A Whole Lot Of Car For Half The Cost
Pre-owned car prices have long been a talking point in recent years. Ever since the surging demand after the pandemic, used vehicles had very strong prices not seen for many years and it has taken a while for them to return to more normal levels. The effects that the pandemic had on used car prices has finally subsided and in many cases has gone in the opposite direction.
Residual values and vehicle depreciation are usually compared against one another after a vehicle is 3 years old and has covered 36,000 miles to see what percentage of their value they have lost over that time. However, some of the more expensive new cars are seeing 50% of their value or more lost over a shorter period of time. Some that may lose their value a bit slower, due to their desirability, are still a irresistible prospect once they are half as expensive as they used to be when they were brand new.
So with that in mind, what cars can be found on the used car market that now cost just half the amount as they did when they were brand new. From luxury grand touring coupes to electric SUV’s and even supercars, you might be surprised to see which models may now be within budget that you have always dreamed of owning. Here is our rundown of some of the most desirable cars on the road that are now perfect for those looking to purchase a lot of car for comparatively not a lot of money.
Aston Martin DB12
Aston Martin are definitely on a roll these days, at least with the cars they are producing. Their finances may not be the most promising, but the famous British brand has never been one for making money anyway. Their solution in previous years was to make do with whatever aging engineering and technology they could get their hands on to attempt to refresh an existing model. But not anymore.
Yes they may still borrow an engine from AMG, but even that is a world away from what powers a G-wagon. The technology is in-house and all-new, the styling remains Aston Martin beautiful and the luxuriousness even better than it has always been. The DB12 is for many the ultimate grand tourer and as a package is easily the best the company has ever produced.
Residual values has never been an Aston Martin strong point however, and with cars becoming more and more expensive these days, they have even further to fall then before. As a result, the starting price of just under £200,000 before any options can easily turn into high £200,000 or even £300,000 by the time it gets delivered. At time of writing there were no fewer than 15 DB12’s around a year old or less with less than 10k miles covered for between £150,000-160,000. A huge saving for nearly new car, especially one that looks as good as this.
McLaren Artura
McLaren often follow a similar path to Aston Martin. They create stunning road cars, are exceptional to drive and are the best Britain has to offer yet build quality and reliability issues have damaged their reputation, and as a result their desirability on the used car market. Though things are improving, they seemingly have a long way to go to tempt some prospective buyers back into the brand.
The Artura is the first of those cars heading in that new direction. Built to be even more advanced, even more powerful and utilising the latest weight saving methods, the 700hp hybrid power Artura is a technological masterpiece. A McLaren is all about the driving experience and in that respect, it is difficult to find anything that can compete with the Artura for thrills and excitement.
A new Artura starts at just over £200,000, yet the temptation of plentiful carbon fibre options, a plethora of colour palettes, equipment upgrades and MSO (McLaren Special Operations) bespoke possibilities means that it is more likely to be north of £250k, easily £300k. At time of writing, there were five Artura models around £150,000 and slightly above, cars that were just a year old and all had covered less than 5,000 miles.
Mercedes Benz EQS
Of the ‘established’ brands, Mercedes Benz have one of the widest selections of electric vehicles on the market. Their ability to churn out every conceivable model type you could possibly imagine has always been admiral, and now they are looking to do the same with their EV’s. They have no fewer than 9 electric models on their website and that’s whilst still producing new combustion and hybrid models at the same time.
Whereas many manufacturers have concentrated on converting their SUV’s to EV’s for now, Mercedes have made sure that their saloon cars haven’t missed out. Their EV saloon range starts with the CLA, then in the middle is the EQE and is topped by the EQS. The S-Class has always been the go-to luxury saloon portraying the very latest technology and safety features, and the EQS has been crammed with more of that than ever before.
EV’s have not had the best reputation when it comes to rapid depreciation and merge that with a luxury saloon body style, itself a traditional depreciation magnet, and the news is not good. Starting at £100,000 for the base model, most customers will no doubt opt for the Premium or Premium Plus levels of trim to ensure maximum comfort and features, instead starting at £120,000. Pre-owned 2024 model EQS’s on with substantial specifications on Auto Trader currently start at just over £60,000, a not insignificant 50% depreciation after just 12 months and just a few thousand miles.
Ferrari 296
The Ferrari 296 was initially launched as the ‘baby’ in the range yet there is nothing entry level about the performance and driving experience. The latest hybrid technology, over 800hp and class leading handling and dynamics ensures that the model has been heralded by motoring journalists the world over. The styling may have been influenced by the legendary Dino and the fact they both have a V6 is where any similarities between the two certainly end.
The model may start at over £250,000 but thanks to the substantial list of options and upgrades and the fact that Ferrari know how to charge for them, most examples will be leaving the factory starting with a three, and by some margin. In fact, selecting as much carbon fibre as you can, some rare paintwork, customised interior options as well as the £25k Assetto Fiorano package may get you very close to £400,000.
As a result of the costly options and the fact that the 296 has suffered for depreciation like many modern supercars, current prices on Auto Trader for the model start at under £200,000. Most have covered less than 10k miles and are less than a couple of years old, some only 12 months, and the majority have extensive specifications to match. One thing is for sure, at not much over half what they cost when they were new, a 296 GTB for £200,000 is the very definition of a lot of car for the money.
Ferrari Roma
The Roma was a welcome addition to the Ferrari line up, a coupe version of their entry level V8 grand touring sports car. Since the California, California T then Portofino and Portofino M were only ever available in convertible body styles, those that wished to cruise around in a front engine rear wheel drive V8 grand touring coupe had been left wanting. Until now.
Based upon the Portofino it replaced yet looking thoroughly modern and stylish, the design has influences of 250 GT Lusso and 250 GT 2+2, not a bad place to start at all. Whilst the exterior was undoubtedly stylish, the interior was an exceptional place to sit, with wraparound separate zones for driver and passenger, it cocoons you as you waft along in complete comfort.
Comfortable V8 GT Ferrari models have never been the best at holding their value however, the California and Portofino especially, and the Roma is unfortunately no exception either. Starting at just over £185,000 the Roma suffers from the same fate as the 296, where expensive options and upgrades means that mid-£250,000 to even £300,000 is easily a possibility. Owners looking to change their car after just six months were reporting a drop in residual value of up to 30%, examples currently for sale at 2-3 years old start at just £135,000. A modern Ferrari that looks, performs and sounds this good for less than £150,000, it’s a very tempting prospect indeed.
Range Rover Sport
Just a couple of years ago the Range Rover Sport saw unprecedented depreciation thanks to security concerns and the rate at which the model was being stolen off people’s driveways. It was so bad that many could not get insured and Land Rover themselves created a scheme to subsidise owner’s extortionate insurance premiums. Owners were either keen to or forced to sell and as a result supply definitely outstripped demand.
But thanks to various updates and solutions all of that is a distant memory now and the Range Rover Sport retains its position as one of the very best luxury SUV’s on the market. There’s a reason you see so many about, the levels of comfort and luxuriousness, especially in the latest model, is a trademark of the brand and only improves with each generation.
Despite this appeal and the fact that its security woes are a thing of the past, prices of the Range Rover Sport have been falling faster than you might think of late. If you’re looking for a model with almost all the creature comforts included you’d be looking for an Autobiography, these days starting at over £100,000 before any options. At time of writing on Auto Trader you could expect to find 2024 Range Rover Sport Autobiography models with around 10k miles covered for as little as £63,000, there were no fewer than 20 for sale at less than £70,000.
Porsche Panamera
Many thought that with the introduction of the Taycan, the Panamera’s days could well be numbered. However, the latter is not only larger and more luxurious, and some would say better looking, but it also offers a fantastic range of both petrol and hybrid models that include something for everyone.
From the V6 hybrid that produces a healthy 450hp yet is capable of over 130mpg, to the 760hp Turbo S that can rival most supercars for speed and acceleration, it remains an impressive prospect. Not to mention the abundance of the very latest technology and driver aids, enough space, comfort and refinement to please the whole family and the famed Porsche driving experience that sets their models apart from most.
These days however, like most new cars, the Panamera is an expensive purchase. Starting at around £90,000 before you even look at the considerable Porsche options list, it’ll be rare to find one that didn’t end up over £100,000, most of even the basic model will reach £110-120,000. The range topping Turbo S starts at £175,000, so don’t expect any change from £200,000 by the time you have it just the way you want it. It is these high prices that see a barely 12 month old Panamera with around 10k miles covered starting at low £60,000’s, even the more expensive hybrid starts at just under £70,000.
Maserati GranTurismo
The Maserati name evokes memories of historic racing victories, exceptional sounding sports cars and luxurious grand tourers. They’ve had their moments, their setbacks and multiple owners over the years, but the brand reputation remains one steeped in history. They have, however, had a reputation for often being the kings of quick depreciation especially in recent times.
These days they make some stunning cars. The stylish Gracale SUV, the svelte GranTurismo and the beautiful MC20 (now MCPura). In recent times the most popular of those models has been the GranTurismo and the all new one is even better, and substantially more expensive, than ever before. Available as a 500hp petrol model, a 550hp petrol ‘Trofeo’ or the 760hp ‘Folgore’, the range costs £125,000, £150,000 and £175,000 respectively.
Despite being hailed as an impressive sports car/grand tourer, the depreciation curse has once again taken its toll on the Maserati brand. The Trofeo is where most people will be spending their money, but as the more expensive of the two combustion engine models it also has further to fall in terms of depreciation. Currently on auto Trader there are just 13 models for sale, but of those, more then two thirds are brand new Trofeo model cars and the least expensive starts at under £100,000. The others are barely six months old, have covered just a few thousand miles and start at £125,000. It surely won’t be long until they are 50% of their value for a nearly new vehicle.
BMW 7-Series
The flagship executive BMW 7-series saloon is one of the finest and most luxurious cars money can buy. Any car that shares its platform and 20% of its parts with the Rolls Royce Ghost is certainly going to be a great place to start. The blend of comfort and refinement, an abundance of the very latest technology and driver assistance systems and the ability to have huge amounts of power means it could very well be the perfect car for all situations. With the latest model taking the concept further than ever before, how does the previous generation look as a pre-owned prospect.
The least expensive way into the 7-Series range from new starts at just over £70,000 for the 730d and rises to the most powerful long wheelbase version in the 760Li xDrive at very nearly double the price. With an extensive list of optional features to make your 7-Series even more impressive and even more capable of providing the most luxurious and sumptuous driving experience, many vehicles’ on the road cost are considerably more than their starting price would suggest.
As usual with large executive cars, the residual values suffer when it comes to the standard 3 years or 36,000 miles of ownership. An Auto Trader search shows that a 2021 car that has covered around 20k miles starts at just under £35,000, a considerable drop in value in barely 3 years, whilst the top of the range 760Li does not appear at all. Maybe owners like them too much so are holding on to them, or they’re to afraid to see how much of the value has been lost. Either way, as a pre-owned car that is filled with technology and offers a sumptuous ride yet with a dynamic drive, the 7-Series is a fantastic used buy for those looking for the finer and more comfortable things in life.
INEOS Grenadier
INEOS were so fond of the original Defender that when Land Rover ceased production to replace it with the all new one, they decided to recreate its basic looks and appeal to keep its spirit alive. With utilitarian appeal yet with modern technology and BMW engines, the INEOS Grenadier seemed like the perfect combination of nostalgic appeal with modern underpinnings and real off-road capabilities. Like an alternative to a Mercedes Benz G-Class.
At prices starting at over £60,000, before you have added things like Safari Windows, Exterior Utility Belt, Union Jack Plaques and an Access Ladder, the Grenadier can get quite pricey. Despite promising reviews and seemingly strong sales at launch, there seems to be less buzz around the INEOS offering these days, even with the addition of the Quartermaster pick-up truck version.
At time of writing there were 80 examples of Grendier for sale on Auto Trader, and all are less than 2 years old, most covered less than 10k miles and the starting price was just £40,000. Considering most will have opted for various packs and accessories from new this means that the Grenadier has potentially lost up to 50% of its value in just 2 years. If you bought one new it might not be good news, but if you are looking for a very capable, alternative SUV from between £40-£50,000, the INEOS is a very tempting pre-owned prospect.
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