Think small to save big money on cars
March 28, 2006
Canny Kia Picanto buyers are laughing all the way to the bank according to latest research from Parker’s Car Price Guide. Results from an investigation into car depreciation shows that no car has lost less money over the past 12 months than the compact city car.
Buyers who took delivery of a Picanto last February will now be looking at an average loss of just £1,091. Or, looking at it another way, £21 a week, the cost of two weekly KFC takeaway Family Buckets. Cute looks, a generous specification and a keen list price combined with an aggressive TV marketing campaign means that Picanto is a popular used buy, which is helping to keep used prices firm.
Kieren Puffet, editor of Parker’s Car Price Guide said: "These results will surprise many, but if you don’t want to lose a lot of money owning a car, then the message is 'think small to save a large amount'.
Picanto is just one of seven superminis in the top 10, showing that when it comes to holding value, small is beautiful. MINI – which has been re-writing the depreciation rule book in recent years – continues to perform strongly, and takes second place in the table with an average loss of £1,301 between February 2005 and February 2006. Although it’s been on sale since 2001 and is a common sight on the road, it remains as popular as ever. The Cooper Convertible is also a strong performer, taking the fifth spot.
Other Top 10 results are more surprising and include two quick Skodas – the Fabia and Octavia vRS – and the Daihatsu Sirion and Daihatsu Copen.
Kieren Puffett added: "Rather less surprising are the cars at the foot of the table, which is dominated by blue-chip names like Ferrari and Mercedes-Benz. Although many of these cars have only lost a small percentage of their list price, the totals still run into the tens of thousands of pounds, proving that you have to spend a lot to lose a lot."
Make Model Average loss
1 Kia Picanto £1,091
2 MINI One/Cooper Hatchback £1,301
3 SEAT Leon Cupra R £1,407
4 Honda Jazz £1,433
5 MINI One/Cooper Convertible £1,444 6 Skoda Fabia vRS £1,526 7 Daihatsu Sirion £1,775 8 Skoda Octavia vRS (01-05) £1,778 9 Vauxhall Tigra £1,852 10 Audi A2 £1,891
The Parker's website was set up in January 1999 with the aim of helping the motorist to choose the right car at the right price.
The Parker's team of independent experts analyse 1.5 million car sales every year from dealers, private sales and auctions. We value more cars, with greater accuracy and are more trusted by more people than any other price guide you can buy.
Parker's is owned and published by Emap. Emap’s Automotive Network is the UK’s leading car and bike media company, which publishes 28 consumer and business magazines, hosts five shows and has given birth to nine digital businesses. Its brands include Max Power, Car, Parker’s and Motor Cycle News.
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