Depreciation Rates for Individual Irish Cars

T

Toscanna

Guest
I am looking at buying a car (probably a Toyota Avensis) and am looking for depreciation rates for individual Irish cars. I am especially interested to find out how much new cars depreciate in value after 1 year. For UK cars I was able to get depreciation rates for individual cars from www.whatcar.co.uk and www.parkers.co.uk but I can't find similar information for Irish cars.

After looking at prices on for a 1 year-old 2004 reg Toyota Avensis, 1.8L saloon, it doesn't seem as if the Year 1 depreciation rates given by Parkers and WhatCar apply here.

WhatCar & Parkers => 1 yr depreciation rate of approx 30%
search => 1 yr depreciation rate of between 10% and 20%

Does anyone know the reason for this difference in the depreciation rate?

Does anyone know of a website detailing individual Irish car depreciation rates?

Many thanks.
 
Can't help you with the site as I don't think there is an Irish one. You can get avergae prices from cbg.ie for the car that you are looking to buy. My own advice - look for a clean, low mileage 2nd hand Avensis no less than 2 years old. Buy that and let the previous owner take the hit for depreciation. If you can find a 3yr old car - even better. Depreciation tends to level off after the 3 year mark.

Reason for the difference in depreciation between UK and here might have something to do with consumer buying patterns. 3-box saloons like the Avensis have been blown out of the water by niche models (MPVs etc.) and the BMW 3-Series. 3-Series here is a big hike in price over an Avensis - not so in the UK.

Good luck...
 
No comparable data available. The market is too small. Some obvious things though - big French cars in particular depreciate quicker than they drive. Mondeo sized petrol engined cars 1.8 and above loose quite a bit of value over 2 or 3 years - BMW's less so than Citroen for example.

If you want to minimise depreciation on a newish car, I'd suggest a Mini Cooper. If you need space a mini MPV (Scenic or Focus C-Max) especially in diesel engined form will retain reasonable value. In a bigger saloon a used Merc. E class CDI is good.

Which ever you choose, depreciation is a sore reality. The trick is to minimise it, within reason.
 
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