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2000’s used car prices almost double – how much is your old car worth?
Many used cars from the noughties are becoming an appreciating asset - find out if the car on your drive is worth more than you paid for it.
Words by: Andrew Woodhouse
Last updated on 2 November 2023 | 0 min read
Prices are going up all over the place, but that could be good news for those with a car on their drive. In a lot of instances, second-hand cars are becoming appreciating assets – meaning they’re worth more now than when last bought.
We used our free valuations tool on Auto Trader to find out how much were some of the classic cars from the 2000s worth today. The data showed that the value of some of the best-selling cars from 2004 such as Ford Focus and Vauxhall Corsa have increased massively when compared to their pre-pandemic value in 2019. The average price of a Ford Focus was £1,863 in September 2023, marking a 74.8% increase on the same time in 2019 on a like-for-like basis. You can find out how much your car is worth using our free car valuation tool. We look at millions of vehicles every day to provide you with a fair accurate view of what your car’s really worth. Our valuations tool is completely free and you can find out your car’s value in just a few minutes.
We used our free valuations tool on Auto Trader to find out how much were some of the classic cars from the 2000s worth today. The data showed that the value of some of the best-selling cars from 2004 such as Ford Focus and Vauxhall Corsa have increased massively when compared to their pre-pandemic value in 2019. The average price of a Ford Focus was £1,863 in September 2023, marking a 74.8% increase on the same time in 2019 on a like-for-like basis. You can find out how much your car is worth using our free car valuation tool. We look at millions of vehicles every day to provide you with a fair accurate view of what your car’s really worth. Our valuations tool is completely free and you can find out your car’s value in just a few minutes.
What’s causing prices to go up?
Put simply, there aren’t enough used cars available to meet demand.
The current shortage of new cars, caused by a combination of factors including microchip shortages and global uncertainty, means more people are turning to the used car market and so increasing competition for the limited stock available. With stable levels of consumer demand in the market and no improvements in supply in sight, car values will remain strong for quite some time to come
The current shortage of new cars, caused by a combination of factors including microchip shortages and global uncertainty, means more people are turning to the used car market and so increasing competition for the limited stock available. With stable levels of consumer demand in the market and no improvements in supply in sight, car values will remain strong for quite some time to come
Your car could be worth more than you think
Traditionally a car loses value as soon as you drive it off the retailer’s forecourt. But this imbalance of supply and demand for used cars means their value is increasing, and becoming an appreciating asset. For many people, this means the car sat on their driveway could be worth more than they originally paid for it.
We all like to check the price of our house, but given the current market, it’s well worth checking the price of your car too by using our free tool. Our car valuations are fully data-driven take into consideration various factors, such as the age, mileage and trim level to ascertain how much your car is really worth. The Vauxhall Corsa, for example, has seen a massive 94.4% price increase as compared to its price on 2019. Other popular models recording the largest price growth last month include the Vauxhall Astra, Renault Megane and Peugeot 307 - all recording an increase in value of over 70%.
We all like to check the price of our house, but given the current market, it’s well worth checking the price of your car too by using our free tool. Our car valuations are fully data-driven take into consideration various factors, such as the age, mileage and trim level to ascertain how much your car is really worth. The Vauxhall Corsa, for example, has seen a massive 94.4% price increase as compared to its price on 2019. Other popular models recording the largest price growth last month include the Vauxhall Astra, Renault Megane and Peugeot 307 - all recording an increase in value of over 70%.
Check out the top 10 biggest value increases in some of the classic noughties cars (September 2019 vs September 2023)
• Vauxhall Corsa, average asking price of £2,197 in September 2023 - an increase of 94.40%
• Vauxhall Astra, average asking price of £1,998 in September 2023 - an increase of 86.90% • Renault Megane, average asking price of £1,882 in September 2023 - an increase of 80.40 % • Ford Focus, average asking price of £1,863 in September 2023 - an increase of 74.8% • Peugeot 307, average asking price of £1,678 in September 2023 - an increase of 71.40% • Ford Mondeo, average asking price of £4,849 in September 2023 – an increase of 48.80% • Ford Fiesta, average asking price of £11,659 in September 2023 - an increase of 45.80% • Volkswagen Golf, average asking price of £2,150 in September 2023 - an increase of 37.80%
• Vauxhall Astra, average asking price of £1,998 in September 2023 - an increase of 86.90% • Renault Megane, average asking price of £1,882 in September 2023 - an increase of 80.40 % • Ford Focus, average asking price of £1,863 in September 2023 - an increase of 74.8% • Peugeot 307, average asking price of £1,678 in September 2023 - an increase of 71.40% • Ford Mondeo, average asking price of £4,849 in September 2023 – an increase of 48.80% • Ford Fiesta, average asking price of £11,659 in September 2023 - an increase of 45.80% • Volkswagen Golf, average asking price of £2,150 in September 2023 - an increase of 37.80%