7:03 am, October 28, 2021
The trend of used cars growing in value so much that they are costing more than a new version has continued this month – and shows no sign of changing.
Cap HPI has revealed its latest list of used cars that have shot up in value so much that buyers are paying more than a new model for them.
The firm’s head of valuations Derren Martin told Car Dealer – in an exclusive video you can watch above – that this has been driven by the fact the new alternatives for these cars are simply not available – or the waiting lists are too long for buyers to stomach.
Cap HPI has crunched the numbers on 20 used cars – all a year old with 10,000 miles on the clock – which puts a Dacia Sandero on top, with used examples costing £1,900 more than a new model.
That means used Sanderos are changing hands for 119 per cent of the cost of a new version.
Martin said: ‘Normally you’re not going to pay more for a car that’s a year-old with mileage on.
‘When you go into a dealership you’re going to want a new one that’s brand spanking new and got no miles on it.
‘When you can’t get a new one, or you’ve got to wait six months for it, obviously the used one becomes a lot more attractive and the new price becomes almost irrelevant.
‘You can’t get it so that price is almost not even a benchmark for the time being.
‘We are hearing that consumers are starting to baulk at it a little bit and saying “well I’ll wait” but we’ve got that “I want it now” attitude with everything in life now and the used cars have become so popular because of that.
‘It’s not necessarily a relevant benchmark when you can’t get a new one.’
The Top 20 Used Cars costing more than new
All used cars are one year old and have 10,000 miles, list ranked by percentage price rise over new
1. Dacia Sandero – 119%
- Average price new: £9,772
- Average price used: £11,673
- Used premium: £1,901
2. Porsche 718 Spyder – 115%
- Average price new: £74,850
- Average price used: £86,250
- Used premium: £11,400
3. Porsche Macan – 114.4%
- Average price new: £56,082
- Average price used: £64,125
- Used premium: £8,043
4. Porsche Cayman GT4 – 114.0%
- Average price new: £76,780
- Average price used: £87,500
- Used premium: £10,720
5. Tesla Model X – 109%
- Average price new: £93,713
- Average price used: £102,667
- Used premium: £8,954
6. Toyota GT86 – 108.4%
- Average price new: £29,340
- Average price used: £31,768
- Used premium: £2,428
7. Ford Mustang – 108.1%
- Average price new: £43,606
- Average price used: £47,173
- Used premium: £3,567
8. Lamborghini Urus – 107.7%
- Average price new: £182,810
- Average price used: £196,750
- Used premium: £13,940
9. Range Rover Evoque – 107.6%
- Average price new: £41,188
- Average price used: £44,266
- Used premium: £3,078
10. Ford Mustang Convertible – 107.1%
- Average price new: £46,518
- Average price used: £49,850
- Used premium: £3,332
11. Porsche 911 – 106.7%
- Average price new: £93,285
- Average price used: £99,333
- Used premium: £6,048
12. Mercedes CLA – 106.5%
- Average price new: £34,588
- Average price used: £36,847
- Used premium: £2,259
13. Dacia Duster – 106.2%
- Average price new: £15,397
- Average price used: £16,395
- Used premium: £998
14. Land Rover Defender – 106.2%
- Average price new: £53,966
- Average price used: £57,153
- Used premium: £3,187
15. Porsche 911 Turbo – 105.8%
- Average price new: £149,764
- Average price used: £158,375
- Used premium: £8,611
16. Mini Cooper – 105.8%
- Average price new: £21,424
- Average price used: £22,700
- Used premium: £1,276
17. Porsche Taycan – 105.8%
- Average price new: £106,783
- Average price used: £113,000
- Used premium: £6,217
18. Volkswagen California – 105.6%
- Average price new: £65,749
- Average price used: £69,458
- Used premium: £3,709
19. Toyota GR Yaris – 105%
- Average price new: £30,963
- Average price used: £32,500
- Used premium: £1,537
20. Volvo XC40 – 104.7%
- Average price new: £34,230
- Average price used: £35,890
- Used premium: £1,660
