Fastest Depreciating Cars In 2020
When buying a car, depreciation is often overlooked, so we’ve collated a list of the best and worst cars for retaining their value, allowing you to make an informed decision on your next big investment.
Findings from What Car? and Know Your Money use current trade market values to identify cars that have lost the most from their original price three years on. Their calculations differ slightly in that What Car? base their analysis on cars that have covered 36,000 miles since new, while Know Your Money bases theirs on 30,000 miles.
What car holds its value best?
Number 1 on What Car?’s list is the Porsche Macan Turbo PDK which has retained 59.9% of its value over 3 years. Given that the Macan is our reigning sports SUV champion, you probably won't be surprised to hear that it's fast and fun to drive. But it's also good at the sensible stuff, because it's a quiet and comfortable cruiser with rock-solid residuals. In fact, in Turbo form it holds its value better than any other car on sale today.
Although many of us dream of owning a value-retaining Porsche, we also need to look at some of the lower cost alternatives that won’t create a huge hole in your pocket.
Know Your Money found that the Toyota Prius+ retained an impressive 66.2% of its value after 3 years. The Prius has a hybrid engine and offers extra room compared to the normal Prius hatchback. Although it might not appeal to all car buyers, it will certainly drop less pounds from the day it is unleashed from the forecourt.
Which car depreciates the most?
Number 1 amongst What Car’s fastest-depreciating cars is the Maserati Quattroporte V6D which retained a mere 20.8% value, a price drop of nearly £60,000! That’s a heart sinking amount and earlier awareness might stop you ever leaving the dealership! In our view, the bodywork is a sharp-ish saloon and the diesel engine is coarse, the ride is brittle and the feel is dated for a car with such a high list price.
Next up is the Fiat Tipo 1.6 Multijet Lounge which is part of the family of hatchbacks. Its attraction is that it’s well equipped and has an eye-catching retail price but, due to the displeasing drive and poor resale value, leaves it retaining a minimal 21.1% of its list price.
What car should I buy?
No doubt, you will have much to consider, but we would plump for the electric options as they seem to hold their value best and are more appropriate for today’s world. Of course, electrics and hybrids can be costly up-front, so if depreciation isn’t something that worries you, maybe select a diesel version, even if there’s a possible ban on them from 2030!
Whatever you decide, check-out GAP insurance to protect your investment.