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Part-ex 4x4's worthless

rss Car Loan News
Published: 08-Jul-2008
Car loan customers looking to get part-exchange on their 4x4 could be lumbered with it, according to Parker's.

The UK's leading price-guide publisher was told by trade insiders that there is no demand for petrol 4x4's on the used car market.

Dealers are steering clear of thirsty off-roaders, especially those with large V8 engines, no matter how cheap the car is.

Kieren Puffett, editor of Parker’s, said: "The large 4x4 market should stabilise eventually, but by the time that happens large 4x4s with petrol engines will be worth substantially less than they had been until fairly recently."

According to insiders, even four wheel drive vehicles bought at rock bottom prices are not guaranteed to sell at auction.

Car finance customers looking to get a new 4x4 might be interested to know that those with petrol engines have depreciated in value far more than those with diesel engines.

And according to Experian the steep rise in petrol prices has been matched by a decline in sales of petrol cars.ADNFCR-1597-ID-18675294-ADNFCR

 

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