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Used car buyers told to consider depreciation

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People buying approved used cars have been urged to consider the depreciation value of the vehicle when selecting their purchase.

Anyone interested in getting a return on their used cars a few years down the line should pay particular attention to how well the car is expected to hold its residual value, according to HPI.

The vehicle information firm says that depreciation is the single biggest cost involved with car ownership, and the different brands with different reputations have varying depreciation values.

Nicola Johnson, consumer services manager for HPI, says that buyers often forget this issue when buying a car and end up with a nasty surprise.

"All too often, when we first see our dream car, we just want to jump in it and drive away, making it all too easy to forget about the day when we will want to sell it, in a few years' time," she said.

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