When buying a new car, no one thinks of resale value right away. We all think about the “investment” we are making and at that point in time you think, "I'm going to keep it forever".
In today’s economy, the 2nd hand car trade is booming people, in most areas can simply not afford the maintenance and upkeep. And of course, the astronomical price being asked for fuel! Whether you have just bought your car or have had it for years, we are driving less and less because to fill up the tank is just quite simply put – out right SCARY! So forget filling it up – tap-in R200 and hope it lasts you the week! The Panda know's time is money and you're already spending too much on petrol so The Panda is here to offer you a chance to save on car insurance in just 5-minutes:
Looking at the depreciation of cars in today’s day and age, it’s almost as scary as the fuel price – put in a ton of money – and say goodbye. Some of the worst depreciating cars drop nearly a fifth of their value within 12 months of leaving the showroom floor.
We show you the most depreciating cars in South Africa:
Although we are all very keen to go electric, the market just hasn’t gotten on the band wagon yet – (wonder if we shouldn’t go back to using wagons – no fuel worries and no depreciation worries – right?). This quiet market has caused sales of the Leaf to be dreary and affect its depreciation.
1 year depreciation – 28%
Even with Fiat pumping out so many little cars, it hasn't slowed down the depreciation rate. Aside from its uncomfortable ride, and the surprising amount of noise, this little car has surprised many with its value loss after 1 year.
1 year depreciation – 33.6%
The 508 is an optimal size for a family car but the market has been inundated with zippy cars that are small and can accommodate a family - hatchbacks are surprisingly spacious and fuel efficient. Even though the 508 is a diesel car - what with fuel prices being what they are - one would have thought it to be optimal, but sadly, the value drop on this vehicle is just too high.
1 year depreciation – 37.3 %
While a hatchback is both loved and preferred, the C4 has disappointed us in different ways. Even though its exterior has been keeping it in line with the Astra and Focus, its unimaginative inside design has left us wanting more. What one has come to expect and love from Citroen, it's a sad case when you decide to snatch up this nifty hatchback expecting the world, then being saddled with the C4 with next to no resale value.
1 year depreciation – 38 %
Ranking at number 1 of quickest depreciating cars.
This car is on par with the BMW 1 series as well as the Audi A3 when it comes to sporty appeal and gorgeous looks. However, when it comes to driving it, you will feel cramped and unimpressed with its handling. So if you are buying for looks, go ahead. Just bare in mind its disastrous drop in value that will leave you wishing you hadn’t committed to it!
1 year depreciation – 38.2%
Your car is depreciating everyday, which means you already losing money on the daily. Make sure you aren't spending unnecessary money on high Car Insurance premiums, get multiple quotes like Taryn did:
Want to know which insurance companies were rated the Best & the Worst in South Africa: