Motorists are being warned not just to focus on fuel efficiency when choosing their next car, as retaining its value is just as important.
According to thegreencarwebsite.co.uk, CAP Automotive says that motorists are too concerned about how much it will cost to fill their vehicle up at the pump and don't consider whether it will depreciate in value.
On average, Brits lose £12,559 in cash value on a medium-sized family car that was purchased only three years ago. If the same car was driven 12,000 miles a year for three years, it will only have used £4,000 worth of fuel. Therefore, forgetting about a car's value can cost motorists three times as much, reports yahoo.com.
Philip Nothard, CAP's retail and consumer expert, says the assumption that every driver is an expert on cars thanks to the internet is clearly wrong.
"The problem is that motorists either think there is nothing they can do about depreciation, or they simply don't understand that fuel costs should be the least of their worries when you compare what they'll spend at the pumps with how much they'll lose by choosing one car when another holds its value so much better," he explains.
Recent research showed that motorists still worry about the costs of fuel the most, but Mr Nothard says this is unwise.