My Car Check Data Insight – February 2016 – Electric cars more likely to have outstanding finance

My Car Check Data Insight for February 2016. Top statistics comparing diesel, petrol and electric cars, including top searched makes and models, top warnings, top colours and average values- My Car Check
In the second of a regular series of data insight reports, My Car Check data has shown that electric (including hybrid) cars are significantly more likely to have outstanding finance warnings than diesel or petrol cars.

A higher occurrence of outstanding finance warnings is most likely due to the relatively young age of the most popular electric cars searched, as many will still be under their original finance agreement due to the battery normally being leased separately to the car. However, that doesn’t reduce the risk or importance of checking these vehicles thoroughly.

In addition, due to similar causes and , electric & hybrid cars are significantly higher in value compared to diesel and petrol cars. Diesel cars have a higher value to to them having a stronger residual value compared to their petrol equivalent.

Key takeaways

• Petrol cars are more likely to have a warning than diesel or electric cars – 50% vs 48% & 46% respectively.

• The most frequent warning is a plate transfer, though write-offs and outstanding finance warnings are in significant numbers.

• Petrol & electric vehicles are most likely to be written off (both 33% vs 27% for diesel) and electric cars are most likely to have outstanding finance (25% vs 19% for diesel and 13% for petrol).

• Electric cars have a higher average value than diesel or petrol cars – £10,220 vs £8,921 & £6,590 respectively.

• The same four manufacturers (Ford, Volkswagen, Vauxhall and BMW) dominate both diesel and petrol cars searched, however only Vauxhall appears in the electric section. This is dominated by east-Asian giants Toyota, Lexus and Honda.

• The Toyota Prius dominates the most popular electric cars, taking all top five places. The most popular model overall is the Ford Fiesta Zetec, which is the most popular petrol car. The Volkswagen Golf GT TDI is the most popular diesel car.

• Across all fuel types, 5 door hatchbacks is the most popular body style and the only other body style also appearing in all fuel types is the 4 door saloon.

• Black and grey are the most popular colours searched across fuel types, with blue not far behind.

Click on the images below to see more statistics in full zoom:
My Car Check Data Insight for February 2016. Average value of vehicles searched - My Car Check My Car Check Data Insight for February 2016. Percentage of vehicles with warnings - My Car Check My Car Check Data Insight for February 2016. Top car body styles - My Car Check My Car Check Data Insight for February 2016. Top colours of cars - My Car Check
My Car Check Data Insight for February 2016. Top car manufacturers - My Car Check My Car Check Data Insight for February 2016. Top car models - My Car Check My Car Check Data Insight for February 2016. Top reasons for warnings - My Car Check

To drive safe, you need to buy safe

The key to driving safely is ensuring that your vehicle is safe and legal to drive, before buying it. When physically checking a car, ensure it is in good, safe, legal working condition. In addition, make sure you carry out a comprehensive vehicle check to make sure that the car has not previously been written-off or scrapped. Check any vehicle now at MyCarCheck.com.