Here Are 10 Used Cars Selling At Higher Prices
10 Used Cars Selling At Higher Prices
A study reveals that high demand, a lack of stock, and reduced new vehicle availability are driving the prices of the used cars up the marketed rates of their latest versions.
Cap HPI’s recent survey tells almost fifty secondhand vehicles around six months old with 5,000 on the odometer are selling at higher prices than their new like-for-like variants.
Seeing the price chart, we find most vehicles are over £10,000 or 20 per cent costlier, including the exotic sports cars, superminis, and EVs.
Leading the chart is Britain’s most affordable Dacia Sanderos, which demands a £12,398 premium over the new model after six months of usage.
The all-new Sanderos goes for around £10,173, so the used units are fetching 22 per cent extra on average.
According to Cap HPI, some secondhand Porsches went for about £15,000 more than the new units.
Cap HPI’s chief of valuations Derren Martin stated: “It’s unprecedented, crazy, illogical – throw any superlative you like at it.”
“Used cars are supposed to depreciate, but the chip shortage, coronavirus and supply chain hold-ups have reversed that.”
Martin predicted the secondhand car prices to jump around five per cent last month, and with prices still increasing, that marks a record seven months increase in value.
In July, Cap HPI shared that prices have already gone up by around 2.3 per cent in the last five months, with each car on average seeing an increase by one-fifth.
Martin at that time stated the market was ‘on steroids’ because a predicted summer pause basically brought us to a huge rise in demand and value.
Cap HPI charts showed the values have been rising for the past six months across the board. Vehicles that people aren’t much excited about and usually depreciate actually witnessed a boost in demand and price.
For example, a 3-year old Mercedes-Benz V-Class went up by a surprising £10,954 on average in the last half-year or 43.9 per cent.
For September, Martin predicted:
“There’s not going to be loads of stock coming back in September because of the shortage of semiconductors with new cars, and shortage of part-exchanges and fleet returns off the back of that. I think demand will continue to stay strong.”
Top 10 used cars going for more than their new equivalent
1. Dacia Sandero
Average price new: £10,173
Average price used: £12,398
Percentage difference: 21.8%
2. Porsche 718 Spyder
Average price new: £74,850
Average price used: £90,500
Percentage difference: 20.9%
3. Porsche Cayman GT4
Average price new: £76,780
Average price used: £91,900
Percentage difference: 19.6%
4. Porsche Macan
Average price new: £56,083
Average price used: £66,850
Percentage difference: 19.1%
5. Toyota GR Yaris
Average price new: £30,963
Average price used: £35,967
Percentage difference: 16.1%
6. Ford Mustang
Average price new: £45,253
Average price used: £50,167
Percentage difference: 10.8%
7. Tesla Model X
Average price new: £98,358
Average price used: £108,833
Percentage difference: 10.6%
8. Porsche 911 Turbo
Average price new: £149,764
Average price used: £165,275
Percentage difference: 10.3%
9. Ford Mustang Convertible
Average price new: £46,819
Average price used: £51,560
Percentage difference: 10.1%
10. Lotus Elise
Average price new: £46,090
Average price used: £50,420
Percentage difference: 9.3%