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.
5. Renault Scenic: +30.4% (£7,259 average)
The Scenic is people carrier aimed at families who put practicality and function at the top of their shopping list. It’s smaller than the models like the Seat Alhambra of Ford Galaxy but still packs plenty of smart features to make family life easier. Like most MPVs, the Scenic is no longer on sale, perhaps explaining its rising second-hand value. | Renault
6. Toyota Prius: +29.8% (£14,881 average)
People joke about the Prius being a minicabber’s dream car but the number of old examples for sale with 250,000+ miles on the clock show just how tough and dependable Toyota’s innovative hybrid is. With fuel costs still horribly high, it’s perhaps no surprise that plenty of buyers are seeking out these efficient and reliable motors. | Toyota
7. Toyota Avensis: +29.6% (£7,981 average)
The Avensis might be one of the dullest cars on the planet but there’s no denying its attraction on the secondhand market. If what you need is something spacious, well equipped, cheap to run and utterly reliable then this big family saloon/estate ticks all the boxes thanks to Toyota’s unbeatable record for dependability and some torquey but frugal diesel engines. | Toyota
8. Fiat Panda: +29.4% (£7,167 average)
Another city car soaring in value seems to prove the growing attraction of small, relatively affordable vehicles as many families look to keep their costs down. Fiat has a fine tradition of building low-cost but fun small cars and the Panda keeps that reputation up with its quirky styling and a range of lively but economical petrol engines. | Fiat