Used cars that will lose you the most money in 2023

Car brokerThe car broker industry is one that many struggle to understand. Fortunately, our company exists to offer a helping hand. We can explain how it works and aid you in establishing your own broking business. Our team does understand that everyone’s needs differ here. So, we offer flexibility and no restrictions.

The used cars that have fallen the most in value compared to 2022 have recently been revealed. Auto Trader’s most recent Retail Price Index February update reveals that five of the leading six second-hand decliners are electric models. Some of these have fallen in price by as high as a fifth during the previous year.

What we want to do is take a closer look at the vehicles that have lost the most value according to the data. Then, if you have any interest in becoming a car broker, contact our team.

Jaguar I-Pace

Starting with the Jaguar I-Pace, it launched back in 2018. Despite the brand’s promise to turn into an electric-only luxury car manufacturer from 2025, this is still its only electric car. It comes with a total driving range of 292 miles. Used prices reduced 21.8% year-on-year. Average prices are now £42,989.

Volkswagen ID.3.

If you are after a family hatchback possessing a VW badge, you can choose this. Battery range comes down to size. Official distances between charges are 200 miles to a considerable 340 miles. Even though it is still somewhat expensive on the used market, second-hand prices have reduced to £30,711.

Tesla Model 3

Second-hand Tesla car values have fallen thanks to the brand’s choice to slash new prices earlier in 2023. A drop in demand for the EV is influencing values as well. It has taken its toll on the Model 3, the most popular car. The average used price here is £35,603.

Audi e-tron

With the Audi e-tron, it suffered a big 16% drop in used prices. Despite this, the average price remains in excess of £47,000. The model is still Audi’s flagship electric SUV. It provides a maximum ‘official’ driving range between 292 to 321 miles. That depends on the spec.

Hyundai ix35

Here we have a model that is not actually available as a new car in Hyundai dealerships anymore. The Tucson is its replacement. It isn’t the most exciting crossover in existence. But, it is highly practical, and has a very respectable build quality. Its average second-hand price has dropped to £7,065.

Tesla Model S

This is the car responsible for putting the brand on the map in the UK. But, even when you are buying used, they’re not cheap. We’ve had the car available to us since 2014. As a result, there are numerous examples on the second-hand market. It could be a contributing figure to why values are going down. The average price is £40,500.

Vauxhall Mokka

The current generation Mokka is sold together with an electric Mokka-e variant. However, the average used values for Auto Trader’s data are based on the first generation combustion engine model. Sellers want a mere £11,717 for them on average.

Audi SQ5

Given what is on offer you would think the SQ5 car would be high in demand. But, it is powered by a mighty V6 diesel. This could explain why demands have gone down as people move away from the fuel. Its average price is £31,911.

Let us help you to become a car broker

At Auto Car Brokers, we do everything we can to help clients start their own broker journey. This includes supplying a full business package. What we have here is a comprehensive suite of modules that will supply you with everything to set things up. We then offer ongoing support and periodic free updates of the materials.

So, if you’d like to know more about being a car broker, feel free to get in touch. You can also browse our website to learn more about the potential rewards and more.