When we think about buying a new car, many of us are already taking into account the resale value. Depreciation is an unfortunate reality that impacts total running costs, so it really makes a difference when choosing your vehicle. You could be looking at two used cars, both worth £15,000. If one is worth £8,000 after three years and the other £5,000, you’re effectively paying an extra £3,000 for that model when you factor in the extra value that is lost.
With that in mind, here are the best resale value car brands so that you can make smarter choices on the forecourt.
According to figures presented by Autocar, Minis hold their value best in the UK, losing just shy of 47% of their value after 34,700 miles. Audis are next in line, losing 47.3% over the same mileage. The next three marques with slower depreciation rates are Volkswagen, Lexus and Ford.
The 10 best resale car brands in the study cited by Autocar are:
There are certain things you can look for when assessing the future market value of a car. Sports and luxury cars naturally retain their value, with the likes of Ferrari and Porsche creating more demand than supply.
In terms of fuel type, diesel cars have traditionally depreciated less than petrol, but petrol/electric hybrid models are now emerging as the better performer. These vehicles, according to CAP data, retain on average 39.9% of their value, with diesel coming in at 38.9% and petrol at 38.3%. Differences can vary widely between makes and models, however, so it’s best to check the particular brand when you come to buy.
Used car valuation also depends on a number of factors that will be specific to each vehicle. These include the condition of the car’s bodywork and interior, how many miles it’s done, and the history of ownership. A petrol car with only one previous owner and 30,000 miles on the clock could, for example, prove cheaper than a diesel model with three owners and 38,000 miles under its belt.
At Carwise Group, we can value your used vehicle and help you determine whether it’s the right time to sell. Our friendly, professional team will inspect your car and advise on any measures that may increase its value.
With a wide selection of used cars for sale at our dealerships in Maidstone, Harlow and Dunstable, we can also help you find your next high-quality model. With flexible finance options available too, you can finance your motor in a way that suits you. Contact us today to arrange a valuation or book a test drive.