Many car buyers are aware that their car loses money the second they drive it off the forecourt, or actually as soon as it is first registered, but were you aware that on average it loses up to 17% within its first year. This figure is based on a car with average miles so if you have done more than average then you can expect the loss to be even greater.
There are some cars that seem to depreciate in value quicker than others, for example, the Jaguar XK loses nearly 30% of its value within the first year which is around £20,000 – £25,000. The Mini Cooper although popular especially amongst the younger drivers also loses nearly 30% of its value within the first 12 months of ownership, meaning when you come to sell it you will struggle to get something of that you may have believed to be of similar value.