British Cars lose value fastest, reveals latest study by Adzuna
British cars lose 51% of their value over 4 years, according to research from Car Search Engine Adzuna.co.uk. The new study also reveals that Leicester is the cheapest city in the UK to buy a used car, while Brighton is the most expensive.
British car brands have lost their value faster than cars from any other country in Europe, losing on average 51% of their worth over four years. French cars, last year’s top place in this category, follow closely behind on 49%. Brands like Jaguar, Vauxhall and Land Rover bring down the British score, all losing over 58% of their value in just 4 years. German and Italian cars hold their value better falling just 40% over the same period. The average new car in the UK has depreciated 49% in real terms over four years.
Volkswagen Polos and SMART cars keep their value the best over time, retaining three quarters of their new price after four years, while new Renault Meganes and Mazda 6’s are expected to lose 60% of their original price tag by 2017. ‘Supercars’
When motors are grouped into Adzuna’s “Car Personality”
Leicester is the cheapest city in the UK to buy a used car in 2013 with the average popular motor £544 cheaper than other UK cities. Brighton is the most expensive, with the average list price of used cars in the city over £13,000. Bargain hunters should head to Wales, where the study shows the same used car in England will be 5% cheaper if you make the trip across the border.
Andrew Hunter, Co-Founder of Adzuna, said “Listing every used car for sale in the UK in our search engine enables us to gain unique insights into the motors
market. New car buyers in the UK should be looking to pick up motors which retain more than 50% of their value over the first 4 years of their life, and used car buyers should be willing to travel for a bargain.”
Notes to the Editor
Adzuna.co.uk is a search engine for classified ads used by over a million visitors per month which makes it easier to find the right car for you. We search thousands of websites so you don't have to and bring together millions of ads so you can find them all in one place. We add powerful search and insightful market data, so you can find your perfect car with a little help from your friends.
Adzuna.co.uk was founded in 2011 by Andrew Hunter and Doug Monro, formerly of eBay, Gumtree, Qype and Zoopla and is backed by leading Venture Capital firms Passion Capital, The Accelerator Group and Index Ventures.
For more information, please contact Flora Lowther - firstname.lastname@example.org