Used car prices remain at record-high levels, even despite the impact of the cost-of-living crisis.

A combination of short supply of new models and encyclopedia-long dealer order books are pushing car buyers to the second-hand market – and there are some vehicles that are in such high demand that their average price is now over a third higher than it was this time last year.

This is Money has exclusively teamed up with cap hpi, which specialises in monitoring car values, to reveal the top 20 second-hand motors that are worth far more now than they were just 12 months ago. 

Used car prices have been on the rise since the pandemic. In fact, November 2022 was the 32nd consecutive month of year-on-year growth recorded by the industry-leading Auto Trader Retail Price Index.

With fewer new cars available as a result of parts supply shortages, buyers wanting to place orders for one are being told they will need to wait 12 months or longer for the factory to deliver the car.

Unable – or unwilling – to wait that long, more and more drivers have been switching their attention to the used market to get their hands on motors quickly. 

This wave of demand has created more competition and rapidly depleted available stock of second-hand cars. This has ultimately pushed average prices to unprecedented levels over the last two years.

Auto Trader says the average price of a used car advertised on its website last month had grown to £17,801. 

That’s £300 higher than the average in October and around £500 up on September. Compared to pre-Covid, prices are now 35 per cent higher, with the average used car in November 2019 valued at just £13,233 – that’s nearly £4,600 extra on the average spend for a second-hand motor.

To identify which models in particular have shot up in value, we asked experts to identify which cars are contributing to this huge jump in prices. 

While large diesel-engined SUVs have commonly declined significantly in the last year, according to our report from a few weeks ago, the biggest risers are a real mixtures of vehicles.

Listed in ascending order, the top 20 consists of less-expensive – and older – cars, early-generation electrified vehicles and particularly fuel-efficient small models. And their average price increases range from 14 per cent to a massive 36 per cent.

Here’s the top 20… 

20 USED CARS THAT HAVE RISEN MOST IN VALUE IN ONE YEAR

Below, we’ve ranked the biggest risers in terms of percentage increases in value, though we’ve also listed the monetary gains over the last 12 months to show the scale of the financial impact.

We’ve only included mainstream models that Britons are more likely to own and buy, rather than ultra-exclusive supercars and ridiculously expensive luxury motors, which are omitted from the analysis.

Prices have been supplied by cap hpi and are all based on trade values.

=18. Subaru Outback diesel (2015-2018) – UP 14%

If you’re looking for a dependable and solid family SUV, then the Subaru Outback is a good option. The Japanese brand is known for its reliability, and the diesel Outback with its all-wheel-drive should be able to tackle most terrains if necessary.

Despite sales of new diesel cars dwindling, demand for this used oil burner has grown by 14 per cent, based on the price of a three-year-old car today compared to the end of November 2021. 

=18. Skoda Rapid diesel (2012-2019) – UP 14%

The second car on our list was never a big seller in the UK, but at a time when financial purse strings are being tightened would be the ideal solution as a family car on a strict budget. When it was new, the Rapid sat between the Fabia supermini and C-segment Octavia in Skoda’s range – though it has been removed from the line-up as the Czech brand switches to SUVs.

Available in two guises – the Rapid saloon and Rapid Spaceback hatch – demand for used examples have pushed the price of a three-year-old car £1,325 higher in a year. 

=18. Fiat Doblo diesel (2010-2019) – UP 14%

Fiat’s Doblo is a versatile MPV. Popular among consumers using the Motability Scheme, it’s a brilliant option for converting into a wheelchair-accessible vehicle.

It’s not what you’d call mainstream, given that not many were sold new in the UK. But demand for practical family carriers has pushed the value of three-year-old diesel versions higher by almost £1,500. 

=16. Toyota Prius+ hybrid (2012-2021) – UP 14.2%

Toyota introduced the Prius+ in 2012 in a bid to jump on the success of the Prius hybrid. The Prius+ is an extended version of the green saloon, offering seven seats and bringing the option of petrol-electric driving to larger families.

If you wanted a three-year-old example with 30,000 miles on the clock a year ago, you would have needed to pay £20,767. A three-year-old example with average mileage is worth £3,000 more today than it was in November 2021. 

=16. Citroen C1 petrol (2014-2022) – UP 14.2%

The first of the super-frugal dinky city cars in the biggest risers list is the Citroen C1. The sister car to the Peugeot 108 and Toyota Aygo, it offers compact dimensions, a chipper little petrol engine and mega-low tax, insurance and general ownership costs.

With purse strings likely being tightened during the financial squeeze, demand for tiny models like this might explain why a three-year old car costs over £1,000 more now than one would have 12 months ago. 

15. Hyundai i10 petrol (2013-2020) – UP 15.8%

Like the Citroen C1, the Hyundai i10 is a city car that’s small in size but big on cost saving, with a super-efficient petrol engine and plenty of practicality wrapped up in a compact parcel.

A new i10 arrived recently, but the previous-generation model offers plenty of value as a second-hand purchase. Which is why demand appears to be high, pushing the average price of a three-year-old example £1,221 higher.

14. Nissan GT-R petrol (2009-2022) – UP 16.2%

We know we said this list wouldn’t include any bonkers supercars, but we have allowed the Nissan GT-R to feature. That’s because once upon a time it was a great-value sports car, though in recent years the new price has gradually crept higher.

Nissan announced in April that production of its brilliant GT-R had ended because the car is now officially too loud for EU roads. This has only added to its ‘modern classic’ credentials and likely contributed to values of three-year-old examples soaring by almost £12,000 compared to November 2021. 

=12. SsangYong Tivoli petrol (2019-present) – UP 16.5% 

The SsangYong Tivoli is a relatively inexpensive compact SUV that you might not have heard of. Think of it as a rival to the Dacia Duster, with the pair aimed at family car buyers on a budget.

There seems to be a lot of demand for these value models, with the average value of a three-year-old model with 30,000 on the clock some 16.5 per cent pricier than they would have been 12 months ago. 

=12. Hyundai Kona electric (2018-present) – UP 16.5% 

The Hyundai Kona is considered one of the better electric SUV models currently on the market. The 64kWh battery models offer up to 300 miles of range, which is more than suitable for 99 per cent of daily journeys in Britain.

Some second-hand models are now starting to drip onto the used market, and buyers are snapping them up quickly. Such demand is likely driving a 16.5 per cent jump in average prices of three-year-old cars in the last 12 months. 

11. Renault Zoe electric (2013-present) – UP 16.8%

If you want a small electric car with plenty of range, the Zoe will likely be on your shopping list. Renault has sold a hatful of them since it hit the market, and has upgraded it recently to provide longer driving distances with a fully-charged battery.

A three-year-old example with 30,000 miles on the clock in November 2021 would have cost a used buyer around £14,000. A model of that age and mileage today is now over £16,500, such is the growth in demand and impact on prices. 

10. Mercedes-Benz S-Class hybrid (2013-2021) – UP 17.8%

Hybrid variants of the S-Class saloon were added to the Mercedes range in 2013, with the S500 being the first of these. It added to the line-up a luxury executive model with some green credentials to boot.

Demand for these hybrid examples of the previous-generation S-Class are going up in value – and by a fair chunk. The 17.8 per cent growth in price of a three-year-old car with 30,000 miles on the clock translates to almost £7,500 in additional cost. 

9. Alfa Romeo Mito diesel (2009-2019) – UP 19%

Very few car makers sell new superminis with diesel engines. The emission cheating scandal in 2015 has really curbed consumer appetite for diesel, which is why brands have been ditching oil burners from their ranges.

It means anyone looking for a smaller car that wants a diesel needs to focus their attention on the used market. The Alfa Romeo Mito appears to be attracting some demand, with the price of a three-year-old, 30,000-mile cars selling for £1,400 more than they would have a year ago.

8. Volkswagen e-Up electric (2013-2022) – UP 19.8%

The Volkswagen Up is one of the best city cars on the market. And the electric e-Up is a brilliant little EV… if you can get your hands on one.

This is a car that quickly sold out in the UK and VW didn’t make enough to meet demand from buyers. This is why they are hot property on the used market, with a three-year-old car with average mileage costing £15,750 today. A year ago, three-year-old e-Ups were selling for a little over £13,000. 

7. Peugeot Ion electric (2011-2019) – UP 19.9%

The Peugeot Ion is one of the first mainstream small electric cars to be sold in the UK. You can tell because the maximum driving range was quoted in the region of around 55 miles – and even that’s a little optimistic.

Still, there seems to be some demand for used models, which is likely coming from city dwellers looking for a super-green motor at a cut price. Though this means their values have gone up, and by almost a fifth in a year. 

6. Mercedes-Benz G-Class diesel (2019-present) – UP 21.3%

The most expensive model in this list is the Mercedes G-Class – often referred to as the G-Wagon. But the data is only for the diesel-powered G350d variant, rather than the burbling G63 twin-turbo V8, which is primarily owned by the mega rich… and footballers.

If you bought a three-year-old used diesel G-Class in November 2021, it would have cost £78,700. Today, a 36-month-old example is selling for £96,500, such is the surge in value.

5. Dacia Logan MCV diesel (2013-2020) – UP 22.2%

From a hugely-expensive – and somewhat unnecessary – Mercedes SUV to a very affordable and incredibly practical small estate car from Dacia. The Logan MCV is an extended Sandero supermini, meaning a huge boot for unparalleled luggage space.

The Logan MCV has been culled from Dacia’s range, but people still want them. Which is why buyers are willing to spend £1,500 more on a three-year-old example today than they would have a year ago.

4. Mercedes-Benz S-Class petrol (2013-2021) – UP 24.3%

We’ve already featured in this list the petrol-electric hybrid version of the previous-generation Mercedes S-Class, but conventional petrol-engined examples are going up in value even more so.

A three-year-old S-Class petrol in November 2021 would have set a buyer back around £44,900. Three-year-old examples today are selling for closer to £56,700.

3. Toyota Prius hybrid (2016-2022) – UP 26.2%

It was confirmed only a matter of weeks ago that the fifth-generation Toyota Prius won’t be coming to the UK, ending a 22-year availability of what was the original posterboy for green motoring. Toyota said this is because there isn’t much demand for saloons in Britain and it will instead focus on hybrid SUVs.

But the used market suggests otherwise, as the outgoing Prius is one of the biggest value climbers in the last 12 months. In fact, three-year-old examples are up in average price by over a quarter, meaning you have to hand over £4,600 more today than you would have done if you bought the car in November 2021. 

2. Citroen C-Zero electric (2011-2019) – UP 28.9%

Does the Citroen C-Zero look familiar? It should! That’s because it is the sister electric car to the Peugeot Ion in seventh spot in this list.

It shares the same battery-electric drivetrain, which is old-hat in 2022 compared to the longer-range EVs on the market today. Still, demand for a used examples seems to be strong, with a three-year-old car in 2022 costing £2,000 more than one would have done in 2021. 

1. Mercedes-Benz V-Class diesel (2019-present) – UP 36%

The biggest riser of them all has seen a jump in three-year-old vehicle value of over a third! And, completely against the grain of the new-car market, it is an MPV and diesel-powered, both of which are becoming rapidly unpopular options in showrooms currently.

The Mercedes-Benz V-Class is its capacious people carrier with eight seats. A 36 per cent rise in value of three-year-old examples means buyers will have to pay £13,400 more today than if they bought a three-year version in November 2021, says cap hpi.