If your car passes its M.O.T. first time, you will probably be rather relieved. But either way it’s probably bad news. Cars almost all lose extra money – compare to their average depreciation - when they hit M.O.T. age (3 years old).
Which is bad news if you were thinking of selling soon - you should have done it 6 months ago. But there are always two sides to every deal and if you are in the market for a 2.5 – 3 year old car, then my advice is to buy the 3 year old model and save yourself hundreds of pounds in depreciation.
Here are three examples where buying that little bit later saves you a worthwhile lump of money:
Mazda 6
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A large family car that feels like a sports car to drive. it gives the kind of driver satisfaction you expect from a Audi for less money. But that shows slightly in trim quality.
Most economical: 2.2 D
Best used buy: 2.0 P
UsedCarExpert.com fault checks: 12
Used Car Expert price guide: The Mazda 6 usually loses around 13% a year to depreciation, but at MOT time can lose nearly 30% so a 3 year old car with a full MOT for £8,000 is a bargain for the buyer.
Hyundai Matrix
Overlooked compact people mover which is practical and easy to own. Not great engines but otherwise comfy and spacious which are both major plus points.
Most economical: 1.5 TD
Best used buy: 1.8 CDX
UsedCarExpert.com fault checks: 6
Used Car Expert price guide: These are cars that you can buy to own for along time as the deprecation can drop to low single figures once the painful early years are done. Year 2 and 3 can knock 25% and 20% off the value respectively making the 3 year old models a snip at £5,000 or less.
Toyota Avensis
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Regarded as better looking than the older model but having lost none of its strengths: build quality, reliability, careful owners (until they reach mini-cab age). An excellent all-rounder.
Most economical: 2.0D
Best used buy: 2.0D
UsedCarExpert.com fault checks: 14
Used Car Expert price guide: The Avensis usually loses something in the high teens every year to depreciation and peaks at MOT time at anything from19-28% depending on the engine. So this car is always heavy in depreciation terms, but if you must have one buy after the MOT for under £9,000.