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Choosing cars with a reliable badge is half the battle, for example, a used Volkswagen, BMW or Audi car will tend to hold its value much better than other cars within the same class offering the same equipment, simply because buyers can identify with luxury brands and they are more highly sought after.
It is also a good idea to look at the equipment which is being offered in your car of choice. Choosing a middle of the range trim or above is a good idea if you want to retain more value at resale. When you sell the car on, having extras such as Bluetooth, Satellite Navigation and a good DAB radio/CD system with multiple speakers will usually prove more attractive to the average buyer.
You can also benefit from a handy tool offered by car valuation expert CAP which allows you to input your car’s vital statistics, then tells you how much you’ll spend to keep it on the road.
Take a look below at the latest results from CAP on the best and worst cars for depreciation.
Top of the latest CAP list for value retention is the Porsche Cayenne which over three years will retain a high 73.8 per cent of its original value. One of the things which makes the Cayenne so popular with buyers is its ability to handle well, its excellent refinement and its sensational performance. The classy and offers plenty of space, and as a luxury brand, the Cayenne remains highly sought after by those who can afford the price tag.
Range Rover Evoque
Ever since its launch in 2011, the Range Rover Evoque has proved highly popular, and is well sought after in the used car market. Mainly because Land Rover is well known for being a reliable and classy brand offering unrivalled off-road capability on its fleet of 4×4 cars. The Range Rover Evoque five-door 2.2 eD4 is capable of holding onto 68.8 per cent of its value new.
Surprisingly, third on the list, retaining the same amount of value as the Range Rover Evoque at 68.8 per cent is the Audi Q3, with the diesel version proving again that it can retain more value than petrol. One of the reasons for the Q3’s popularity is that it offers a range of smooth engines with strong performance. The cabin is also smart and robust – what you would expect from a SUV of this calibre.
One of the worst cars for value retention is the Renault Espace which only retains a shocking 12.6 per cent of its value new, therefore it makes much better economical sense to purchase a used Renault Espace and save yourself the heart-ache! However, the Espace does have some good points such as its flexible seating arrangement and good safety kit. However, there are plenty of rivals that are more spacious and cheaper to buy so make sure you haggle hard for this particular car if it still appeals.
The Peugeot 407 follows hot on the heels of the Espace when it comes to poor value retention, despite the fact you get plenty of equipment fitted as standard for your money. This makes it an attractive car to purchase used as you can benefit from lots of added features for a rock bottom price. One of the areas where the 407 falls down is again in its inability to offer ample space for a family – something that the average family is constantly seeking.