CarSwitch, a UAE-based company that sells your car for you to prospective buyers, reveals that the models with the best resale value after 1 year of purchase. Based on their transaction data, the cars that depreciated the least were the usual suspects.
The Nissan Patrol is in first place, as it apparently retains 85-88% of its value after the first full year of use, which is considerably higher than the overall average of about 80%. The Lexus IS and Toyota Land Cruiser closely follow. The remaining top spots are occupied by popular mass-market sedans — the Toyota Camry, Nissan Sentra, and Honda Accord. Finally at number 7, is the Ford Edge, the only non-Japanese brand to make it on their list. In an earlier report late last year, the Toyota FJ Cruiser was also on the list, but seems to have dropped out this time around.
Imad Hammad, the co-founder & CEO of CarSwitch.com, added “many factors impact used car prices, from supply and demand fundamentals to promotions on the price of the car new to the colour, specific features, and condition of the specific used car at hand. Our team has analysed thousands of data points to normalize for many of this, but even a burst in grey market imports naturally has a sudden impact on pricing.”
Carswitch adds that the UAE’s introduction of VAT next year will be another factor to impact value retention of used cars. So for residents looking to sell their cars it is not always a straightforward answer on best models or time to sell, though these reports certainly help shed some light.