The online vehicle recycling service Scrap Car Comparison has shared a list of the top 10 cars with the worst depreciation rates.
Whilst the cost of taxing, insuring and fuelling a car is still on the rise, the value of many nearly-new cars is decreasing, meaning buyers are able to save thousands with a used car.
According to the company, the model with the highest depreciation rate is currently the Renault Zoe, with values falling at an average of 67 percent in four years.
Launched in 2012, the French supermini was one of the first truly popular electric cars, with production only ending 12 years later, in March 2024.
Whilst new examples can still be bought from around £27,000, some dealerships are selling ex-demonstrators for around £20,000 and 2023 models from £14,000.
Another vehicle that Scrap Car Comparison claimed loses value quickly is the Peugeot 2008, which typically sheds 66 percent of its retail price after four years.
Currently in its third generation, Peugeot’s smallest crossover is available with a wide variety of powertrains, including a 1.2 petrol, a 1.6 diesel and the fully-electric e-2008.
It is not the only Peugeot to feature in the list of high-depreciation cars, with the larger 3008, 508 and 5008 also having much lower prices on the used market.
However, drivers looking to get a bargain were advised that some of the most popular high-end brands also have high depreciation rates.
In particular, the Audi A3 hatchback was found to lose value quickly, with prices dropping by an average of 65 percent in four years, whilst the executive BMW 7 Series was found to lose 60 percent of its value in the same time period.
Generally, luxury models have a higher depreciation rate than cheaper alternatives since there is less demand and more technology to go wrong.
