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 2024.
The Top 10 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.
Land Rover Defender
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.
Porsche Macan
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.
Volkswagen I.D Buzz
Credit: https://www.volkswagen-newsroom.com/en/id-buzz-7743
Retention Value: 70.11%
The Volkswagen I.D Buzz is a modern electric vehicle that pays homage to the classic VW bus. Combining a unique design with the latest in automotive technology, the I.D Buzz offers a spacious interior suited for families and long journeys. It’s a versatile vehicle that appeals to a wide range of drivers, from those who appreciate its retro-inspired looks to those focused on eco-friendly driving.
The Volkswagen I.D Buzz has a starting price of £58,915. Over three years, the average retention value is £41,305.
Range Rover Evoque
.jpg)
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.
Porsche Cayenne
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.
Land Rover Discovery Sport
Credit: https://media.landrover.com/vehicle/discovery-sport?page=2
Retention Value: 69.2%
The Land Rover Discovery Sport is known for its blend of practicality and off-road capability. It offers a spacious interior and a comfortable ride, making it a versatile option for families and adventurers alike. Its strong brand heritage and reputation for durability contribute to its solid market value retention.
The Land Rover Discovery Sport has a starting price of £43,445. Over three years, the average retention value is £30,063.94.
MG4 EV
Credit: https://www.mg.co.uk/media-centre/all-new-mg4-ev-confirmed-september-debut-new-msp-platform
Retention Value: 66.49%
The MG4 EV is an electric vehicle that has gained attention for offering good range and advanced technology at an accessible price. It’s a practical choice for those looking to switch to electric driving without breaking the bank. The MG4 EV's appeal lies in its affordability combined with the benefits of electric driving, making it a strong contender in its segment.
The MG4 EV has a starting price of £36,440. Over three years, the average retention value is £24,229.
Audi A3
Credit: https://press.audi.co.uk/en-gb
Retention Value: 65.3%
The Audi A3 is a popular choice in the compact executive car market, offering a mix of premium features and efficient performance. It’s well-regarded for its high-quality interior, smooth ride, and strong brand reputation. The A3 is a reliable option for those seeking a smaller, yet luxurious vehicle.
The Audi A3 has a starting price of £30,080. Over three years, the average retention value is £19,101.
Toyota bZ4X
Credit: https://pressroom.toyota.com/vehicle/2024-toyota-bz4x/
Retention Value: 63%
The Toyota bZ4X represents Toyota’s entry into the electric SUV market. It combines the brand's reputation for reliability with modern design and technology, making it an attractive option for buyers looking to transition to an electric vehicle. The bZ4X offers practicality and efficiency, which have long been associated with Toyota vehicles.
The Toyota bZ4X has a starting price of £42,079. Over three years, the average retention value is £26,510.
BMW 3 Series
Credit: https://www.press.bmwgroup.com/global/photo/compilation/T0442333EN/the-new-bmw-3-series-sedan-the-new-bmw-3-series-touring
Retention Value: 60%
The BMW 3 Series is a well-established executive car known for its driving dynamics and build quality. Its balance of performance, luxury, and practicality, makes it a popular choice for personal and business use. The interior is refined, and the driving experience is engaging which contributes to its continued appeal in the market.
The BMW 3 Series has a starting price of £39,045. Over three years, the average retention value is £23,427.
Interested in selling your car? enter your reg and mileage below and start your free, no-obligation quote today. For more tips and advice, check out our blog or follow us on Instagram or Facebook.
