Top Selling Cars in NZ And Their Resale Value

If you are looking to buy a car, you might wonder which models have the highest resale value. Because it’s an essential factor for the future when you resell your vehicle. Vehicles that have high fuel efficiency and minimal maintenance issues are the most popular and commonly used worldwide. Whether you are buying, selling, or even scrapping a vehicle, understanding its resale value is essential.

Top Selling Cars in New Zealand

According to recent data, these are the top-selling car models in New Zealand, along with their resale values and ages for scrapping.

Car Make & Model	Average Resale Value (NZD)	Typical Age When Scrapped
Toyota RAV4	$30,500	10–15 years
Ford Ranger	$55,000	8–12 years
Mitsubishi ASX	$22,500	7–12 years
Toyota Hilux	$33,000	10–15 years
Suzuki Swift	$12,000	10–15 years
Mitsubishi Triton	$34,000	8–12 years
Honda CR-V	$15,800	7–12 years

Insights:

• Cars like the Toyota Hilux, and Suzuki Swift retain high value due to reliability & high demand in the market.
• SUVs, such as the Mitsubishi ASX, tend to have average resale value, while the Honda CR-V have strong resale. Both are valuable and are popular among families and urban drivers due to their compact size and practicality.

Why Resale Value Matters?

Resale value is the price a car fetches when sold privately, traded in, or sold to a dealer. Almost every person, when they are buying a vehicle, considers resale value as a primary factor that can affect:

• Insurance & Trade-In Options: A higher resale value means you will get more back when you upgrade it.
• Investment Return: Some cars retain their value exceptionally well, which is important for people who regularly buy and sell cars.
• Maximising Profit: Understanding the resale value provides a target to aim for and helps you negotiate the best price, whether you are trading in or selling privately. 

However, not every car maintains its resale value. Accident-damaged, older, or non-running cars lose their resale appeal. Fortunately, you can still sell vehicles that are not suitable for private sale to services like old car buyers. 

Factors That Affect Resale Value

Various factors affect the resale value of a vehicle.

1. Condition & Maintenance: Regular servicing and a clean car improve resale value.
2. Mileage & Age: Older cars and those with higher mileage tend to have lower resale value. However, specific popular models can retain better value than newer, less popular cars.
3. Popularity of Brand & Model: High-demand cars, such as Ford Ranger and Toyota Hilux, generally retain higher value.
4. Market Trend: Eco-friendly technology, Fuel efficiency, and the demand for hybrid or electric cars affect resale value.
5. Accident and Vehicle History: Cars with a clean history tend to sell better privately, while those involved in accidents are more suited for buyers who specialise in damaged or junk cars.
6. Modifications: Most modifications can decrease market value.
7. Fuel Efficiency: With continuously increasing fuel prices, cars that are more fuel-efficient, including hybrid and EVs, are increasingly in demand, which enhances their value.
8. Colour & Features: Popular standard colours are generally more desirable. Similarly, desirable features such as modern technology and a high-quality sound system can boost value.
9. Market & Timing: The timing of your sale can significantly impact the price, as demand can vary throughout the year.

What Happened to Cars When They Became Unroadworthy?

When the vehicle reaches the end of its life, it doesn’t mean it’s worthless. You have multiple options:

Selling Privately: It can be time-consuming and challenging for non-roadworthy, damaged or old cars.

Trading in at a dealership: Often offers a lower payout as compared to car’s scrap value.

Selling to a Car Removal Service: Offers instant cash for cars, quick removal, and eco-friendly disposal.

Which Cars Hold the Best Resale and Scrap Value

Not all cars have the same resale value. In New Zealand, vehicles such as the Toyota RAV4 and Honda models tend to have high resale values due to reliability, popularity and high demand.

On the other hand, the Toyota Corolla, Ford, and specific Honda models have significant scrap value due to high demand for their parts, which remain steady.

Even when a car’s resale price decreases with age, models that have a high demand for parts or scrap can still yeild a reasonable return, making them worth selling instead of leaving unused.

Tips to Maximise Your Car’s Final Value

Even if your car is old or damaged, it still has value. Here are the ways to get the most value before selling or scrapping it:

• Minor Repairs: If you’re selling your car to private buyers, then small fixes such as replacing broken lights and repairing minor dents can improve its resale value.
• Know When To Scrap: If your car is beyond repair or not roadworthy, then there is no need to make repairs.
• Check Valuable Parts: Tires, Batteries and Catalytic Converters can hold significant value. 
• Documentation: Service history, ownership papers make selling smoother.
• Cleaning: First impressions matter. Even in vehicles, take the time and clean your car from inside and outside to maximise it’s value.