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Bargains headed for the scrap heap?

Britain’s best-selling tabloid, the “super soaraway” Sun, has a stark warning for scrappage buyers, including fuel card users, today: anyone buying a new vehicle “could see thousands wiped off the value of their vehicle within months”.


Quoting used car website, the paper notes that new cars lose an average £23 in value every single day for six months after they have rolled off the showroom floor.


On average, a new car loses £23 per day during the first six months of ownership. That adds up to more than £4000, twice the scrappage discount.


Alistair Jeff of told the Sun: “Bearing in mind that the scrappage scheme is a result of the credit crunch and is promoted to consumers as an initiative that’s supposed to help them with their finances, the wisdom of buying a new car is questionable when depreciation is taken into account.”


He added: “The attraction of replacing an old car that’s a bit tatty and lacks the latest technology and trimmings for a brand spanking new vehicle is easy to understand but it’s not the only way of acquiring an immaculate quality vehicle.”


Meaning, of course – buy a quality used car. Clearly new cars are not for everyone. Car enthusiasts and businesses, many of them fuel card users, often prefer shiny new models. But for most of us, the frequently enormous price differences between brand new cars and lightly worn models (£12,000 or more is not uncommon) make the used car showroom the only possible choice.


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