Big-selling electric models are among the most depreciating used cars

If there’s one thing most buyers of nearly-new cars want to know, it’s what that car is going to be worth when they sell it on.

After all, a far greater proportion of used cars are bought using cash or personal loans, rather than PCP finance – and that means the amount for which they can be traded in has a much greater impact on buyers’ wallets.

So new data about to be released by CarGurus, one of Britain’s leading used car classifieds websites, which charts the most depreciating used cars, is sure to be of interest.

To work out its ranking, CarGurus calculated the average price drop of cars for sale on its platform over the past year.

Models from 2013 onwards with fewer than 100 adverts were not included, which counted out many specialist or enthusiast marques, as well as newer models whose steeper depreciation curves would have skewed the data.

The results reveal that the model that’s depreciated most over the course of the last year is the Kia Proceed, with a 39 per cent drop in values since last year.

That’s a bit of a surprise given Kia’s lengthy seven-year warranty, which usually means its models are pretty good at holding their value. However, the Proceed’s low profile and unconventional body style may mean many used buyers aren’t really sure what to make of it.

In second place is the more recognisable Tesla Model 3. It heads a trio of popular, high-value electric cars whose values have reduced by between 26 and 29 per cent since last year. A fourth EV, the Renault Zoe, also features in the top 10.

The results suggest used buyers’ enthusiasm for battery-powered cars is on the wane, which is likely due to concerns about battery life and range degradation.

Indeed, according to a survey from Startline Motor Finance, also released this week, more than half of consumers overestimate the amount by which electric cars lose range with time.

The survey found that 56 per cent of car buyers believe that a battery will lose 30 per cent of its range, or more, over five years. In reality, a recent study of 6,300 EVs by Geotab found that that figure is likely to be closer to 12 per cent, at a rate of 2.3 per cent per year.

Also in a nadir of popularity among used car buyers, according to CarGurus’ research, are MPVs (also called people carriers).

Although once big sellers, MPVs have been superseded in buyers’ desires by crossovers and SUVs, which offer a similarly high seating position in a more fashionable body style. As a result, used MPVs are now falling in value faster than most other types of body style.

Here are the top 10 most heavily depreciating cars, according to the CarGurus data.

10. Renault Zoe

A pioneer in the world of electric driving, the Zoe recently rose in value as buyers turned on to its affordability and charm. However, with newer, better rivals now starting to flood the market, Zoe values are starting to fall back once again.

Average value 12 months ago: £21,857

Average value today: £17,423

Percentage drop: 20.3

9. Vauxhall Astra GTC

The Astra has never been a particularly aspirational badge, and high volumes traditionally result in downward pressure on its value. And while this three-door version is smarter looking, it’s also less practical than the regular five-door Astra hatchback, which further dents its desirability among buyers.

Average value 12 months ago: £10,571

Average value today: £8,387

Percentage drop: 20.7

8. Ford C-Max

With their job effectively done these days by SUVs, which are much more desirable, buyers are seeking MPVs such as the Ford C-Max much less frequently, which is what’s causing values to drop off.

Average value 12 months ago: £12,762

Average value today: £10,045

Percentage drop: 21.3

7. Citroën Grand C4 Picasso

Like the C-Max, the Grand C4 Picasso is suffering from the big hits in value being suffered by these smaller MPVs. Furthermore, many Grand C4 Picassos have suffered from years of hard family use; tidy, well cared-for examples are surprisingly few and far between.

Average value 12 months ago: £14,196