Future classics: best used car values
Tuesday 05 October 2010
When you’re buying a new or used car it’s important to consider its future value, and predicting what will be a future classic can help you choose the best investment.
British Car Auctions (BCA) has announced its list of the top five cars most likely to become valuable collectors’ cars in the future.
BCA’s Tim Naylor said, “If you want a car that has a good chance of gaining classic status in the years ahead – plus the premium values that go hand in hand with that – then there are some interesting options available to used car buyers.”
“Second guessing future trends is never an exact science. Certainly in the collectors car market, beauty really is in the eye of the beholder. Rarity does not necessarily make for desirability, nor does an exclusive and limited model run and high ‘list price’ necessarily mean a car will be worth more in years to come.”
The top five future classics of the last decade
Early Mini One models have held onto their value well – you’ll need around £3,500 for one with 100,000 miles on the clock. Demand is highest for the Mini Convertible, and the Clubman and new Countryman are also expected to perform well.
With production coming to an end, BCA says a Volkswagen Beetle could still prove to be a wise purchase. Early saloons are available from £3,000 but you’d be looking to spend at least £7,000 for a cabriolet with a sensible mileage.
Citroen C3 Pluriel
The quirky Citroen C3 Pluriel is a hybrid of a supermini, convertible and pick-up (with the rear seats folded). You can pick-up an early model from around £2,000 with 60,000 miles on the clock.
As the last few models roll out of dealerships across the UK, the Mazda RX8 looks set to become a future classic, thanks to its rotary engine and suicide-style rear-opening doors. Early models are currently around £3,000 at 50,000 miles.
Vauxhall Omega V6
Vauxhall stopped production of the Omega V6 in 2003, but for around £2,000 you will be able to buy a well-preserved late example at 70,000 miles. A top-spec 2003-registered 3.2 V6 Elite will be nearer £3,000.
Tim Naylor added there will always be a demand for the limited, high-specification performance editions of mainstream models: “Cars such as the RS-badged Fords, Fiat Abarth, Renault-Sport, BMW M-series, Subaru Impreza WRX and Volkswagen Golf R32 models should maintain their value well into the future, providing they are kept in good condition.
“Our Top Five Future Classics is just a taster for used car buyers – there will be many other models that will gain future classic status. But the key for anyone hoping to preserve value in their used car is to keep it well-maintained and serviced, ideally with the supplying franchised dealer. A fully stamped service book will typically add several hundred pounds to a car’s value at three to five years old.”
How do you estimate a car’s future value?
• Contact the manufacturer to ask for a model’s expected future value (residual value)
• Check the value of similar three-year-old models advertised for sale on Auto Trader – this should give you a rough indicator of your car’s future value
What affects used car values?
• Make and model
• Equipment, such as air-conditioning and alloy wheels
• Overall condition
• Rarity of model
• Gearbox, e.g. automatic models are usually worth more than a manual
• Bodystyles, e.g. a five-door or estate is usually worth more than an equivalent three-door model