City diesels lead buyers' market

City diesels are the best choice for anyone thinking of buying a car in today`s uncertain market, say HPI used car checking experts.

The values of many used cars are falling in the wake of fears over the economy and continuing concern over the Government's road tax plans.

Some three-year-old cars have lost more than a third of their values in the past 12 months, and overall prices are down by nearly a quarter.

But it is not all doom and gloom in the used car market, with demand for low-mileage vehicles, between two and five years old, remaining high.

HPI's Martin Keighley said: "City diesels are the least affected, with valuations dipping on average around 8.6%.

"Worst hit are petrol MPVs, 4x4s and luxury executive models, all registering falls of over 20%. Twelve-month-old vehicles have also seen prices fall by 17.7% overall.

"It is possible that the Government's decision in the Budget to increase vehicle excise duty won't come to fruition, although the credit crunch will certainly continue to have an effect.

"With buyer confidence at an all-time low, the supply and demand chain will continue to be led by practical buying decisions rather than the heart ruling head."

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