There are many factors to consider when shopping for an automobile. One of the most important is how well it holds its value, as this determines whether or not it is a smart purchase. Cars can depreciate as much as 60% after three years of ownership and then at a slower rate after this. This means that you want to find a car that holds its value so that you do not take a huge financial hit if you sell the car on down the road.
There are a number of excellent used cars which retain their value well, with the following three all being great options.
The Dacia Duster is proving to be a very popular SUV thanks to its affordability. It is very much a “no frills” SUV, which helps it to be the most affordable vehicle in its competitive class. In addition to its low price tag (and running costs), the Duster also depreciates very slowly which makes it a smart investment. The 1.6-litre petrol version retains 55.6% of its (low) price after three years, so it is no surprise that it is proving to be so popular.
Land Rover Discovery
Land Rover is a respected name in the SUV market, with their impressive Discovery model proving to be a class contender thanks to its practicality, comfort and off-road capability. It may be expensive to buy new, but it is an excellent investment second-hand and particularly when you factor in how it holds its value. The 3-litre diesel SE retains a mighty 59% of its purchase price after 3 years, whilst the 3-litre petrol retains a (still impressive) 49%.
The innovative B-Max from Ford is a great little MPV which is very practical thanks to the sliding doors – this makes getting in and out incredibly easy and parents will appreciate this. It is also great to drive, stylish and there are a range of engines available. The B-Max depreciates much slower than other cars in its class, managing to retain up to 47% of its value after three years. It can be found for affordable prices from places like AA Cars.
Depreciation is a major factor to consider in the used car market. Those that do not check and invest in cars which depreciate rapidly and heavily could take a huge financial hit in a few years, but the above cars are smart investments that hold their value well after three years and beyond.