The value of Ford Mondeos has soared along with Vauxhall Corsas and Renault Meganes – as second-hand cars have out-performed the stock market and the price of gold.
The cost of the second-hand Corsa shot up 93 per cent in the past four years – with a study by Auto Trader finding that the humble make – first on the market in 1993 and selling just over two million in the UK since – was top of the league for modest motors.
They found that the price of the cars had easily out-performed the price of property and the FTSE over the past four years.
The cost of the average second-hand Corsa has soared from £1,136 since 2019 to a whopping £2,197 now.
In the same time, gold has risen in value by 21 per cent, UK homes by 24 per cent, and the FTSE by a measly three per cent.
The value of Ford Mondeos has soared along with Vauxhall Corsas and Renault Meganes – as second-hand cars have out-performed the stock market and the price of gold (File image)
The cost of the second-hand Vauxhall Corsa shot up 93 per cent in the past four years (File image)
Corsa owner Andy Fitzgerald, 43, of St Albans, Herts, said his 2002 model had 120,000 miles on the clock but was still going strong.
The garage owner said: ‘I love my little Corsa, but if someone offered me two grand for it, I’d bite their hands off.’
A spokesman for Auto Trader said: ‘Vauxhall Corsa owners could be sitting on a goldmine, with the model increasing in value by 93% over the past four years.
‘This rate of growth is significantly higher than other assets, with prices for gold increasing by 21%, the average UK house price increasing by 24% and the value of the FTSE 100 growing by only 3% in the same timeframe.’
Erin Baker, of Auto Trader, said: ‘While you might not think your car is old enough to be a classic, it may hold a hidden value – so don’t view it as another junk item.
‘Auto Trader’s completely free valuation service is used by millions of drivers across the UK.
‘Using only independent market data taken from millions of vehicles each day, it provides a totally unbiased valuation in minutes. It is the platform to find out what your car is really worth.’