Depreciation Busters: Our Picks For Used Cars That Hold Their Value
It's no secret that, when updating your vehicle, opting for a used car lessens the scale of depreciation in value. Many of our customers tell us they wouldn't buy a brand new vehicle for this very reason.
While all car owners expect to see their car decrease in value as the model gets older and the mileage increases, if you do a little bit of shopping around, it's always possible to find something that could hold its value a little bit better, or even improve a little in the years to come.
Sometimes a vehicle's style comes back in fashion, or maybe a model that flopped when launched eventually grows in popularity when the market catches up. And, of course, sometimes great cars will just hold their value over the years.
We've rounded up a few of our picks for used cars that we believe could hold their value really well over the next few years. Of course, we should remind you at this point that any vehicle valuation will take into account additional external factors – wear and tear, mileage and the like – and can't be based off make and model alone.
Here are our picks:
This model didn't sell well when it launched, but not because it was a bad car. It was just a bit too pricey at the time – £13,000 was a lot for a car of its size in 2001. You can easily pick these up used for less than £3,500 – sometimes even under £1,000 for the older early-2000s models – these days, which is a bargain: they're roomy, lightweight and, best of all, quite cheap to run. If fuel costs rise too much in the near future then there will probably be a pretty strong market for cars as efficient as the A2, and prices could potentially double.
The Ibiza doesn't feel like it's been around that long, but it's getting on a bit now! Launched in 2007, it's held its value pretty well, thanks in no small part to its green reputation: the Ibiza's credentials as a more eco-friendly car are solid, and are likely to be appreciated more and more as the tide turns towards lower emissions, fuel cells, and the like.
You'd be surprised at how little these go for sometimes – shop around and you might find one from 2007 for as low as £1,500, but people are still willing to pay more even eight years on. Buy and sell at the right time and you could be onto a winner.
Toyota Land Cruiser V8
Okay, a bit on the pricier side, but 4X4s like the V8 usually hold their value outstandingly well. You're currently looking at over £30,000 for a seven-year-old used model, but consider the fact that your typical V8 only loses about a quarter of its value after the first three years, as they were (and still are) well over £50,000 new. There will always be a market for them, and people are prepared to pay up. If you're looking to make an investment that you're not too likely to lose out on, then a Toyota V8 is a pretty safe bet. You're in the same sort of boat (or, same sort of car would be more accurate) with a Land Rover or Range Rover too.
We could have filled this list with Kias – the best thing about them is that they come with this truly brilliant seven-year warranty deal, so if you buy a used one after three years then you've still got four years to go under warranty. It might still be valid when you come to sell it on again. Now that's value! Your typical Rio model will currently set you back around £10,000 to £15,000 new, and they only depreciate in value by about 40% after 36,000 miles – which may seem high, but is actually quite impressive compared to similarly-sized cars. So there's used bargains to be found, and the potential to sell on for a decent amount in the future. The Sportage is a similarly good bet from Kia.
Our last recommendation is for the nifty little Fiat 500. It's got that compact idiosyncratic style which means it's always going to stand out among other cars of its size, and there's plenty of options for more efficient engines in the 500 line that could see a similar boost in popularity to the Audi A2. They tend to hold around half to two-thirds of their value, even after three years or 30,000 miles, so they're a good call if you're looking for something that's going to sell well further down the line. Of course, only time will tell if we're right! And, of course, condition is everything – one of these picks with a few knocks in it or some extra miles on the clock will almost always lose out to something in better shape. Do you think we've missed an obvious model from our list? Get in touch if you've got any tips!