It’s a known fact that cars lose their value. Between 9-11% of a new car's value is lost as soon as you drive it out of the dealership & tends to keep declining, but some more than others.
But what causes a car to lose its value? There are a few factors that cause the value of a car to decline. General wear and tear & the number of miles on the clock are two big factors. The older the car is, the less it's usually worth. These factors are also taken into consideration when selling your car.
If you are looking to buy a car now & sell it in 5 years time, chances are you will not get back what you originally spent, but how much less depends on the car. We’ve picked out a few of our favourite low depreciation cars to make the inevitable loss a bit easier to stomach and save you a few pounds! These are the top 5 cars that best hold their value in 2022.
The Top 5 Cars That Hold Their Value
The retention value figures below are based on the value lost over three years, or 36,000. The average lifespan of a car is around 12 years or 200,000 miles. However, electric cars can last up to 300,000 miles.
Image credit: https://media.landrover.com/en-gb/vehicle/defender?page=1
Retention Value: 74.97%
The iconic Land Rover Defender is one of the most recognised SUVs on the road today, and for good reason too. The Defender starts at £51,365, and have held their value well down the line, with brand new examples fetching over list price.
The Land Rover Defender comes in a range of specs and trims, including 3 and 5 door examples. Many owners use the vehicle to tow trailers or go off-road, as the suspension on the Defender is engineered to be excellent both off and on road.
Image credit: https://newsroom.porsche.com/en/products/macan.html
Retention Value: 70.49%
The Porsche Macan is a small SUV that offers a combination of luxury, performance, and versatility. It's a stylish and powerful SUV with excellent handling and advanced technology features, making it a great choice for those who want a high-end driving experience.
This practical Porsche has a starting new price of around £60,000. Over three years, the average retained value is £42,362.
Image credit: https://media.landrover.com/en-gb/images?page=1
Retention Value: 69.93%
The Range Rover Evoque is a stylish and compact luxury SUV that offers impressive off-road capabilities and a comfortable ride. It features advanced technology, a well-crafted interior, and a strong reputation for reliability and durability.
The Range Rover Evoque retains 69.93% of its value over a three-year period. The new starting price of the Evoque is just over £47,000, losing just over £14K in three years.
Image credit: https://newsroom.porsche.com/en/products/cayenne.html
Retention Value: 69.57%
Another Porsche that holds its value well is the Porsche Cayenne. The Cayenne is a high-performance luxury SUV that combines sports car-like handling with a spacious and practical interior. It's a versatile vehicle that offers exceptional driving dynamics, advanced technology, and a wide range of customization options.
Over a three-year period, Porsche Cayenne retains 69.57%, losing around £27,000 of its value. The cost of a new Porsche Cayenne is around £86,700.
Retention Value: 69.35%
The Porsche Taycan is a high-performance electric car that offers impressive acceleration, handling, and range. It features advanced technology, luxurious amenities, and a sleek and sporty design, making it a great choice for those who want an eco-friendly but thrilling driving experience.
The Porsche Taycan joins the Cayenne and the Macan as being one of the best cars that hold its value over a three-year period. The price of a new Taycan is around £100,680, losing around £30,000