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Used car price fluctuations and underlying depreciation is a major consideration for dealers when it comes to buying and selling used cars, coupled with the availability and popularity of certain makes and models of cars, which all counts towards its final residual value (RV).
This year’s winner is the Toyota Landcruiser which has enjoyed success thanks to its limited supply. The Landcruiser is a durable and reliable 4×4 car which helps to make it an attractive buy for those who seek a sturdy car with off-road capabilities. A runner up to the top ten list was the Volkswagen Tiguan, another popular 4×4 workhorse which took place eleven this year for the same reasons as above.
Second place has been given to the Ford Kuga which is another popular off-road car in the new market and has therefore become a popular model in the used car market too. In fact, both sixth and seventh place are also occupied by off-road cars, proving that the demand for these types of models has increased in recent years. Short bouts of severe weather in the past two years will have contributed to this notable shift, as well as the fact that these types of cars are currently entering the peak selling months of the year.
The BMW Mini is notably absent from this year’s list, having gained second place last year and fifth place in 2009. This year the 1.6 Cooper S has dropped to twenty-second place. This could be down to the fact that motorists are seeking cheaper supermini cars and city cars as the recession continues to affect people’s budgets.
This year also sees the Fiat 500 and VW Golf enjoy success. The Fiat 500 is similar to the BMW Mini in that it sports a quirky personality which proves very appealing to drivers. In comparison, the VW Golf is nothing like the Fiat 500 but has benefited from the fact that people are down-sizing their cars in favour of cheaper and more effective fuel efficient cars, and the Golf fits this bill exactly sporting a good image and low fuel emissions.
Another trend to note is that seven of the top ten cars are powered by diesel engines. This is due to the fact that diesel cars offer better fuel consumption and will retain their value far better when you come to sell them on.
Once again, this year’s results represent a diverse spread of cars which all offer a good image coupled with fuel efficiency. To access a list of the top ten 3 year old cars (58 plate) of 2011, visit www.glassguide.co.uk.