Lex residual value tables

The UK´s largest contract hire provider of company cars and vans, Lex, has produced its first-ever Top 10 residuals list for cars in three different price sectors.

Split into categories of under 15k, 15-30k and over 30k, the results underline the wide choice of vehicles available to company car drivers and show that individuality, along with style and build quality are what people look for first when buying a used car.

Under 15k

Trendy cars dominated this sector with the iconic MINI (one and cooper) at the top of the list and Honda FRV providing the best choice for family transport. VW´s popular Golf also made it into the list at number 9.

15-30k:

This group saw head-turners like the Audi Cabriolet and Mercedes SLK take the honours, with the BMW 3 series in third spot. Volvo C70 broke into the charts for the first time, along with ´entry level´ 4x4´s - the Honda CR-V and the Toyota RAV4 - and the Toyota Landcruiser proving that style and practicality is a winning combination.

Over 30k:

The Mercedes SLK is top of the list in this sector and the rest of the group is sports cars and grand tourers like the Porsche Cayman and Jaguar XK and top of the range 4x4´s, which shows that the popularity of off-roaders is actually increasing, despite rising fuel prices and the ´gas guzzler´ label that comes with them. The Porche Boxster that has topped the residuals league in past Lex surveys only creeps into this sector at Number 10.

Jon Walden, managing director of Lex, which runs a fleet of 180,000 vehicles, said, “More than ever before, company car drivers are taking the opportunity to go for a car which suits their lifestyle. This means a varied group of cars enter the used market three years down the road, and buyers find them equally appealing and are willing to pay good money for them. Stronger residual values mean less depreciation, and lower monthly costs, a rule that applies to private buyers just as much as company car drivers.”

Used car buyers are mostly looking for reliability and good quality build, however exclusivity is great news for residual values, and the reason that many expensive cars have come out topping previous Top Ten lists. By splitting the analysis into lower priced sectors it highlights that new models and models that are in shorter supply hold the strongest residual values. All-new models take longer to work their way into the used car market, and will be a great way for people to make sure that they get the best return on their new-car investment when they come to sell up in 3 years time.

“Previously we’ve produced just one residual Top Ten list, and when you don’t analyse individual sectors, the upmarket cars tend to dominate – as we saw in 2005 when all the top ten places were taken by aspirational German models,” said Walden.

“By looking at the top ten performers in three individual price sectors we can see much more accurately which are the ‘wise buys’ for all budgets. German cars are still strong, but Japanese, English and Swedish manufacturers are also now well represented.”