It’s no overestimation to say that used car prices have been all over the place for the past couple of years.
Caused by a limited number of new cars being produced as a result of parts shortages, it caused the values of used cars to skyrocket. Though prices have plateaued more recently, they still remain considerably higher than before the pandemic.
Older used cars are the ones that have increased the most, as buyers increasingly look at more affordable used cars to help stretch their budget.
But there has been a big fluctuation between the cars that have increased in value the most and those that have had the steepest contraction in value.
All prices listed below are based on average asking prices from Auto Trader, from the marketplace’s latest data from October 2023. Let’s explore those that have increased and decreased the most.
INCREASED
1. Volkswagen Beetle
Though Volkswagen might have ended production of its funky Beetle in 2018, it’s clear there’s still plenty of demand for this chic icon, which is seeing prices rise year-on-year.
With an average asking price of £8,010 for a Volkswagen Beetle on Auto Trader in October, it brings a sharp 12.2 per cent increase on the previous year. Available as a cool hatchback or convertible, the Beetle still has lots going for it, even more than five years after it was discontinued.
2. Peugeot Partner Tepee
You might wonder why a car like the Peugeot Partner Tepee has actually increased in value, but there are two good reasons to explain the demand for this mid-size MPV.The first is the fact that more people are looking for affordable lifestyle vehicles offering lots of space and flexibility – you could even use this Peugeot as a mini camper van. Secondly, with a limited number of new MPVs available, more buyers are looking for the used market for practical choices like this Partner Tepee. With a high £9,752 asking price, this is 10.3 per cent higher than the previous year.
3. Dacia Sandero Stepway
With many car buyers looking to save money, demand has increased for value-based firms like Dacia. In the case of its Sandero Stepway – a slightly raised version of its supermini – it’s seen prices increase by 8.9 per cent to an average asking price of £9,810.
There’s strong demand for the standard Sandero, too, with this model rising in price by 8.1 per cent in the past 12 months to £8,398.
4. Mercedes M-Class
The Mercedes M-Class is another older model that has increased quite considerably in value in the past year. Though this large SUV was discontinued in 2015 – and replaced by the GLE – it still commanded an average asking price of £12,002 in October, according to Auto Trader.
That represented an 8.7 per cent increase compared to the previous year. Though the M-Class might be getting on a bit, it still offers a lot of strengths for those looking for a large, premium family car.
5. Volvo V70
You’ll likely have seen that Volvo is stopping selling estate cars in the UK, which was the firm’s bread-and-butter for many years. However, since this news, it looks like there has been more demand from buyers for such models in the used market.
In fact, Volvo’s V70 – a large estate car, which was discontinued in 2016 – has increased in price by 8.4 per cent in the past year, likely as more look to buy a Volvo estate while they still can.
DECREASED
1. BMW i3
There have been sharp falls in the values of used electric cars for some time, and though this trend is slowing as confidence increases in used EVs, all five of the used cars that have contracted in price the most are electric.
That includes the BMW i3, which fell the most in value, with an average price of £17,357 being 24.8 per cent lower than this time last year. The sharp drop can partly be explained by BMW discontinuing the i3 around a year ago, with fewer nearly-new models now listed for sale.
2. Renault Zoe
Renault’s Zoe was one of the first mass-market electric cars to arrive on sale more than a decade ago, and though it’s been updated several times and remains a credible buy, used values for this electric supermini have plummeted.
With an average asking price of £14,225 on Auto Trader in October, that’s a dramatic 24.6 per cent lower than the same period in 2022.
3. Nissan Leaf
Nissan’s Leaf is similar to the Zoe in the fact it has plenty of merits but is starting to feel a bit behind the times and overlooked by many buyers. This practical electric hatchback had an average asking price of £16,034 in October – a 23.6 per cent drop on the same period a year earlier.
Though the Leaf might not have as much technology or style as some newer rivals, a range of up to 239 miles and its low price make it a stand-out used buy.
4. Porsche Taycan
Premium EVs aren’t immune from large price contractions, either, as Porsche’s Taycan dropped in price by 22.7 per cent over the past year, though still has a high average asking price of £87,015.
Long waiting times meant the Taycan was one of the few EVs that kept its value, but with Porsche shortening waiting times, it’s meant this electric car, as desirable as it may be, has seen significant price drops recently.
5. Vauxhall Mokka-e
Vauxhall continues to plough on with its electric car strategy, now having one of the largest ranges of EVs of any manufacturer. Despite this, used prices for its EVs are still down considerably, with the Mokka-e crossover dropping by 22.6 per cent year-on-year to an average asking price in October of £22,791 on Auto Trader.
It can make the electric Mokka-e a desirable used buy, though, with its stylish design inside and out making it one of the more appealing options in its class.