Study Reveals Cars That Have Increased in Value
A recent study by AA Cars has identified seven commonly used cars in the UK that have gone up in value over the past two years. The study compared the average prices of five-year-old models and found that some owners have likely made money on their vehicles.
Toyota Aygo Sees Biggest Rise
According to the study, the Toyota Aygo saw the biggest increase in value among the cars analyzed. A 2018 model is now worth 15.7% more than it was two years ago, with the average price jumping from £8,331 to £9,636.
Other Cars That Made Owners Money
Several other cars also saw significant increases in value. The Vauxhall Corsa saw a net increase of £1,037 or 11.9%, while the Volkswagen Polo rose by 8.1%. The Fiat 500 increased by 7.3%, the Toyota Yaris by 4.8%, and even the popular Ford Fiesta saw a 4% increment.
Factors Contributing to Value Increase
The cars that have seen the most value appreciation are small vehicles that are fuel efficient, have low insurance premiums, and are cheap to tax. These cars generally offer affordable running costs and are often sought after as first-time cars for young drivers.
Expert Advice for Buyers
Mark Oakley, Director of AA Cars, advises anyone in the market for a used car to shop around and research the typical selling prices of different models at various mileages and ages. He also notes that used cars less than three years old, often bought on finance and with just one owner, are in good condition and can offer great value for money.
