over ownership of 3 years and 60,000 miles.
Some of the cars to currently look out for that have strong future values are models with a history of reliability ? Audi, Porsche, Volkswagen and BMW are a few German brands that retain their values well.
With vehicles also losing the majority of their value in the first three years, it is also worth considering a second hand vehicle that has been looked after well, in most cases also allowing the buyer to look at a higher specification for their money.
Remember any valuation is only an indication of what your car “might” be worth. The bottom line on any vehicle valuation is that a car is ultimately worth what someone is actually prepared to pay for it. Dealerbid can help you receive immediate offers to buy your car from different car buyers and car buying companies in the UK. It’s quick and easy and you can get started by entering your vehicle registration number into the yellow box on the following page – dealerbid.co.uk