The price of used cars is rising, but while some vehicles maintain their value, others fall by as much as 63% in such a short period of three years.
When it comes to used cars, make sure you know what you’re dealing with (
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Second hand car prices are rising in value, but while that means some vehicles are barely losing their value, others have dropped an incredible 63% in just three years.
Rising cost of materials and energy, as well as problems with supply chains, are causing the cost of new cars to rise.
This is having an impact on the price of older vehicles as car buyers are increasingly looking for the second hand market.
But new research reveals that some cars retain their value much more than others.
The study, by applying Zutobi’s theoretical driving tests, found that some cars dropped in value by just 5% three years after purchase, but others could fall by 63% at the same time.
Mercedes Range Rover i Volkswagen are the brands that have the most value, each with two different models among the top ten.
Peugeot cars are the least valuable, with three of their models in the top ten.
The company analyzed 150 of the most popular cars to find out which cars represent a second-hand bargain and which ones have barely changed in price.
Second hand cars that have more value
1) Mercedes-Benz Class A hatchback
It’s one of the cheapest Mercs, but you won’t save much by buying second hand (
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Daily Mirror)
This “entry level” Mercedes would still have pushed you back around £ 24,100 three years ago.
However, Zutobi found that this model is now selling for £ 22,887 on the second-hand market, a drop in value of just 5.03%.
2) Range Rover Sport
A beast of a car – with a beast of price.
The Range Rover Sport: great by nature, great by value (
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Financial support)
The Sport model is a bit smaller than a standard Range Rover, but still cost £ 64,760 new three years ago.
Now these cars cost around £ 60,593, a drop of 5.8%.
3) Jeep Wrangler
The Jeep Wrangler also maintains its value over time (
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© 2017 FCA US LLC)
The Jeep Wrangler is a small 4×4 produced by Jeep since the mid-1980s.
The current edition costs just under £ 60,000 and after three years will have an average value of over £ 52,000, with a drop of 8.43%.
4) Mini One
This popular Mini model is a slightly cheaper version of the Mini range, with a slightly smaller engine than the more expensive models.
But the car retains its value: it just drops £ 1,468 from £ 17,415 again to £ 15,947 now.
The Mini One, not so mini or so cheap either (
Image:
Wikimedia Commons)
5) Volkswagen Polo
The Volkswagen Polo hatchback is not only practical and reliable, but it is also quite expensive to buy second hand.
The car cost about £ 18,855 in 2019, but it still costs about £ 17,105 now, a drop of just 9.2%.
But if you’re looking for a bargain, take a look at cars that have less value.
Second-hand cars that retain their value the least
1) Renault Zoe
Anyone who bought this electric car three years ago will have a hard time getting it back, but this is great news for buyers.
The electric superminium cost £ 30,495, but has depreciated more than 63% in three years to £ 11,109 now.
2) Peugeot 3008
The Peugeot 3008 has the second highest payback rate of all the cars studied.
The car cost about £ 22,735 again, but fell in value by 62%, to just £ 8,522.
3) MG ZS
This MG SUV model costs £ 27,745 new, but buy it second hand and you’ll pay around 61.47% less, just £ 10,690.
4) Audi A3 Sportback
This sporty Audi would cost you £ 25,165 on the track three years ago.
But anyone buying a second-hand one should just look at £ 9,696 now, a drop of £ 15,469, or 61.47%.
5) Land Rover Defender
A surprising addition to the list: the popular Defender does not hold its value well.
The car would cost you almost £ 50 when new: £ 45,690.
But the same car sold now would be worth around £ 18,080, a drop of 60.43%.
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