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.
17. BMW 8 Series - 5.1% decrease (£54,934 average)
AutoTrader’s figure here covers both the 1990s version of the 8 Series and the current generation. Both are big, powerful grand touring coupes with lots of presence, spec and power. Modern versions also come with a bit of an image problem which might explain its relatively poor used performance or perhaps footballers are reigning in their spending like the rest of us. | BMW
18. Land Rover Discovery 3: -13.8% (£7,370 average)
Like the Discovery 4, the previous generation Disco is a massive and massively capable car. There are loads of user-friendly features, plenty of space for seven and a high-end look and feel to the interior. Sadly, like the Discovery 4, the 3 has a bit of a reputation for expensive problems, perhaps harming its appeal as a used buy. | Land Rover
19. Jaguar XK: -15.4% (£21,682 average)
During a financial crisis, it’s perhaps no surprise that demand for powerful two-door sports cars is waning. The XK has Ian Callum’s stunning design, Jaguar’s famous sports car handling and a 5.0-litre V8 with a thirst like Oliver Reed, which might be putting people off. | Jaguar