Industry News from Yes Insurance

The value of used cars is currently falling at a faster rate than during the last recession, according to new research.

A study from EurotaxGlass's has found that a typical three-year-old model retains around 38 per cent of its price - two per cent lower than the amount sellers would have received in 1992.

It could be that this loss in value presents a problem for motorists looking to save on their road tax and car insurance bills.

Adrian Rushmore, managing editor at EurotaxGlass's, has revealed that he is not confident that things will get better.

He said: "This time around, recovery will depend on another mix of factors - but it is already clear that an improvement is unlikely to happen any time soon."

This comes as consumer website Which? has put together a guide for people in the UK buying used cars.

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