Used cars lose a fifth of their value, reports CarGurus
The most popular used cars have seen values fall by about 20% since January, according to new data from CarGurus.
It found that the average price of a used Kia Ceed has fallen 26.6% (£3,386) since the start of the year, with the Range Rover Velar down 24.3% (£7,201), and the Volvo V90 down 24.1% (£6,556).
Meanwhile, the Land Rover Discovery has seen average prices fall by £7,586, the Range Rover Velar has seen prices down by £7,201 and average sales prices of the Range Rover Evoque have decreased by £4,067.
In terms of estates, the Volvo V90 has seen a price fall of £6,556 (24.1%) since January, the Skoda Superb has reduced by £4,452 (23.9%) and the Volvo V60 has fallen by £4,701 (23%).
Chris Knapman, CarGurus UK editorial director, said: “Depreciation can be a used car buyer’s best friend, helping their budget go further. From premium SUVs to spacious estates, buyers could find an opportunity to get more car for their money, with some highly desirable models now offering particularly compelling value.”
