A MOTORING group has revealed seven commonly used cars that have gone up in value in the past two years.
AA Cars compared the average price of some common motors in the UK and found some five-year-old models have likely made owners money.
GettyAA cars has revealed seven commonly used cars that have gone up in value in the past two years[/caption]
A 2018 Toyota Aygo in 2021 cost an average of £8,331, but the same motor this year is selling for £9,635
They studied the average price of models first registered in 2018, and the values were analysed over three months from July to September in 2021.
The collected data was then compared to the price of a 2018 model, which is now five years old with more mileage on the clock, in the same months this year.
AA Cars found seven common cars had appreciated over the past two years since the cost of motors across the country went up dramatically during the years.
Their study was further supported by AutoTrader’s Retail Price Index, which tracks the price of more than 900,00 cars advertised on the used car platform.
It found that the average price of a second-hand car in September 2021 was £16,067.
However, by the same time in 2023, the average mark grew to £17,736 – which is a 10.4 per cent increase.
It has been understood the motors that are making their owners the most money are all small vehicles that are fuel efficient, have low insurance premiums, and are cheap to tax.
These cars generally offer affordable running costs – and are likely targets as first-time cars for young drivers.
List of the cars that rose in value over the past two years
These are the cars that can make owners more money today than two years ago
Toyota Aygo – up by 15.7%
Vauxhall Corsa – up by 11.9%
VW Polo – up by 8.1%
Fiat 500 – up by 7.3%
Toyota Yaris – up by 4.8%
Ford Fiesta – up by 4%
Ford Focus – up by 0.7%
According to the motoring group, The Toyota Aygo saw the biggest rise among others – and a 2018 model today is worth 15.7 per cent more than what it was valued two years ago.
The Japanese city car jumped from an average price of £8,331 to £9,636 over that period
The second place in the list is taken by Vauxhall Corsa – with a net increase of £1037 or 11.9 per cent.
It would have cost £8,754 to buy a 2018 made second-hand model in 2021, but now it is up to £9,791.
Other cars that made owners significantly more money include Volkswagen‘s Polo which saw a rise of 8.1 per cent, Fiat 500 with a rise of 7.3 per cent, and Toyota Yaris with an increase of 4.8 per cent in resell value.
In fact Britain’s most-bought and owned car – the Ford Fiesta – also saw an increment of up to 4 per cent.
Mark Oakley, Director of AA Cars, said: ‘With the exception of some classic vehicles, we rarely see cars increase in value as they age.
“Yet persistent supply shortages mean some of the most in-demand models are still appreciating even as they sit on the driveway.
“Used cars less than three years old have often been bought on finance, and many have had just one owner — meaning they are often in good condition, and could be a great choice for drivers seeking value for money.”
The director also advised people who are in the market for a used car to shop around and work out what price that model typically sells for at different mileages and ages.
GettyThe second place in the list is taken by Vauxhall Corsa with a net increase of £1037 or 11.9 per cent[/caption]
GettyOther cars that made owners significantly more money include Volkswagen’s Polo which saw a rise of 8.1 per cent[/caption]
GettyThe second-hand value of a Fiat 500rose to 7.3 per cent in 2023[/caption]
Auto ExpressBritain’s most-bought and most-owned car Ford Fiesta also saw an increment of up to 4 per cent[/caption]