Top 5 cars LOSING their value the quickest revealed including leading electric models – do you need to sell up fast?

THE TOP five cars that are losing their value the quickest have been revealed - including leading electric models.

EV owners have been warned to be wary of depreciation over time - as technology can rapidly become out-of-date.

6

6

6

Overall, electric cars saw their value decrease by an average of 78% last year, new research by digital car finance provider Carmoola suggests.

After analysing 40 million car sales, the company found the Renault ZOE to be the fastest depreciating model.

The car saw its value drop by a whopping 67.4% over a three-year period - or after 36,000 miles had been driven.

The swanky model generally sells at around £9,175 - so owners should expect to only get about £2,991 back after three years.

The Renault ZOE was the UK's best-selling car back in 2015 - with the French car titan churning out 400,000 of them in 12 years.

But, it eventually fell prey to competition from the likes of the new all-electric Vauxhall Corsa and Citreon e-C3 - and came off the production line last year.

Next up on the list, is the Nissan Leaf, which depreciated by 64.6% over the same time frame or mileage.

However, hopefully the same fate won't be repeated this year - as the car is set to receive a makeover this summer.

And, coming in at third, fourth and fifth were Jaguar's I-PACE, Audi's E-Tron and Mercedes-Benz's EQC.

At the other end of the spectrum, the Hyundai i10 was ranked the slowest-depreciating car model - retaining 83.4% of its value.

At a current average sale price of £9,134 this means that a Hyundai i10 would only lose £1,516 after three years.

Aidan Rushby, founder and CEO of Carmoola, explained that a reduction in battery life over time may be another factor in the heavy representation of EVs on the list.

He said: "This analysis highlights the evolving dynamics of the car market, where factors like fuel type, body shape, and even colour can significantly impact a car’s value over time.

"While traditional petrol and hybrid vehicles continue to demonstrate steady value retention, it's apparent that rapid advancement of technology and concerns about battery longevity is continuing to impact the EV market.

"For savvy consumers, this underscores how smart it can be to invest in a used car.

"A three-year-old vehicle, for example, often offers much of the same tech and aesthetics as a brand-new model, but at a significantly lower cost.

"It’s a prime example of making a financially savvy and sustainable choice.

"Among budget-friendly options, the Hyundai i10 stands out as the most cost-effective purchase, combining excellent value retention with affordability and practicality."

It comes after experts revealed the six used diesel cars that soared the most in value last month.

They included the Vauxhall Insignia Grand Sport, Renault Megane and BMW 2 Series Active Tourer.

6

6

6