cars that hold their value

Selling Your Car: Cars that Hold their Value

Going through the process of selling your car can be a long and tedious task. Arranging multiple viewings, researching market cost and estimating the worth of your car in its current state. The same applies with buying a car, you need to consider all factors including mileage on second hand cars, emissions, practicality and more. But one factor that is often overlooked or unknown is which cars maintain their worth. For sellers it can be the shock of discovering how much your vehicle has deprecated in cost. And for buyers it could be the unknown of whether to buy a more expensive second hand car or a cheaper new car. 

Shopless looks into what car brands and models hold their value. And ways you as a car owner can maintain your car’s worth. 

Kiwi’s Favourite Brand : Toyota

Typically Toyota has been the most popular brand in New Zealand since the 90’s. Known for  reliability, longevity and affordability a Toyota vehicle tends to depreciate slower when compared to other makes of car. Worldwide this is also the case. Even if the mileage on the toyota vehicle is high, it still is popular and known to sell easily. In particular in 2022 SUV’s and FWD vehicles in the Toyota range. Motor trend estimated that on averageToyota vehicles held 58.7% of their value over five years. Retaining the highest percentage of value out of all brands of cars.  

In New Zealand the most popular model of Toyota is the Toyota Hilux, ranking in the top most popular cars in New Zealand. Therefore if you are looking for a car that holds its value. The Toyota Hilux is a good option. Additionally, the Toyota car listed as the slowest to depreciate is actually the Toyota Forerunner. Will a depreciation of only 24.7% over a 5 year period, on the world stage. 

SUV Popularity and Landrover

Currently SUVs are the most popular vehicle across New Zealand. Therefore if you are wanting to sell a SUV vehicle of a reputable brand such as Honda, Nissan, Toyota etc, Then it should be easily sold on, when needed. Additionally if you were to purchase a SUV generally you would have a good pool of options to choose from. Land Rover is one brand that has significantly benefited from these particular vehicles gaining popularity. It is estimated in the UK that Land Rover models only lose 37% of their value over 5 years. Landrovers are popular in New Zealand but not listed in the most popular SUVs in New Zealand, however the design is indicative of what kiwis prefer to purchase.   

Vehicle Maintenance and Preserving Value

Regardless of whether you have a vehicle that is known to hold its value for longer. There are steps you can take to ensure that your vehicle is preserved to a high quality and standard. Maintaining your car and keeping records of the vehicle history is an important starting block. Particular if you have purchased your vehicle in new or near-new condition. This means that you can verify the history of your car when you list it for sale. And a buyer is more confident to purchase the car with you. Additionally keeping the car in a constant clean state also preserves value, as buyers can tell if there has been mess, unusual odours and scratches on the interior of the car. 

Some sources also suggest that the colour of the car also plays a role in the resale value. Purchasing a neutral or popular colour car such as silver, black or white. Ensures a buyer is not put off by the look of a vehicle when inspected. 

Cars are known to depreciate in value. So it is important to be aware of the brand and model of your purchase. Particularly if you are planning on reselling your car in the future. But ultimately a purchase is dependent on the buyer’s personal preference. 

If you are looking to buy or sell your vehicle, make sure to take a look at the listings on Shopless online marketplace, here. We have a range of make and models listed, and we offer a great platform to start looking for your ideal vehicle in New Zealand.