Valuable assets - the cars to beat depreciation
Car buyers are used to driving their new purchase off the forecourt and it instantly plummeting in value. It's a fact of motoring life.
Or is it? What if we told you there are some cars out there that are actually rising in value? And we're not just talking about automotive exotica either!
We spoke to experts from trade price bible CAP as well as leading auction house BCA to uncover some cars that are turning residual values on their heads.
'There are some classic and sports cars that will keep going up in value,' one expert told us. 'While others will simply hold firm. But it's all dependent on how much you use them and their condition.' So here are our seven depreciation busting top picks.
This one surprised us too! CAP has found that the Hard Top 4.0 Sahara two-door model with an automatic gearbox has risen £475 in the last 12 months to a trade price of £5,450. CAP says even at this price it's considered to be a cheap, heavy-duty vehicle – but only for those that can afford to run it.
BCA says despite the volumes currently being sold, the Mini is a future classic in waiting. The auction house told us that One models are selling well for around £3,500 to £4,000 even with as many as 100,000 miles on the clock. But prices for well looked after Countryman, Convertible and Clubman models are the firmest.
London-based dealer Clive Sutton specialises in selling the most exclusive supercars. He often sees cars rise in value, but if he was spending his money it'd be the Ford GT he'd shell out on. 'The Ferrari Enzo was the one to go for a while, but prices have cooled,' he told us. 'Now the Ford GT is the car to invest in.'
It's the V8-engined sports car from Audi that's popular with buyers, reports CAP. Our experts said it got off to a slow start in the used market, but in the last 12 months a 2007 model with 20,000 miles has risen £1,900 in the trade to £53,100. 'It is increasing in popularity,' said CAP's man in the know.
Citroen C3 Pluriel
Dogged by leaking roof problems when launched, the C3 Pluriel has since carved itself a place as a collector's car. The supermini, which can become a pick-up or convertible, has seen prices pick up at BCA. 'It's got a combination of useability and quirkiness that seems set to grant it collectable status,' said a BCA spokesman. Prices at auction start at £2,000.
Aston Martin DB7
This is a good sign that the recession is easing! Prices for the Volante (convertible) version of the stunning Aston Martin DB7 have risen £1,300 in the trade during the last year, according to CAP. An 04-reg, 50,000 miler currently costs £31,400. 'Today's buyers appear less concerned about running costs than they were 12 months ago,' said CAP.
BCA believes now is the time to buy a Beetle. The auction house says prices for saloons are between £3-4,000 while cabriolets command a premium, starting from £7,000. 'The retro look is popular and they're becoming sought after with collectors – now is a good time to buy,' said a spokesman.
Have you spotted a car that's recently risen in value? We'd love to hear about it – let us know by posting your comments below.