GE Money’s Irish Used Car Index confirms that prices for second hand cars are declining

May 14th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
GE Money Ireland says every cloud has its silver lining, especially if you want to get your hands on a used silver shadow. Latest figures from GE Money's Irish Used Car Index confirm that prices for second hand cars are declining. Year on year figures for May show that used values as a percentage of new prices have shrunk across almost all segments with the biggest fall seen at the luxury end of the market where 3 and 5 year old values have on average fallen by €2,000 to €3,000. At the other, and therefore cheaper, end of the market, percentage falls in price are broadly similar to those at the top end and reveal the first decline in year on year values since 2000.

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