Cars that hold their value in 2024

Last updated February 10, 2023

Are you in the market for a car that will hold its value in the long run?

Depreciation is one of the largest costs associated with owning a vehicle - and finding a car that will retain its value is key to getting the most out of your purchase.

If you want to sell your car and make the switch to a newer, more dependable vehicle, but are unsure which model will deliver value in the longer term, read on...

We’ve put together a list of 10 cars that offer strong value retention in 2023. If you’re looking for a reliable, well-made car that will protect your investment, all these models are worthy of your consideration.

However, before we get into our list of 10, let’s take a look some of the key reasons why some cars hold their value better than others.

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Why do cars hold their value?

Resale value is an important consideration for anyone looking to buy a new or used vehicle. So, why do some cars hold their value and beat depreciation?

There are numerous factors that can influence a car’s resale value. These include:

  • Brand recognition

    Cars from reputable or prestigious brands tend to have a higher long-term resale value, because buyers associate these brands with quality and reliability.

  • Technology

    Vehicles with modern technology such as automatic braking systems, lane departure warning and parking assistance remain desirable - even when they’ve been on the market for some time.

  • Fuel efficiency

    With fuel prices remaining relatively high, many people are looking for vehicles that will provide good fuel economy. Cars that achieve more miles per gallon will help buyers save money in the long run since they cost less to fill up at the pump. This should also help them to hold more of their value over time.

  • Condition

    How well a car has been maintained throughout its life will significantly influence its resale value. If the vehicle has been regularly serviced, it will likely hold its value better than if the owner has missed service intervals and other important maintenance. Regardless of a vehicle’s age, if it is in good condition and has no major repair issues, it can command a good price on the second-hand market.

    Want to know how much your car might be worth? Enter its reg number and mileage into our free car valuation tool and we will provide you with an instant valuation.

Slow-depreciating car brands

It’s no secret that depreciation is one of the greatest expenses of car ownership. However, not all cars depreciate at the same rate.

Cars from certain manufacturers are renowned for having slower rates of depreciation. This may be due to factors such as the brand’s prestige, reputation for reliability or high build quality. We’ve collated a list of car manufacturers that have solidified their reputation for strong value retention:

  • Land Rover
  • Toyota
  • Porsche
  • Volkswagen
  • Range Rover
  • Lotus
  • Lexus
  • MG
  • Mitsubishi
  • Jaguar

If depreciation sits high on your priority list, you should give serious consideration to the brands highlighted above – you’ll be pleased when it comes time to sell your luxury car.

However, bear in mind that this list only relates to brands’ overall reputation for value retention; depreciation rates can vary significantly throughout a brand’s range of models. Therefore, in order to get the full picture, it is also important to pay attention to the depreciation rate for the specific model you are considering.

10 slow-depreciating car models

With many cars losing their value quickly, it can be difficult to find models that retain their worth. To help make choosing a car easier, here’s a list of 10 slow-depreciating car models based on the average value retained after three years:

Land Rover Defender

Land Rover Defender parked in driveway  

Retained value: 74.97%

Average retained value: £56,710

The Land Rover Defender has been a fan-favourite since its first appearance in 1948. After years of anticipation, the latest iteration of the Defender was finally unveiled in 2020. The manufacturer’s skills are showcased throughout the car - and it doesn’t neglect all the hardcore off-road attributes that have made it so popular over the decades.

The new Defender incorporates modern luxury SUV features into its classic design. Its style, power, versatility and practicality make the Defender a highly sought-after car. In fact, the sheer demand for this model has helped to make it one of the slowest-depreciating new cars available on the UK market.

The Defender is not only an attractive investment, but a reliable and luxurious family vehicle that should serve you well for years to come.

Porsche Macan

Porsche Macan  

Retained value: 70.49%

Average retained value: £42,352

The Porsche Macan is a small SUV that has certainly been making waves in the automotive world. Its stylish yet practical design has ensured its popularity among luxury car enthusiasts.

The Macan is a compact SUV that offers ample room for four adults and a decent-sized boot. So, it’s safe to say it ticks all the boxes when it comes to family-friendly motoring.

Underneath the hood, you’ll find a 2-litre turbo petrol engine, which provides plenty of power and favourable fuel economy. Therefore, you won’t be breaking the bank just to keep your car running! The Macan offers a good level and luxury and performance – all at a surprisingly affordable price tag. It’s also reliable – and a great choice for anyone seeking a long-lasting vehicle.

Of course, the Macan holds its value very well over time, making it an excellent long-term investment, particularly if your budget can’t quite stretch to purchasing one outright.

Volkswagen ID. Buzz

 

Retained value: 70.11%

Average retained value: £41,712

The Volkswagen ID. Buzz is a cool MPV that is the spiritual successor to the iconic VW Type 2 bus of the 1950s.

If you’re looking for a reliable, yet stylish minivan for adventuring – and want to make your money go that little bit further, the ID. Buzz minivan could be a smart investment.

The impressive electric range (around 205 miles on a full charge) and efficiency is arguably the ID. Buzz’s biggest selling point. Its robust construction and stylish design ensure that you can travel with confidence. The benefits don’t end there, either. The ID. Buzz is packed with plenty of on-board tech and advanced safety features for a smooth, hassle-free ride.

Range Rover Evoque

 

Retained value: 69.83%

Average retained value: £32,912

The Range Rover Evoque is an upmarket, British-built SUV that has been described as one of the slowest-depreciating car models in 2023.

The R-Dynamic trim levels offer even more luxury than the standard Evoque models. However, whichever version you opt for, you’ll be investing in a car that’s stylish, desirable – and most importantly, strong on value retention.

Performance-wise, the Range Rover Evoque fares well, thanks to its strong 4-wheel drive system, which provides plenty of power, along with excellent handling. Its impressive fuel efficiency and emissions make this SUV the perfect choice for those seeking an economical, yet reliable ride.

What’s more, the interior design is suitably modern and luxurious - with plenty of space for passengers and cargo alike.

Porsche Cayenne

 

Retained value: 69.57%

Average retained value: £59,429

Porsche is well known in the luxury SUV arena, thanks to popular models such as the Cayenne. With a reputation for reliability and longevity, the Cayenne is also known as one of the slowest-depreciating SUVs money can buy.

Despite having some of the highest-priced options in its class, owners can relax in the knowledge that their Cayenne will retain its value over time. This isn’t just true for the premium V8 models; there isn’t much difference in terms of depreciation among the more mainstream six-cylinder offerings, either.

Furthermore, with the recently introduced plug-in electric variant scoring high on both efficiency and resale value, it’s no surprise that this luxury SUV continues to be a popular choice among drivers worldwide.

Porsche Taycan

 

Retained value: 69.35%

Average retained value: £69,817

The Porsche Taycan is an all-electric car that has been touted as one of the most desirable fully-electric cars on the market. The standard coupe version of this vehicle is in high demand - and with good reason; it is one of the slowest-depreciating cars available today.

The Taycan has proved to be a smart choice for those seeking a solid long-term investment that will hold its value over time.

As you would expect from any Porsche, the Taycan has been engineered with luxury materials that are lightweight and durable, ensuring maximum driving efficiency. The Taycan’s eye-catching design and impressive performance make it worth a second look for anyone seeking a fun, sporty SUV.

Furthermore, the state-of-the-art all-wheel-drive system provides excellent traction, meaning it can tackle any terrain with ease.

Lotus Emira

 

Retained value: 67.57%

Average retained value: £52,700

The Lotus Emira marks a bold new era of electrification for this British sports car brand. Since its inception, the Lotus Emira has been well received by consumers due to its slow rate of depreciation and high-performance features.

The exterior design is sleek, with smooth lines, a long hood and wide roofline, giving it an aggressive yet sophisticated look. Inside, drivers can enjoy premium touches such as leather upholstery, carbon fibre detailing - and a multimedia system that allows for easy access to navigation services and connectivity.

The Lotus Emira offers a great range of features that cater to all types of drivers. It can reach 0–60 mph in just 3.9 seconds, whilst also offering an impressive fuel economy rating of 49–50 miles per gallon. There are also many excellent safety features, such as adaptive cruise control, rear cross-traffic alert - and rain-sensing wipers.

Porsche 911

 

Retained value: 67.56%

Average retained value: £88,042

The Porsche 911 has a long-standing reputation for performance, reliability and quality construction, making it an ideal choice for buyers looking for a sporty ride that holds it value. With a wide range of styles on offer, there’s something to suit everyone – from coupe variants to convertible versions - and even a turbocharged version with uprated power.

The 911’s bold design, performance and kerb appeal have all helped to make it one of the slowest-depreciating supercars on the market.

Porsche's signature flat-six engine has been refined over the decades, resulting in excellent fuel efficiency without compromising on power delivery or driving dynamics. None of this comes at the cost of reliability; stay on top of the servicing schedule and it shouldn't be too expensive to maintain, either.

MG4 EV

 

Retained value: 66.49%

Average retained value: £19,050

The new MG4 EV is a well-built, roomy car that offers an advanced electric range for budget-minded drivers. In recent years, MG has been reborn as a Chinese-owned brand with a focus on producing efficient, cost-effective electric cars. The MG4 EV comes at a surprisingly affordable price point (starting from just £25,940).

MG offers a generous 281-mile range with the larger-battery versions of the MG4. With its low price tag and long battery life, you can expect minimal depreciation over time, providing more bang for your buck.

Drivers can appreciate the sleek design of this vehicle, which also offers a roomy interior that can comfortably accommodate five adults. The exterior includes sleek lines and bold colours that are sure to catch the eye of any onlooker. This makes for a stylish yet practical ride for those who enjoy driving around town or taking long motorway trips with friends and family.