Used cars are actually going up in price each year – new study shows by how much

Published on 14 December, 2022

Overview

The average used car in Ireland has increased in value by 8pc in the past year alone, a new study has found.

According to vehicle data expert Cartell.ie and car sales platform CarsIreland.ie, instead of depreciating, as has been common until recently, most vehicles have increased in price in the past year. 

They based their valuations on the retail prices of 5,000 vehicles in November 2020, and assuming average mileage, used this as a control to test the value of each of the same vehicles in 2021 and last year by running all three years through the Cartell Price Guide (CPG). The results show that, on average, the year-on-year increase stands at 7.78pc.

Examples include:

l A 161-reg Volkswagen Passat 1.6 diesel worth €14,900 in 2020, €17,200 in 2021, and €19,500 in 2022.

l A 2011 Toyota Corolla 1.4 diesel – €5,000, €5,950, €5,550. 

l A 2011 Ford Focus 1.6 diesel – €3,950, €5,350, €5,550.

l An 181-reg Renault Captur 1.5 diesel: €15,850, €16,950, €18,400.

l An 08 Opel Corsa, 1.2 petrol: €1,650, €2,050, €2,450.