It is well documented that at the tail end of 2008 the market panicked to such an extent that used car values were mostly obliterated. Customers and car dealers, instead of sitting tight, reacted like lemmings by off loading their diminishing assets, haemorrhaging money, taking huge losses on cars and committing financial suicide. The downturn in the economy, spiralling fuel prices, bad press on environmentally unfriendly four wheel drive and gas guzzling sports cars and media talk of punitive road taxation, proved to be a combustible mix and the perfect formula for what turned out to be carmageddon. Of course, we now know that not only have used car values recovered, they have positively surged forward and the pendulum has swung back to the extent that many used cars are now worth many £000s more than they were 6 months ago!
The Winners were clearly those who bought during this crazy time who could now more than likely sell those cars for the same if not more than they paid for them and this is a situation virtually unheard of in the mainstream motor trade. Who would have thought that we would be living through times where houses start depreciating as cars are appreciating?
Following are a few examples of cars which have been and continue to be part of this turnaround and as you will see cars across the entire spectrum of used cars have been affected.
Please note these are trade not retail prices.
|Make||Model||Jan 09 Price||June 09 Price||Increase|
|Audi||A4 Avant 2.0 TDi SE||£14,000||£16,500||£2,500|
|Chrysler||PT Cruiser CRD Limited||£5,000||£6,500||£1,500|
|Renault||Megane 1.6 VVT Dynamique||£5,000||£7,000||£2,000|
|Toyota||Avensis D4D T3-S||£9,500||£9,750||£250|
|Land Rover||3.2 TD HSE Auto||£23,000||£27,000||£4,000|