July 20, 2007 The MINI has topped the Lex retained values list for second-hand automobiles in the U.K. for the second year running, beating out a long list of seemingly far more prestigious vehicles. The Lex listing looks at how much each model will be worth in the second hand market after a typical three year/60,000 mile contract and the MINI had the highest retained value at 54%, taking out top single car honours. Viewed by brand name, Audi was the most coveted used car brand according to the data compiled by the UK’s leading leasing company. Last year's results can be found here.
In 2007 not surprisingly those new models that are in current short supply have the best future residual value.
In the second and third place on the list are the Audi TT and A5, which together with the A3, Q7 and Cabriolet put more Audis in the Lex list than any other car maker.
Surprisingly the Lex list shows the anti-4x4 lobby has not hit residual value predictions, with no less than seven in the top 20, including the new Land Rover Freelander, Honda CRV and Mercedes M Class.
Bread and butter fleet cars have struggled to get anywhere near the top 20, but the nearest are the Audi A3 (7th) and the BMW 3 series (18th) which between them enjoy strong fleet sales. Volvo’s C30 is the only true three door hatchback in the top 20 at number nine.
There is only one green entry – the Toyota Prius in 15th place, while the Porsche Boxster, for so long top of the Lex list, has fallen to 14th. This shows how a car’s residual value halo can slip when a volume of cars start to appear in the used market.
“Most used drivers aspire to the same credentials as a new car buyer, that of style, exclusivity and reliability and that’s why this list is the way it is,” said Steve Jones, Lex Pricing Manager.
“Those used buyers who can’t afford a new MINI or Audi TT may well be able to stretch to a used one in two or three years time so they will be in high demand, thus pushing up prices,” he added.
Low volume supercars such as Ferraris and Lamborghinis have been taken out of the list to ensure a more realistic view of the UK car population.