UK drivers of 5 cars including Audi and Ford 'could sell for £1,274 above value'

While the typical British car depreciates annually irrespective of mileage, fresh research has revealed that particular models are defying expectations - fetching considerably more than their projected value thanks to robust market demand. Depreciation continues to represent the largest expense of vehicle ownership, averaging £3,851 annually - approximately 9.17% per year - with total running costs including tax and servicing reaching an average of £5,027 yearly, according to Carwow's new figures. Nevertheless, Carwow's internal transaction data indicates that certain vehicles are presently exceeding forecasts, enabling owners to command premium prices. Ford Fiesta ST – Topping the list, this hot hatch is achieving prices 32% above its predicted value, netting sellers an average of £1,062 extra. Ford Mondeo and Alfa Romeo Giulietta – Both are commanding 29% above their estimated worth, highlighting continued appetite for these particular variants. Peugeot 3008 – This well-liked family SUV is fetching 28% beyond expectations, delivering approximately £651 additional value on average. Audi A5 Sportback – The prestige factor remains potent, with this model securing 25% above valuation, equating to roughly £1,274 extra. Despite these impressive resale prospects, numerous motorists remain hesitant to part with their vehicles, according to Carwow. Over a quarter (27%) expressed concern about securing a fair price, while 25% cited emotional attachment as their barrier. An additional 8% were discouraged by the anticipated inconvenience of the selling process. Carwow noted this reluctance "comes at a time when many cars remain unused". With approximately 1.9 million vehicles across the UK thought to be sitting largely idle, owners may be squandering the opportunity to benefit from robust demand for certain models, it suggested. Iain Reid, global director of content at Carwow, commented: "Many drivers assume their car only costs money when they use it. In reality, the highest cost is depreciation, and that happens whether the car is on the road or not. For drivers with newer or higher-value cars, that can mean losing thousands of pounds each year, even if the car is rarely used. "If a car isn't being used regularly, it's worth thinking about whether it still makes financial sense to keep it. If you are thinking about what to do with a vehicle that you don't drive much, declaring it as SORN can reduce some costs like tax and insurance. "However, a SORNed vehicle cannot be driven on public roads, which can make it less attractive to potential buyers and may complicate a private sale. "To get the most out of their vehicle, drivers should take a strategic approach by presenting the car in top condition, providing full documentation and service history, and researching comparable listings to price it competitively. Selling a stationary car not only frees up cash but also ensures it is back on the road with someone who will use it rather than continuing to cost money while it sits idle."