Staggeringly cheap cars

Dec 8 2009 Matt Tumbridge

Staggeringly cheap cars

STUDYING depreciation statistics usually reveals worthwhile, but not earth-shattering, savings by getting rid of a car a bit sooner, choosing a different engine, that kind of thing. Every now and then however a massive opportunity pops up.

It is hard to know who Renault, Volkswagen and Honda had in mind when they built these cars, perhaps it was tremendous long-term thinking; perhaps they felt that the British public needed high quality luxury saloons with enormous petrol engines very cheaply. The only way to do that of course is to create a wildly over-priced uneconomical new car and wait. Until now, and now we can all go out and buy:

VW Phaeton

VW luxury can be a bit tame in comparison to the indulgent interior of the BMW or Lexus. This is however a high quality saloon that can doesn't draw unwanted attention to its owner and will leave you feeling fresh at the end of a long journey.

Most economical: 3.2 V6

New price: Approx £44,165

Used Car Expert magazine guide price: A 2003 year car with 50,000 average miles is now around £11,000. 25% of new price.

Honda Legend

A luxury saloon that thinks it is a sports car - handling that puts other luxury cars to shame. Only a small seller, yet very soft prices. It just keeps getting better...

Most economical: 3.5-litre petrol

New price: Approx £39,000

Used Car Expert magazine guide price: A 2006 year car with 37,500 average miles will be around £14,500. 35% of new price.

Renault Vel Satis

A nice try at producing a different executive car but it is too different and that explains the massive depreciation. So cheap to buy. Spacious comfy and different.

Most economical: 2.2 TD

New price: Approx £31,000

Used Car Expert magazine guide price: A 2003 year car with 50,000 average miles will be just £5,000 (when you can find a reliable one). 17% of new price.