7:37 am, October 12, 2022
The top 10 used cars that are commanding the highest car dealer mark-ups have been revealed.
Used car pricing experts Cap HPI have exclusively revealed the used car models car dealers are charging the biggest premiums over new list prices for.
Topping the list was the Porsche 911 GT3 (992 model) that’s currently going for some £75,680 more than they cost new.
The 2021 GT3 costs from £127,820 new, but the exclusive model is hard to come by and means used models are exchanging hands in the trade for some £203,500.
Some car dealers are asking upwards of £225,000 for them.
Second in the list is the Lamborghini Urus, described by some luxury car dealers as ‘depreciation proof’.
The Italian model, in 2020 spec, is currently going for £33,354 more than they cost new.
The Urus costs from £192,646 new, but used models are exchanging hands for upwards of £226,000.
The prices Cap HPI quotes are average prices and don’t take into account special specifications that car dealers could be charging even more for.
Third on the list was the Rolls-Royce SUV Cullinan model. A 2018 model cost £276,800 new, but the four-year-old cars are still commanding £306,500.
Auto Trader has several 2022 models advertised at £430,000.
Derren Martin, director of valuations for Cap HPI, said: ‘The cars listed are all highly desirable and with such long lead times for new cars, the price of a used one is sky-high.
‘The original cost new is almost irrelevant if you can’t get a new one.’
Luxury supercar dealer Tom Hartley told Car Dealer he wasn’t surprised that the Lamborghini Urus was on the list.
He said: ‘That car has been a phenomenon. If you bought one in 2018 and drove it for five years and put 30,000 miles on it you would get your money back for it today.
‘That’s free motoring. The guys who used to buy these luxury cars used to expect to lose £20,000 a year on them, minimum, but now with depreciation the way it is it’s a whole different story.
‘I’m not surprised the GT3 is number one either. That’s rightfully there.
‘It’s a car that has limited supply and huge demand so that’s where the premiums come from.’
Ferrari does not supply Cap HPI with its data so it could not provide comparisons for models from the Italian firm.
Auto Trader, however, said that according to its data, Ferrari Roma models are currently selling for an average of 115 per cent of their cost new.
It found Romas cost on average £197,806 for used models, compared with £172k new.
Used Cars With Biggest Dealer Mark-ups
Cap HPI data of average retail car prices advertised by used car dealers. Some models may be even higher due to specification.
1. Porsche 911 GT3 (992) – £75,680 premium
- New price: £127,820
- Used price: £203,500
2. Lamborghini Urus – £33,354 premium
- New price: £192,646
- Used price: £226,000
3. Rolls-Royce Cullinan – £29,700 premium
- New price: £276,800
- Used price: £306,500
4. Lamborghini Huracan Spyder – £28,680 premium
- New price: £181,320
- Used price: £210,000
5. Bentley Flying Spur – £26,300 premium
- New price: £160,200
- Used price: £186,500
6. Mercedes G Wagon – £25,985 premium
- New price: £113,765
- Used price: £139,750
7. Porsche 911 Turbo (992) – £25,040 premium
- New price: £148,960
- Used price: £174,000
8. McLaren 765LT – £20,750 premium
- New price: £280,000
- Used price: £300,750
9. Porsche 718 Spyder – £20,060 premium
- New price: £76,940
- Used price: £97,000
10. Lamborghini Huracan – £19,620 premium
- New price: £164,880
- Used price: £184,500
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