Used car prices have been rising across the UK for more than two years as problems in the new car supply chain have driven buyers to the secondhand market.
Earlier this year asking prices jumped by as much as 30% compared with 2021 and while the change has started to slow in recent months, perhaps as the cost of living crisis sees people cut back on big-ticket items like cars, values are still rising. October saw an 8% increase compared with October 2021 following three months of upward or neutral movement, according to Auto Trader’s Retail Price Index.
While average year-on-year changes have varied between 8% and 32% since January, the latest figures from Auto Trader show that demand for some models has seen values jump by more than 40% compared with last October. At the other end of the market, some less desirable models have fallen in value by up to 15%. Here, then, are the 10 models with the biggest value increases and the 10 that have seen the sharpest price contractions in the last 12 months.
1. Peugeot 107: +38.9% (£3,642 average)
This tiny city car was part of a platform sharing exercise with Toyota and Citroen but it’s the Peugeot that’s seen the most impressive progress on its value recently. It’s not the last word in refinement or space but the neat looks, lively little engine and low running costs make it a great first car for new drivers. | Peugeot
2. Peugeot 207: +35.7%, (£2,757 average)
Obviously enough, the 207 is the 107’s big brother, offering more space, more power and more equipment as it competes with the likes of the Ford Fiesta. Running costs aren’t quite as low as the 107 but the 207 did come with a range of relatively frugal petrol and diesel engines and earned a five-star safety rating when it was launched. | Peugeot
3. Ford Fusion : +35.2% (£3,337 average)
It’s beyond us why there’s a demand for the Fusion but clearly some people are keen to get their hands on it. Essentially a weird looking Fiesta on stilts, the Fusion was supposed to challenge the Honda Jazz and Nissan Note by offering a more upright and spacious alternative to the regular Fiesta. It never caught on in the way the Jazz did but clearly there’s still enough interest to keep prices healthy. | Ford
4. Vauxhall Agila: +30.9% (£3,907 average)
The Agila is one of Vauxhall’s less well known models but clearly there’s enough interest in this compact city car to push up prices. Like the Ford Fusion and Nissan Note, it was an attempt to create a more spacious and practical model on a city car platform. While it’s still relatively small, there are lots of storage spaces and room for four passengers, with lots of headroom and a decent sized boot for the class. | Vauxhall