Car depreciation and Gap Insurance really do go hand in hand. Of course the roll of Gap Insurance is to protect an element of depreciation
on your vehicle, so it stands to reason that at GapInsurance123 we would take great interest in cars that may represent a higher depreciation rate, and therefore a higher risk.
Automotive consumer giant Whatcar? have compiled a report on the fastest depreciating vehicles in the UK market in 2017
. It makes forsome interesting reading. You may expect that the list is dominated by high value, bigger saloons and MPV's but this is not that case at all. Indeed the appearance of family sized small hatchbacks and even electric cars are perhaps surpisingly featured.
Here, according to Whatcar?
, are the fastest depreciating vehicles in the UK market in 2017.
So what does all that mean in pounds and pence?
Well for example, if we look at the most expensive car in the list, the Peugeot 508, Whatcar? say it will lose £21,840 of its original £29,365 within 3 years.
The worst depreciating model, the Renault Zoe is estimated to lose £24,370 of its original £29,020 within 3 years.
All vehicles will lose value, some clearly quicker than others. This is one of the most compelling reasons to consider Gap Insurance for your vehicle purchase.....in our very humble opinion of course!