What are the best and worst cars for price depreciation?
The second you turn the ignition on your car, it starts losing value. From the moment it pulls of the forecourt you're emitting cash into the o-zone ayer.
But some cars keep their value much better than others, so here we outline the best and worst cars when it comes to price depreciation - and it's good news for electric car fanatics...if they exist.
Fiat's Doblo XL Combi SX 1.6 Multijet 120 was named biggest depreciator, retaining just 26.1 per cent of its value over three years. Its price new at £26,183 fell to just £6,825 - a drop of £19,358.
But Range Rover's Evoque R-Dynamic P250 had the lowest depreciation rate, retaining 70.1 per cent of its original £38,675 value at £27,100 after three years or 30,000 miles - a drop of £11,575.
Toyota's hybrid Prius and RAV4 family cars both retained nearly two-thirds more of their value - a performance on par with sporty Porsches.
The study, conducted by WhatCar?, found that electrified cars retain a decent 47% of their value after three years and 30,000 miles.
This is a 4% better return than petrol cars get, but you have to factor in the fact that electric cars are also eligible for a £3,500 taxpayer-funded government grant.
The WhatCar? report concluded: 'New electric, hybrid and plug-in hybrid cars are now the country's least depreciating models, outperforming petrols and diesels.
'Our study of more than 7,000 cars reveals electric and hybrid models retain most value over three years and 30,000 miles, with diesels depreciating the fastest.
'Premium brands hold on to most of their value, with new Range Rover Evoque losing the lowest percentage over three years and 30,000 miles.
'But more affordable Toyota Prius and RAV4 are two of the UK's least depreciating models.
'The findings are timely, because 2019 is set to be the year of the electric vehicle, with up to 20 new models due to be launched.
'Electric and hybrid vehicles have some of the strongest residuals across many segments, with models like the new Audi E-tron, Porsche Cayenne E-Hybrid and Toyota RAV4 all retaining more than 63 per cent of their purchase value after three years and 30,000 miles in specific trim configurations.'
The worst cars in terms of price depreciation:
|Doblo XL Combi||SX||1.6 Multijet 120||£26,183||£6,825||£19,358||26.10%|
|Fiat||Tipo||Easy Plus||1.6 Multijet DDCT||£20,510||£5,650||£14,860||27.50%|
|Vauxhall||Astra Sports Tourer||SRi||1.6 CDTi 136 Auto||£26,735||£7,475||£19,260||28.00%|
|Peugeot||308 SW||Active||1.5 Blue HDi 100||£21,895||£6,150||£15,745||28.10%|
The best cars in terms of keeping their value:
|Land Rover||Range Rover Evoque||R-Dynamic||P250||£38,675||£27,100||£11,575||70.10%|
|Porsche||Panamera Sport Turismo||4 E-Hybrid||£85,945||£55,800||£30,145||64.90%|
When did you last switch your car insurance provider?
Last year 65% of customers didn't switch their car insurance to try and get a better deal.