Used car prices in the UK have calmed down but continue to rise, according to the latest figures from marketplace Auto Trader.
The latest data from the online marketplace shows that average second-hand values have now risen for 40 months in a row but the growth has softened significantly.
Over the last two years average used values rocketed by as much as 30% as poor availability of new cars increased demand on the secondhand market. In recent months new car supply has improved and used price increases have softened but the latest figures from Auto Trader show that by mid-July, prices were still up 3.2% on last year.
Although the crazy increases of 2022, when some individual models jumped in value by more than 40%, have disappeared, July's figures show that the average price of some cars is still 20% higher than a year ago. At the same time, some models, including high-end electric cars have fallen in value by a similar amount.
Here, according to Auto Trader’s latest figures are the biggest winners and losers.
9. Kia Picanto, £9,410, (+10.7%)
The Picanto city car is closely related to the Hyundai i10 and, as such, it has the same neat packaging, high specification levels and wallet-friendly running costs. And with Kia’s seven-year warranty, there are plenty that still have manufacturer cover, even second hand. | Kia
10. Volkswagen CC, £8,790 (+10.5%)
A leftfield addition to the list is VW’s relatively rare four-door saloon-cum-coupe. Based on the capable but dull Passat, the CC is the predecessor to the current Arteon, offering VW’s most premium passenger experience in a sleek, low-roofed model still capable of carrying four adults in comfort. | Volkswagen
11. Smart forfour £9,178 (-6.4%)
Smart made its name with the fortwo - an innovative and tiny two-seat city car unlike anything else on sale. The forfour, in contrast, was a pretty average four-door four-seat compact hatchback based on a thoroughly uninspiring Mitsubishi. It’s perhaps not a surprise then that values for this oddity have been falling. | Smart
12. Audi Q8 £53,654 (-7.1%)
Audi’s Q8 is an impressive beast. A massive, high-spec SUV with coupe styling, all the latest gadgets and Audi’s usual rock solid quality, it’s a fitting flagship model and essentially an SUV alternative to the A8 saloon. However, it’s not cheap and it’s not as practical as the slightly less exciting looking Q7, perhaps explaining why interest and prices are slipping. | Audi