For buyers lucky enough to be in a postion to consider splashing out on a new car (just over 77,250 of you so far this year) financial considerations such as fuel, warranty, servicing and all of the other factors that make up a cars TCO (Total Cost of Ownership) are extremely important.
Although largely silent – one of the the biggest costs for car owners is depreciation. Hot on the heels of our new vehicle valuation service, www.textcheck.ie -(Text VALUE followed by your reg to 51155) the Motorcheck team have today produced the industry’s first comprehensive analysis of residual values. The study examined a wide range of cars in key segments and the results show that the most popular categories are dominated by a small number of marques.
The Toyota Yaris, Auris and Corolla along with Skoda’s Fabia, Octavia and Superb shared top billing with the Ford Focus and Opel’s Insignia.
The study used a sample of 12,530 of the top selling vehicles in Ireland and examined the percentage of the original purchase value retained by those vehicles over a three-year period. The results were very interesting.
In the Small Hatch Petrol segment, the top-selling version of the Toyota Yaris retained 66% of its original value after three years, ahead of the Peugeot 207 (65%) and Hyundai i20 (64%).
While in the Small Hatch Diesel Segment, Skoda’s Fabia 1.4 TDI retained 67% of its original value ahead of the Ford Fiesta 1.4 TDCI (66%) and Opel Corsa 1.3 CDTI (65%).
In the popular Mid-Range Hatch Segment, when it came to petrol engine models, the Ford Focus retained 63% of its value after three years, ahead of the Volkswagen Golf with 60% and the Toyota Auris with 54%.
For Diesel Powered Cars, the Toyota Auris retained the largest portion of its original purchase price (62%) ahead of the Volkswagen Golf (60%) and Hyundai i30 (59%).
Toyota’s Corolla saloon retained 58% of its value to be the car with the best residual value in the Mid-Range Petrol Saloon segment ahead of the Ford Focus (49%) and Nissan Tiida (47%).
However when it came to diesels in this segment, which make up the overwhelming majority of this class, the Skoda Octavia was number 1, retaining 62% of its original value ahead of the Toyota Corolla (60%) and Ford Focus (60%).
Moving up to the Large Saloon Petrol Segment, the Opel Insignia retains 49% of its original value after three years, with the Toyota Avensis retaining 49% and the Mazda 6 retaining 43%.
In the Large Diesel Saloon Segment, the Skoda Superb is the overwhelming champion in this class, retaining 61% of its original value compared to the Ford Mondeo with 52% and the Opel Insignia with 52%.
According to the results buying a small diesel-powered hatchback is the shrewdest decision when it comes to residual values as they on average retain 62% of their new value after three years.
This is followed by the small petrol hatchback segment with 61% and the mid-range diesel hatch. Diesel powered cars hold their value better than petrol powered cars in every category of the Motorcheck report, with the biggest difference on average between Large Diesel Saloons which retained 50% of their value after three years and Large Petrol Saloons which retained just 43% of their value after three years.
Understanding which car will depreciate the least before you buy it new could save you thousands when it comes to trading it in or selling privately later.
This morning we were invited into the Ireland AM studios at TV3 to chat with Mark Cagney about some of the more common problems we come across daily. Car clocking, insurance write off’s, outstanding finance and a variety of other important pieces of information we report on for Irish car buyers were all featured.READ MORE »
TextCheck.ie is a new SMS based service from MotorCheck.ie – the Car History People. Text VALUE followed by the Reg to 51155 to receive an instant valuation and a free identity check. A great new service that gives buyers and sellers alike the ability to Benchmark the price of any car (or van) in Ireland.READ MORE »
One piece of news that we couldn’t ignore this week was the new FREE ‘Topaz App’ that was launched. It’s something we’ve been looking forward to seeing in the app store for a while now. Motorcheck provides the data the app uses for its mileage check facility and is a great example of how our automotive data can be used in innovative ways by our business customers.READ MORE »