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CAP Used Car Price Index Shows Secondhand Values Continuing to Decline


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LONDON--AVERAGE USED CAR values are lower than 12 months previously for the first time this year, according to the Used Car Price Index published by CAP, the used car pricing experts.

The index for August reveals that the fall in values accelerated last month, making the cars from two further sectors typically cheaper than a year ago. In August average values for upper medium and small executive models joined the list of car types that cost less than in August 2009.

But it is smaller cars that have seen the largest year on year reductions in value so that a typical 3 year old City Car or Supermini is now almost 10% cheaper in the trade than the exact equivalent vehicle in August 2009.

Cars across all sectors have seen their values reducing since April this year, gradually wiping out the price rises that occurred during much of 2009. The strongest increases then were in the 4x4 sector and average values there still remain 11% higher than a year ago.

Taking the used car market as a whole, values are now on average almost 3% lower than in August 2009.

* Notes for editors: Market price performance in the CAP Used Car Price Index is benchmarked at 3 years old. Actual car values will vary according to mileage and retail prices will vary according to the purchase source. Because cars are benchmarked at one specific age this chart does not display actual depreciation/appreciation over time.

CAP used car pricing information has been trusted by motor trade professionals for more than 30 years. The company provides trusted and accurate pricing and technical information on cars, vans, motorcycles and trucks to the UK automotive industry every day. As well as helping dealers, fleet operators, insurers and finance providers, CAP information also operates at the heart of many leading vehicle marketing websites and car sales portals, including Britain's largest "AutoTrader" helping consumers safely make the best informed decisions about their purchase choices.