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.
13. BMW 8 Series Gran Coupe -12% (£52,030 average)
The four-door version of the 8 Series sits alongside the regular two-door coupe in the BMW range. Its extra doors, space and proper rear seats make it a more usable long-range cruiser and it has the same powerful engine line-up as the coupe but there’s obviously not enough to keep prices heading upwards. | BMW
14. Land Rover Discovery 4: -12.2% (£19,073 average)
Brand-new Land Rovers are among the models commanding the biggest price premiums at the moment but it seems early versions of the current Discovery aren’t faring so well. Divisive styling hasn’t helped the Disco 4 but under the skin it’s a massively practical and adaptable seven-seater with the sort of off-road capability rivals can only dream of and a reliability record that will give you nightmares. | land Rover
15. Jeep Cherokee: -12.5% (£11,787 average)
Not to be confused with the range-topping Grand Cherokee, the regular Cherokee is a smaller 4x4 that competes with the likes of the Land Rover Discovery Sport, BMW X3 and Mazda CX-5. It doesn’t have the premium finish of those competitors and engine choice is limited but does demonstrate Jeep’s long-running expertise in the off-road arena, handy as we head into winter. | Jeep
16. Vauxhall Grandland X: -12.5% (£15,814 average)
The Grandland X is the largest of Vauxhall’s SUV range, sitting above the Mokka X and Crossland X. It’s based on the same platform as the Peugeot 3008 but lacks the flair of its French cousin and up against segment heavyweights like the Nissan Qashqai it has failed to make much of an impression, reflecting in its slipping used values. | Vauxhall