If you're buying a new car, don't lose more money than necessary to depreciation! Here are the top ten motors that lose buyers the least money over three years.
Buying a car can be pretty exciting. After all, who doesn’t like the idea of whizzing around town in a shiny new automobile?
There’s just one problem: If you are buying a brand new car, the price of that car is likely to plummet the minute you drive off the forecourt. As depressing as it sounds, the minute you get into your new car and drive away, the value of your car can drop by thousands of pounds.
New cars only retain around 40% of their original purchase price after three years and around 30,000 miles of ownership, although some are worth a lot less than that.
This means that you’re actually better off buying a used car rather than one that’s brand new. That said, if you really do want to buy a new car, you can limit the impact of depreciation by doing your research and picking carefully.
Car pricing expert, CAP Automotive, has revealed makes and models that lose buyers the least money over three years and 30,000 miles.
These cars aren’t the big, flashy expensive motors you normally hear about retaining most of their value as a percentage, but in terms of losing the least cash overall these ten are top picks.
1. Volkswagen Fox (2006-2012)
Forged in VW’s Brazilian factory the Volkswagen Fox replaced the Lupo in 2006 but was later dethroned by the Volkswagen Up in 2012.
Boxy but more roomy than rival city cars, the average amount lost in depreciation by the Fox models was on average £4,014 over three years.
So a new 1.2-litre three-door model that would have fetched around £7,625 new would be worth nearer £3,611 three years down the line - losing over 52% of its original value but actually costing the least in depreciation according to CAP's research.
2. Hyundai i10 (2008-2011)
The reliable Hyundai i10 was introduced in 2008 as a five-door supermini and represented the Korean brand’s big UK breakthrough.
On average all the models in the range dropped in value by £4,036 over three years.
So a 1.2 Classic five-door - one of the cheapest models - would have cost £7,925 new but after three years would be worth around £3,889 – a 50% drop in value.
3. Nissan Pixo (2009-2013)
Third on the list of cars that cost the least in depreciation is the Nissan Pixo.
The Pixo is also a five-door supermini but is part of a very simple range that all come with a tiny one-litre engine and one body style.
You can get a new five-door one-litre Visia for £7,285 at the moment.
CAP Automotive has calculated that over three years the car depreciates by about £4,309 so by 2016 it would be worth nearer £2,976.
4. Kia Picanto (2007-2011)
The Kia Picanto has been available since 2004 but underwent a bit of a facelift in 2007.
It’s the 2007-2011 range of Picantos that have provided the most affordable depreciation of around £4,331 over three years.
So a three-door one-litre model starting from £8,045 would be worth around £3,714 after a three-year stretch.
5. Perodua Myvi (2006-)
Perodua is Malaysia’s second largest brand of cars after Proton and because Malaysians drive on the left the car is already set up for a UK market.
A Myvi SXi five-door manual motor starts from £7,060 new at the moment but after three years is likely to depreciate by £4,655 according to CAP Automotive’s research.
6. Kia Rio (2005-2010)
The Kia Rio is a step up from the Picanto and offers drivers a spacious supermini on the cheap.
There are newer Kia Rios kicking about but it’s the 2005-2010 batch that are the sixth cheapest for depreciation over three years, falling on average by £4,723.
The Kia Rio 1.4-litre five-door would have cost £8,550 new and over three years is likely to have dropped in value to £3,827.
7. Citroen C1 (2009-2010 diesel)
Introduced in 2005 and updated in 2009 and again in 2012 the Citroen C1 is the baby of the Citreon family that is famed for its strong reliability track record.
The best model for limiting the cost impact of depreciation is the 2009-2010 diesel as on average over three years they dropped in value by £4,810.
8. Suzuki Alto (2009-)
The Suzuki Alto is built in India and is almost identical to the Nissan Pixo.
Over three years all the models since 2009 were on average found to depreciate by £5,031.
New the Alto costs from £7,199 for a five-door one-litre model so by 2016 the car is likely to be worth nearer £2,168.
9. Toyota Aygo (2009-2012)
The Toyota Aygo was built in the same French factory as the Citroen C1 and Peugeot 107 and all share the same chassis. However, the Aygo has its own distinct cute look.
It has been around since 2005 but it’s the 2009-2012 set that make the ninth cheapest depreciation over three years, typically falling in value by £5,045 in this time frame.
10. Perodua Kenari (2000-2010)
It’s the second time Malaysian brand Perodua has featured in the top ten cars that cost the least in depreciation over three years.
This time the boxy supermini Kenari has made its mark.
The amount lost to depreciation over three years out of all the models in the 2000-2010 range amounts to £5,145.
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