A Whole Lot Of Car For Half The Cost

With pre-owned car prices undergoing a bit of a readjustment recently, thanks to a consequence of the surging used car prices and demand outstripping supply during the pandemic, the resulting fall in values mean there are some comparative bargains to be had. Residual values and depreciation is usually compared against one another after a vehicle is 3 years old and has covered 36,000 miles to see what percentage of their value they have lost over that time. However, some of the more expensive new cars are seeing 50% of their value or more lost over a shorter period of time. Some that may lose their value a bit slower, due to their desirability, are still a irresistible prospect once they are half as expensive as they used to be when they were brand new.

So with that in mind, what cars can be found on the used car market that now cost just half the amount as they did when they were brand new. From luxury grand touring coupes to electric SUV’s and even supercars, you might be surprised to see which models may now be within budget that you have always dreamed of owning. Here is our rundown of some of the most desirable cars on the road that are now perfect for those looking to purchase a lot of car for comparatively not a lot of money.

BMW M8 Competition

The BMW M8 Competition is the brand’s flagship grand tourer offering the upmost in luxury and refinement whilst providing enough power and performance to worry plenty of supercars. With a 4.4-litre twin-turbocharged V8 engine, the M8 utilises 625bhp and an xDrive four-wheel drive system to enable this large comfortable coupe to accelerate from 0-62mph in just 3.2 seconds.

The base price starts at £140,000, yet specifying the M Driver’s pack, some carbon fibre trim, some BMW Exclusive paint colour, and ceramic brakes can make the M8 more like £160,000. If the average price of an M8 is around £150,000, a quick Auto Trader search will see more than 20 examples currently for sale and many of those for sale at more than half of the list price (July 2024). Some examples are less than 3 years old and have covered just over 10,000 miles since new as well as being 1 owner cars.

With standard features such as Adaptive LED headlights, Harman Kardon surround sound, a Head up display, Adaptive suspension and a carbon fibre roof, the M8 Competition has everything you would need as well as the finest Merino leather and latest technology and assist systems. A lot of car for the money, especially when you consider that their ‘entry level’ performance coupe, the M2, can easily also cost in the region of £75,000 with a few optional extras selected.

Maserati Quattroporte

Maserati may be a desirable brand for many, however they are frequently featured in Top 10 lists for the fastest depreciating cars. Not helped by the fact they sell in limited numbers and historically have a reputation for a lack of reliability that rivals the Alfa Romeo brand reputation, the famous trident marque can present a comparative steal for a pre-owned model when compared to the price it was new.

The Quattroporte is one of the most stylish four-door saloons money can buy, with one of the most sumptuous and luxurious interiors too. The blend of the finest Italian leathers and stylish veneers mixed with the sound of that Maserati V8 engine is as iconic as they come.  It is a recipe that has changed little since the model’s introduction in 1963 and is one that tempts buyers back to the Maserati brand time and time again.

A Maserati Quattoporte starts at approximately £80,000 for the entry level model and rises to around £144,000 for the V8 Trofeo iteration, and that is before you have delved into the bespoke world of their Fuoriserie personalisation programme. Have a browse on Auto Trader and you will find examples of 2022 models starting from just £62,500 for the base GT and just over £65,000 for a mid-range Modena example of a 2023 car with less than 10,000 miles covered. A particular example of the latter that was currently for sale came with £17,000 worth of optional extras, making it less than half its original £132,000 list price. A very tempting prospect of a stunning prestige saloon from one of Italy’s most famous manufacturers.

Polestar 2

One of the sectors with the biggest drops in residual values are electric cars. Price reductions on new models to try and tempt private buyers combined with ex-business lease vehicles flooding the market, and the demand for electric cars not being as strong as it once was, means that the pre-owned electric cars can be a great place to find a comparative bargain.

The Polestar brand is one of the most highly regarded of the electric car market, and one of the most likely to compete with Tesla in terms of sales figures as well as performance and desirability. The Polestar 2 is becoming more and more of a familiar sight on the roads and is one of the Tesla Model 3’s greatest rivals. Slumps in sales across the electric vehicle sector and delivery delays for many manufacturers has meant that the pre-owned prices have taken a bit more of a hit than others, making prices very tempting indeed.

The Polestar 2 range starts at £45,000, with the desirable Long Range Dual Motor model starting at just under £48,000. Examples of the mid-range Long Range Single Motor Polestar 2 model are abundant on Auto Trader, with prices starting at a more than reasonable £22,000 even with below average mileage, and easily more than a 50% reduction of the original list price of the car. Even the Long Range Dual Motor ‘Performance’ model with sports car rivalling pace, adjustable suspension, Brembo performance braking and sharper styling can be found for around £25,000 for a late 2021 model, a fantastic example of one of the best electric saloons money can buy for half of what it cost when it was brand new.

BMW 7-Series

The flagship executive BMW 7-series saloon is one of the finest and most luxurious cars money can buy. Any car that shares its platform and 20% of its parts with the Rolls Royce Ghost is certainly going to be a great place to start. The blend of comfort and refinement, an abundance of the very latest technology and driver assistance systems and the ability to have huge amounts of power means it could very well be the perfect car for all situations. With the latest model taking the concept further than ever before, how does the previous generation look as a pre-owned prospect.

The least expensive way into the 7-Series range from new starts at just over £70,000 for the 730d and rises to the most powerful long wheelbase version in the 760Li xDrive at very nearly double the price. With an extensive list of optional features to make your 7-Series even more impressive and even more capable of providing the most luxurious and sumptuous driving experience, many vehicles’ on the road cost are considerably more than their starting price would suggest.

As usual with large executive cars, the residual values suffer when it comes to the standard 3 years or 36,000 miles of ownership. An Auto Trader search shows that a 2021 car that has covered around 20k miles starts at just under £35,000, a considerable drop in value in barely 3 years, whilst the top of the range 760Li does not appear at all. Maybe owners like them too much so are holding on to them, or they’re to afraid to see how much of the value has been lost. Either way, as a pre-owned car that is filled with technology and offers a sumptuous ride yet with a dynamic drive, the 7-Series is a fantastic used buy for those looking for the finer and more comfortable things in life.

McLaren 720S

The McLaren 720S is widely considered as the finest car that has come out of the McLaren Technology Centre over the years. Blisteringly quick in a straight line or round a racetrack, futuristic looks unlike anything else on the road and the all-important butterfly doors for the ultimate supercar accessory. The 4.0-litre twin-turbocharged V8 engine produces 710bhp (720PS) meaning 0-62mph in just 2.8 seconds and 100mph achieved in just 5.3 seconds, and it doesn’t stop accelerating until you are doing in excess of 210mph.

On sale since 2017, the 720S still looks as modern as when it was first launched and despite being replaced by the refreshed 750S, it is still as impressive as it has always been. Prices started at around £230,000 when new however, the extensive options list and enthusiastic buyers mean that most cost nearer the £300,000 mark by the time the customers had taken delivery. From carbon fibre extras to custom interior colours, fancy paintwork options, racing exhaust systems and electrochromic Gorilla Glass roof panel options, as well as a whole suite of bespoke possibilities on offer from McLaren Special Operations (or MSO), the 720S could be made exactly the way you wanted.

On Auto Trader, 720S prices start as low as £110,000, just under half of the base price of the car, however there were as many as 11 examples under £130,000 and packed with optional extras and bespoke features. The reputation for reliability of the electrical systems might not be the strongest for the brand, but you can’t deny that you would struggle to find anything as impressive in so many aspects for the same money, or something that would put such a big smile on your face when you experience the relentless feel of the acceleration.

Aston Martin DB11

The DB11 was a ground-breaking car for the iconic British brand. A step in the right direction in terms of modern design and styling, and a real focus on the future ambitions of the company. Historically many borrowed parts and hand-me-down technologies, chassis or engines made the backbones of an Aston Martin, however the DB11 was different. It may have sourced Mercedes Benz technology and engines, but that just meant they now work much better than they used to. It also proved reliable yet impressive in performance, everything else was entirely new and it showed. The styling and engineering were bang up to date and were a significant starting point to the new direction for the brand.

The DB11 continues to look elegant and sophisticated, and the appearance has dated well compared to some of its rivals. As far as grand touring goes, you would struggle to look as cool or enjoy something as dynamic as how much the DB11 offers in abundance. Whether you opt for the V12 or the AMG sourced V8, the driving experience and performance is impressive and rewarding for a big luxurious car.

The DB11 V8 when bought from new started at £153,000 and the V12 started at around £180,000 before options. The larger engine choice, thanks to running costs and fuel efficiency, sees the biggest drop in residual value and can be sourced for under £70,000 for an 2017 car with around 30k miles covered. In fact, both engine choices feature in the 22 examples found under £75,000, a huge saving over the list price for a very impressive vehicle.

Jaguar I-Pace

The Jaguar I-Pace won multiple awards when it was launched as Jaguar’s first foray into the electric vehicle market. It gained fans thanks to the combination of futuristic design, practicality, and functionality as well as the fact it offered credible range, fast charging capabilities and drove like a Jaguar should with performance to match.

Reputation and reliability issues have affected the model’s desirability however, and the price cuts of many electric car manufacturers have meant that the I-Pace is not the exciting prospect it once was. When it was launched it was like nothing else and was enough of a departure from other electric cars that it was enough to tempt combustion engine fans to switch allegiances. These days however its competitors have done a lot of catching up and the once futuristic Jaguar is starting to look a little dated when compared to its more modern rivals.

This shows a lot with the residual values of pre-owned examples. The I-Pace range starts at just under £70,000 and rises to just under £80,000 depending on the model before any options are selected. Taking the average of the range as £75,000, there were over 100 examples of I-Paces that were 2022 models or newer below the 50% value of £37,500. That is a huge depreciation after 18-24 months of ownership. But if you are looking for a great value all-electric used car prospect, the I-Pace could certainly be a worthy option to consider.

Mercedes Benz EQC

The electric car high depreciation levels continue with another popular model from an established manufacturer, the Mercedes Benz EQC. The mid-size electric SUV equivalent to the popular GLC is a tempting prospect for car buyers of all ages and demands. With styling that looks relatively ‘familiar’ to the Mercedes brand, options that customers already understand and specification levels that fit in line with the rest of the line up, as well as capable performance and range, the EQC is a popular choice amongst electric car buyers.

Mercedes have been quick to add electric options of their most familiar models across the range and as such have become a viable choice for those looking to make the switch from combustion power. Together with BMW they have one of the most comprehensive ranges of electric, hybrid and combustion engine vehicles across their complete range of bodystyles and vehicle types. The electric car market as a whole however, and the fall in demand that it is seeing, has meant that they have also suffered from poor residual values like many other manufacturers.

The Mercedes EQC range starts at £65,000 and rises to approximately £81,000 before any additional trim levels or optional extras have been selected, meaning an average for the EQC range of around £73,000. On Auto Trader, a well-equipped 2022 EQC ‘AMG Line Premium Plus’ starts at just £34,000 with less than 10k miles covered, more than half the list price of the car when new. The familiarity of the brand and the proven technology technology that you can expect from a Mercedes Benz means that the EQC is one of the best examples of a compact SUV currently on the market.

Tesla Model 3

The last of the electric car models in this list and the most popular brand to emerge since the car industry began to shift its power source. The Tesla brand has become a sales phenomenon and have driven the adoption of electric-only motoring more than any other manufacturer. The Model 3 is their least expensive way into the range and is arguably the most ‘normal’ offering that feels, looks and drives like a regular saloon car, but in a good way.

Despite this, the fall in demand for Tesla products has been well documented thanks to their position as the market leaders, with numerous price cuts and fall in production numbers announced to the press over the past 12 months. Whilst the reductions are good news for those about to purchase a Tesla, for those who have just taken delivery or currently own one it means they can easily find themselves in negative equity and struggle to then change their cars without the prospect of losing money.

For those looking to purchase a pre-owned Model 3 however, this has meant that it is more affordable than ever and can equate to a considerable saving over a new vehicle. The Tesla Model 3 range starts at just under £40,000 and rises to around £50,000, depending on the trim, power and battery range. A 2021 Tesla Model 3 starts at just £20,000 on Auto Trader, with a desirable Dual Motor Long Range iteration starting at just £21,500. A lot of electric cars entering the used car market are thanks to business users taking advantage of tax breaks and the 2- or 3-year leases they had expiring, meaning the second-hand market is flooded with the resulting pre-owned vehicles. Not only does this mean there is a large selection to choose from, but ones that have been maintained on schedule and often with less than average mileage.

BMW X5

The BMW X5 has been a huge success for the company, with 4 generations and more than 2 million sold since it was released way back in 1999. The SUV market has become increasingly crowded since that first venture into the sector for the brand, yet the X5 has remained one of the very best and is more accomplished and refined than ever before.

With the X5 being such a popular vehicle, BMW have ensured that they cover all basis with the trim and engine levels on offer. The entry point into the range is the xDrive30d priced at around £70,000, whilst the top of the range X5M Competition has over 610bhp on offer and despite weighing over 2.3 tonnes can accelerate from 0-62mph in less than 4 seconds for just under £120,000. Again, optional extras and upgraded specification can see the price rise to £150,000 and beyond.

Understandably that also means there is a lot of choice when it comes to finding a pre-owned vehicle. For a 2021, not quite 3-year-old car, the xDrive30d starts at just £33,995, more than 50% less than when brand new. The X5M Competition can also be found with around 30k miles covered and a 2021 model for approximately £62,000, not exactly a bargain but a considerable saving compared to the new price and an undeniably capable and impressive vehicle for the money.

Range Rover & Range Rover Sport

A bonus entry to the list yet one that has been talked about both in the motoring press but also around the Oracle Car Finance offices recently. The Range Rover and Range Rover Sport remain the kings of the hill, quite literally, when it comes to capable yet luxurious off-road vehicles that can also perform on the road. Their popularity and demand however seem to also have attracted an unwanted spate of thefts, especially in major cities across the country. As a result, whilst the insurance premiums for most of us have risen steadily over the past couple of years, for Range Rover owners it had risen quite dramatically.

This has meant that for many owners, especially those who live or work in a big city, the only option is to look to sell their cars as they cannot afford to pay the extortionate insurance premiums quoted to them for annual cover. An increase in models arriving on the used market also means that supply is often greater than demand which means that Range Rover and Range Rover Sport prices have dropped more than most over the past few months. For potential buyers however, this could be a huge positive.

For those looking to purchase a pre-owned Range Rover or Range Rover Sport model, they will find that the current sale prices combined with the predicted residual values after a couple of years for a finance package quotation, means that for many people the models are more competitive and achievable than ever before. In fact, now could be the perfect time to see just how affordable a Range Rover product may be to finance, realising an achievable dream for many motorists.

This shows when searching on Auto Trader for used prices. A ‘full size’ Range Rover in 2021 had an entry level price of £83,000 for the base D300 model, rising to over £180,000 for the flagship Long Wheel Base SVAutobiography. That same 2021 model now on Auto Trader can now be found for just over £40,000 for the D300 Vogue model, whilst the rarity of the SVAutobiography means it fares a little better at just over £100,000 after 15k miles covered. Still, losing almost £80,000 in equity over 3 years isn’t exactly a win.

The same options for a Range Rover Sport in 2021 saw a base HSE model available for an entry price of just over £65,000, whilst the top of the range powerful SVR variation started at £115,000. The same 2021 models that are currently less than 3 years old are available starting at £34,000 for the HSE after 50k miles covered, yet the range topping SVR has dropped more than 50% in value and can now be found for as little as £53,000.

Oracle Car Finance

At Oracle Finance we have your vehicle funding sorted, no matter which kind it is or what age it may be. Our expert Account Managers use our panel of specialist lenders to help you to find the perfect package, bespoke to you and your circumstances. Our team are always on hand should you have any questions about arranging car finance and your dedicated Account Manager is ready to take your call today. Not only that, but our knowledge of the car market means we can offer advice regarding residual values or offer you a free valuation on your current car.