SEVEN of the most popular cars that have increased in value over the last two years have been revealed.
AA Cars compared the average price of some popular engines in the UK and found that some five-year-old models were likely to have made money for their owners.
They examined the average price of the models registered for the first time in 2018 and analyzed the values over a three-month period from July to September 2021.
The data collected was then compared to the price of a 2018 model that is now five years old and has more miles on the clock in the same months this year.
AA Cars found that seven popular cars had increased in value over the past two years as the cost of engines across the country had risen dramatically over the years.
Their study was also supported by AutoTrader’s Retail Price Index, which tracks the price of more than 900,000 cars advertised on the used car platform.
It was found that the average price of a used car was £16,067 in September 2021.
However, the average value rose to £17,736 at the same time in 2023 – an increase of 10.4 per cent.
The engines that make their owners the most money are believed to be 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 to be a target first car for young drivers.
List of cars that have increased in value over the past two years
These are the cars that owners can make more money with today than they did two years ago
- Toyota Aygo – plus 15.7%
- Opel Corsa – plus 11.9%
- VW Polo – plus 8.1%
- Fiat 500 – plus 7.3%
- Toyota Yaris – plus 4.8%
- Ford Fiesta – plus 4%
- Ford Focus – plus 0.7%
According to the automobile company, the Toyota Aygo, among others, recorded the largest increase – and a model from 2018 is now worth 15.7 percent more than two years ago.
The average price of the Japanese city car rose from £8,331 to £9,636 during this period
Second on the list is the Vauxhall Corsa – with a net gain of £1,037 or 11.9 per cent.
Buying a used 2018 model would have cost £8,754 in 2021, now it’s up to £9,791.
Other cars that made their owners significantly more money include Volkswagen’s Polo, which saw an 8.1 percent increase, the Fiat 500, which saw a 7.3 percent increase, and the Toyota Yaris, which saw a 4 percent increase in resale value. 8 percent.
In fact, Britain’s best-selling and most-owned car – the Ford Fiesta – also saw a rise of up to 4 per cent.
Mark Oakley, director of AA Cars, said: “With the exception of some classic vehicles, we rarely see cars increasing in value with age.”
“However, ongoing supply constraints mean that some of the most sought-after models are still appreciating in value, even when sitting on the driveway.”
“Used cars less than three years old have often been purchased on finance and many have only had one owner – meaning they are often in good condition and could be a good choice for drivers looking for value for money .”
The director also recommended that people looking for a used car shop around and find out what price this model usually sells for at different mileage and age.