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Used luxury car values crashing

Second hand luxury car prices are plunging, as executives trade down to cheaper models, according to Glass’s Guide.

Executives are increasingly reluctant to spend more than £30,000 non a used car, forcing top end prices down, reported Daily Telegraph.

Glass’s Guide calculates that the average one-year-old luxury family saloon car has dropped by 21% compared with a year ago, on top of the normal slide you would expect from depreciation.

Richard Crosthwaite, Glass’s prestige car editor, said: “The economy has certainly made it mark, accelerating the trend where fleet buyers and consumers are gravitating towards smaller, cleaner and more fuel efficient alternatives.“
 

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