Car insurance policyholders are not been dissuaded from buying used luxury vehicles, large prestige SUVs and supercars, despite the surge in petrol prices.
This is according to Glass’s Guide, which said that the value of a typical family car has risen by two per cent since January, while 4x4s have increased by four per cent in price.
Luxury cars have also been following this upward trend, according to the publication.
“Given the series of fuel price increases, it is perhaps surprising that there has not been any kind of backlash in the premium sectors this time around,” said Glass’s managing editor, Adrian Rushmore.
He said that the prestige 4×4 sector had recorded the best price resilience in the market, even though these vehicles are usually seen by car insurance policyholders as the most fuel inefficient.
TyreSafe recently estimated that £0.7 billion of fuel is being wasted each year as a result of under-inflated tyres.
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