5 Of The Most Depreciating Cars In South Africa
Your car’s value depreciates every year, but some cars depreciate quicker than others. Which cars are the most at risk for losing value?
Published: Tuesday, February 21st 2017
It’s a known fact that a car loses value as soon as it is driven off the showroom floor. The urban legend of it losing half of its value is thoroughly incorrect, however, unless you drive the car straight into a wall. But, cars do depreciate as soon as you have bought them. Some depreciate at quicker rates than others and you could end up getting very little for the car you have invested so much money in.
5 Of The Most Depreciating Cars On The Road
So, what are the highest depreciators at the moment? Interestingly, electric cars are the makes currently taking the biggest.
1. Infiniti Q50
In theory, the Q50 seems like a good buy. It has a Stop-Start System, Infiniti inTouch, Rear view Camera, and all of the extras that come with a luxury car. Its starting price is currently sitting at around R475 200 for the entry level model. When you hear that the car only retains 36.8% of its value, however, you might want to think again about signing for one. Although the car drives really well, handling is said to be disappointing and it does not come with a jack and spare wheel.
2. Nissan Leaf
Most people who buy a Nissan Leaf feel like they have made a great investment and will be saving by charging the car. The fact is, however, that electric cars depreciate more than any other car on the market. The Leaf, in this case, is the highest depreciator globally. It is estimated that over its purchase lifecycle, it will only retain a shocking 23.3% of its value. Retail value of the car is currently sitting at around R400 000. A second-hand 2014 is, however, currently valued at half that price.
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3. Alfa Romeo Mito
It is an unfortunate truth that Alfa Romeo’s are known to last a lifetime. Maintenance is expensive and the car spends almost as much time in the workshop as it does on the road. The Mito is, unfortunately, no different. Despite it being visually beautiful, the car is known to depreciate heavily the moment it reaches the road. Retail price for the Mito is sitting around R265 000 and it is estimated that the car only maintains 35.3% of its value.
4. Maserati Quattroporte
This is not something that Maserati lovers will want to hear. The Quattroporte’s retail value is sitting around R2.5 million. But, the depreciation will make you think twice before snapping one up. Don’t get us wrong, the car drives well, handles beautifully, and is absolutely stunning to look at. The problem comes in with the high maintenance costs and huge price tag on the car. This super luxury car only retains 34.4% of its value, which makes it almost untouchable.
5. MG6 Fastback
Many were disappointed with the MG6. Enthusiasts were excited to see what the company would produce after being bought over by a Chinese company. Results were, however, disappointing. Retail value of the car is, however, currently sitting at R249 900. With its bland exterior, cheap interior, and underwhelming performance, the resell value is incredibly low. Not only are running costs exceptionally high, but the car only retains a shocking 25.4% of its value. This might be a car to look over if you are in the market for a new car.