Sitting on a goldmine? Your old car's value may have doubled without you knowing
The price of new cars has been shooting up recently, and many of us are choosing to stick with our trusty older cars for longer, because running them into the ground becomes a more favourable option than selling up and starting again.
But new research by online car marketplace giant Auto Trader has revealed that some of our old bangers might be worth more than we expect.
In fact, certain cars from the noughties have actually doubled in price.
Take the Vauxhall Corsa, for instance. A 2004 Vauxhall Corsa could be worth 94.4 percent more today than it was in 2019.
That means, if you'd bought this simple supermini for £1,136 before the pandemic, you could potentially sell it today for £2,197.
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And the Corsa isn't the only mainstream car from the 2000s to go up in price, either. Fords have shot up, Volkswagens are doing well, and even some Renaults could be worth more than you expect.
Auto Trader's editorial director Erin Baker explains: “Some nostalgia trends just leave you asking why? But there’s nothing confusing about the appeal of cars from the noughties.
"They’re simple, reliable, and remind working Brits of when they fell in love with driving.
"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 - save that disdain for your oversized circular belts and bootcut jeans.”
Auto Trader will give you a free valuation online, so it's well worth logging on here to see if your car is worth more than you expected
Here's a list of eight popular cars Auto Trader says have seen the largest increases in value.
1. Vauxhall Corsa - up by 94.4%
Average price in September 2019: £1,136, average price now £2,197
The Vauxhall Corsa "C", in this instance, succeeded the pretty and popular Corsa "B", and it brought big improvements, so it instantly became a huge sales success.
It's always been a great first car, it's spacious enough to be a solid family runabout, and its looks have aged remarkably well, so it remains a wise choice for buyers on a budget.
2. Vauxhall Astra - up by 86.9%
Average price in September 2019: £1,069, average price now £1,998
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This era of Astra is the Mk4, and it was a fine-looking thing, with sweet handling and plenty of space. It sold in droves, and they're becoming a rare sight now, but some versions, such as the Bertone-styled coupe, are assured future classic status.
3. Renault Megane - up by 80.4%
Average price in September 2019: £1,043, average price now £1,182
Launched in 2002, the Megane burst onto the scene at a time when most hatchbacks were starting to become rather dull. Who can forget that "shaking that ass" advert, which was perfectly pitched to champion the Megane's unusual rear end.
It still looks pretty sharp now, but electrical and mechanical gremlins haven't been kind to it, so its rarity might be behind its increase in value.
4. Ford Focus - up by 74.8%
Average price in September 2019: £1,066, average price now £1,863
The first generation Ford Focus was an absolute game-changer, but it had to be. It had to pick up where the Ford Escort, something of a national treasure, left off.
Superb handling, great interior space, and keen pricing made it the perfect all-rounder. And it still looks great today. To be honest, I'm surprised the value hasn't increased more.
5. Peugeot 307 - up by 71.4%
Average price in September 2019: £979, average price now £1,678
I don't think anyone would consider the 307 to be Peugeot's finest hour, but it did have a hard act to follow from its brilliant 306 predecessor. But strong demand for the sector, along with some tasty dealership deals, put it on a firm footing and it was a big success.
They're surprisingly solid, so it's no wonder they're still in demand.
6. Ford Mondeo - up by 48.8%
Average price in September 2019: £1,544, average price now £2,298
The nation almost shed a collective tear when the Mondeo was finally canned in 2022. A victim of changing tastes and a thirst for SUVs. But this era of Mondeo was arguably its best iteration.
Comfortable cabins, good road manners, excellent safety scores, and strong reliability made it a firm favourite. And they're still a great choice for a budget family workhorse now.
7. Ford Fiesta - up by 45.8%
Average price in September 2019: £1,171, average price now £1,707
The third Ford in this list, and another obvious future classic, the Fiesta might have been axed from Ford's line-up, but it's left quite a legacy.
This era of Fiesta saw big changes for the small hatchback, and not all of them were widely welcomed, but it was a huge success, largely thanks to its superb handling, spacious interior, and lively engines. Fast versions in mint condition are already starting to command silly prices, so the more mundane ones will doubtless continue to increase in value.
8. Volkswagen Golf - up by 37.8%
Average price in September 2019: £1,766, average price now £2,434
The MK4 Golf was solid, dependable, and reliable in its day and, even now, it still is. It's a sound choice for a used buy, even though it really hasn't aged all that well.
There's still a strong following for this era of Golf, which has helped keep used values strong. And, especially if you can find a good one, it could be a very sensible purchase.
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