The distance that British motorists cover each year appears to have fallen in the past decade.
An article for Motor1.com recently revealed that we’re now driving 20 per cent less than we did ten years ago, with the news provider suggesting that there are a number of reasons for the change.
It cited data from Cap HPI, which revealed that the mileage of three-year-old used cars dropped from just under 40,000 in 2008, to 31,000 in 2018. The decline for used cars that were five years old was less marked, however, falling by ten per cent from just under 62,500 in 2008 to just below 56,000 in 2018.
Head of UK valuations at the firm Derren Martin said that a growing number of drivers opting for finance deals, as well as worse congestion in some areas, were two of the main factors believed to be responsible.
“The rise of buyers using personal contract purchase and personal contract hire to finance their car will constrict motorists who seek to balance mileage with affordability,” he stated.
One benefit to used cars coming on the market with fewer miles on their clock is that their value has increased. Cap HPI’s data revealed that the average value of a one-year-old car increased by one per cent last year.
Electric and hybrid cars in particular have seen their values climb sharply, the firm noted.
That said, Honest John recently suggested that this could be a good year to buy a diesel motor, because the cost of used diesel vehicles has fallen considerably, but they’re still more fuel efficient than petrol models.
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