Japanese car brands retain the most value with the Nissan Patrol topping the list, according to data from CarSwitch.com, which analysed the cars in the UAE that depreciate the least.
Japanese car brands retain the most value with the Nissan Patrol topping the list, according to data from CarSwitch.com, which analysed the cars in the UAE that depreciate the least.

Which cars retain the most value in the UAE?



Buying a car is one of the biggest financial decisions you’ll make, second only to investing in property, and the right choice can help you save thousands.

But unlike houses, cars do not appreciate in value, but begin depreciating the moment you drive them out of the showroom. According to CarSwitch.com. a UAE platform for buying and selling certified used cars, a new motor can depreciate by more than Dh20,000 as soon as you take it home. In fact, the company estimates that depreciation accounts for over 60 per cent of the annual cost of owning a car.

So which cars depreciate the least?

Using data from 2,500 sellers on its site, the company analysed the value of a car when it was new, the current year, the model and the selling price. Using that information, it then found the average for how much each model had depreciated. The top five cars for retaining their value in the UAE are:

1. Nissan Patrol

2. Honda Accord

3. Ford Edge

4. Toyota Camry

5. Toyota Land Cruiser

* Top 10 list is in the picture above.

What CarSwitch.com found in its research is that depreciation is a bigger deal in the UAE than in other markets. On average, residents here drive their new cars for five years, while owners in the UK and US hang onto their cars for more than seven and 11 years, respectively.

Another interesting element from the research is that resale values differ between brands, with a car’s depreciation rate varying between 30 per cent and 50 per cent after three years. But it appears you won’t go wrong with Japanese-made motors.

Most of the cars on the top 10 list were Japanese makes with the Nissan Patrol LE Platinum topping the list by retaining the most value. A 2013 Patrol bought for around Dh230,000 is worth around Dh170,000 today — that’s a value retention of about 75 per cent.

No German cars made it to CarSwitch’s top 10 list and the Ford Edge is the only American car to make it with a retention value of 65-70 per cent.

Five tips for beating depreciation:

Don't buy new

Cars lose about 1.5 times more value in the first year compared to subsequent years. While a car will lose 20 per cent of its value in the first years, the depreciate rate falls to 10 — 15 per cent after that. So, it make financial sense to buy a one to two-year-old car to skip the initial loss.

Mileage isn't an issue

In the UAE, cars cover 20,000 kilometres per year on average. However, your car’s age plays a bigger role in determining its value than its mileage. For example, a 2013 Nissan Patrol with 100,000km has approximately the same value as a 2012 Nissan Patrol with 60,000km. So, drive your car as much as you need to.

A car's condition is key

After age, the condition (accidents, service history etc) the car is in is the next biggest determinant of a car’s value. CarSwitch says it sold a 2014 Hyundai Santa Fe for Dh50,000 and another for Dh60,000 because of the difference in the condition of the cars. So if you are about to sell, enhance its value with some cosmetic repairs and a good clean.

Only buy a fully inspected car

If you are buying second-hand, make sure that you haven’t overlooked a major fault. Get the car fully inspected by a dealership or one of the local garages.

Hang onto your car for longer

If you car is in good condition, keep it as long as you can. By trading up after a few years you begin the depreciation cycle all over again.

arayer@thenational.ae

Ferrari

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Starring: Adam Driver, Penelope Cruz, Shailene Woodley, Patrick Dempsey

Rating: 3/5

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Source: Emirates

Roll of Honour, men’s domestic rugby season

West Asia Premiership
Champions: Dubai Tigers
Runners up: Bahrain

UAE Premiership
Champions: Jebel Ali Dragons
Runners up: Dubai Hurricanes

UAE Division 1
Champions: Dubai Sharks
Runners up: Abu Dhabi Harlequins II

UAE Division 2
Champions: Dubai Tigers III
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Stars:Robert Pattinson

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Rating: 5/5

Our legal consultant

Name: Dr Hassan Mohsen Elhais

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Rating: 2/5

The specs

Engine: two permanent magnet synchronous motors
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Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

Scoreline

Saudi Arabia 1-0 Japan

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Final: Beat Jasmine Paolini 6-2, 6-2


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