And while most new cars will lose a significant proportion of their starting price, some will lose considerably more than others - and as we explain below this may be even worse for 13-plate models thanks to people's superstitions.
But with a bit of savvy buying, your car may hold far more of its value than you expect, or you may be able to target a three-year-old bargain. To help motorists pick a winner, This is Money and car website Auto Trader have complied the top five cars which held on to the most of their original value last year – and the five that didn’t.
13 plate – unlucky for some?
It could prove to be a strange six-month period for new car buying, as the 13 number plate may prove unpopular with new motor buyers.Early in 2012 the DVLA considered offering triskaidekaphobic new car buyers continued access to the previous 62 plates (for cars registered new between 1 September 2012 and 28 February 2013) but then dropped the idea.
The biggest hang-up over the 13 plate comes with trying to sell on the car – four per cent of the 20,029 survey respondents firmly believe and 25 per cent somewhat believe that this is where the 13-plate hoodoo is most likely to strike.
The concern rises to 33 per cent among AA members aged 65 or more, although only 20 per cent of younger drivers, aged 18-24, see it as a problem.
Top five cars that held their value best in last 12 months
The data from Auto Trader below looked at how much a car would have cost to buy brand new – and how the value has either stayed steady, or dropped in the last 12 months. Cars are ranked in the top five in reverse.
New car price: £34,500
Price after a year: £30,375
Percentage of value kept: 88%
Auto Trader says: When a car is in such high demand, as this version of the Q5 is, it helps to keep the used prices at a good level – it’s the law of supply and demand.
New car price: £47,995
Price after a year: £42,500
Percentage of value kept: 88.5%
Auto Trader says: In a similar vein to the Discovery, people want and will pay for this car. However, this one is more sensitive to the variant. A supercharged V8 petrol version will not hold its value as strongly as a diesel and drivers want the best value for money – these factors influence the used car price of this model.
New car price: £60,600
Price after a year: £56,500
Percentage of value kept: 93%
Auto Trader says: The Land Cruiser has never had to offer huge discounts to shift units as it’s always been popular with buyers. As a result, there isn’t a huge number on the used car market. This, combined with the rugged reputation of the Toyota 4x4, has meant that its residuals remain remarkably good.
2. Land Rover Discovery 4 3.0TD (242bhp) GS auto
New car price: £38,825
Price after a year: £36,745
Percentage of value kept: 94.5%
Auto Trader says: Land Rover is a British success story of the past few years and the Discovery is no different. This is a car that people really want and are prepared to pay for, which means that its used value remains high.
WINNER: Skoda Yeti 2.0TDI CR 4x4 (140bhp) Elegance
New car price: £23,675Price after a year: £23,500
Percentage of value kept: 99%
Auto Trader says: This is a slightly surprising winner. The Yeti has struck a chord with the nation, combining rugged good looks with low running costs and, as such, demand remains high - especially on the used market. Combine this with the fact that not many are available and used prices are going to remain strong.
Interestingly, the data from Auto Trader echoes similar research by Glass’s for This is Money in December.
The Glass’s research has exactly the same top five, but in a slightly different order - the Toyota Land Cruiser tops the list, followed by the Audi Q5, the Skoda Yeti, the Land Rover Discovery and the Range Rover Sport.
These vehicles have been taking the lion’s share of the top five places for the last three years, and this year their presence is even more obvious.
Top five cars that lost the most value in last 12 months:
New car price: £11,195
Price after a year: £8,232
Percentage of value kept: 74.5%
Auto Trader says: British drivers like to be proud about the badge that appears on the front of their car, and turning up in a Proton just won’t cut the mustard. This is the key reason why the Gen-2’s residuals don’t hold up – no-one wants one.
New car price: £21,505
Price after a year: £16,000
Percentage of value kept: 74.5%
Auto Trader says: Big French saloons have never been high on the British buyer’s shopping list. They have a poor reliability record and one such as this, with a wheezy petrol engine, is never going to appeal to private or fleet buyers as much as a BMW 3 Series or Audi A4 with their frugal, smooth and powerful 2.0-litre diesel motors. Citroen doesn’t quite have the snob value of its German rivals either, meaning that people are less likely to pay as much for them on the used market.
New car price: £34,350
Price after a year: £25,385
Percentage of value kept: 74%
Auto Trader says: The Insignia isn’t a bad car by any stretch of the imagination, but when it comes to buying a used vehicle, very few people are going to want a heavy, complicated and uneconomical V6 petrol turbo with four-wheel drive, when they can have a fuel-sipping diesel with two-wheel drive. This car will also cost more to tax, insure and to maintain than a lower-powered variant, so people just don’t want to buy them.
New car price: £22,305
Price after a year: £13,000
Percentage of value kept: 58%
Auto Trader says: Despite the fact that this is an excellent and safe car – with a very clever interior, most people will want a diesel version and that is what hits the resale value of this car hard. The supply may be there, but the demand isn’t.
New car price: £40,885
Price after a year: £10,998
Percentage of value kept: 27%
Auto Trader says: Quite simply, this Volvo just isn’t popular. When it comes to large, executive cars, we want two things; two-wheel drive and diesel power, not all-wheel drive and petrol power. The gas-guzzling engine combined with the heavy and complex four-wheel drive system means that this car just won’t hold on to its value. Also, Volvo doesn’t have the brand cache of its Germanic rivals, such as BMW, Audi and Mercedes.
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