Leslie Massey
When buying a car, one of the most important considerations is how well it will retain its value over time. While most cars lose value as soon as they are driven out of the dealership, some brands and models hold their value better than others. In Australia, Toyota and Honda vehicles are known for their strong resale value, with Toyota's RAV4 and Camry making it into the top five. Smaller, affordable vehicles also tend to have higher retained value, with the Mitsubishi Mirage boasting the highest. Hybrid models are also becoming increasingly popular in Australia due to rising fuel prices and stricter emissions standards, with Toyota's compact hybrid Corolla leading the way.
| Characteristics | Values |
|---|---|
| Small, affordable vehicles | Mitsubishi Mirage, Suzuki Ignis |
| SUVs | Toyota LandCruiser, Prado, Fortuner, Nissan Patrol, Toyota RAV4, Honda CR-V, Subaru Outback, Hyundai Tucson |
| Toyota models | Corolla, Camry, LandCruiser, Prado, RAV4, Yaris, Yaris Cross, Corolla Cross |
| Hybrid cars | Toyota RAV4, Honda CR-V, Toyota Corolla |
| Popular second-hand models | Suzuki Jimny, Toyota Yaris Cross, Toyota Corolla Cross, Kia Picanto, Mazda 2, Hyundai i30 |
| Utes | Ford Ranger, Toyota HiLux, Mitsubishi Triton, Holden Colorado, Isuzu MU-X |
| Other models | Volkswagen Golf, Mazda CX-5 |
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What You'll Learn
Toyota's popular family SUV, RAV4, and Camry
In Australia, small, affordable vehicles tend to retain their value the best. The Mitsubishi Mirage, for instance, has the highest retained value on average. However, SUVs remain the top choice for Australians, particularly off-road models like the Toyota LandCruiser, Prado, Fortuner, and the Nissan Patrol.
Toyota's popular family SUV, the RAV4, is a hybrid electric midsize SUV that comes with Toyota's signature Hybrid Electric technology. It offers outstanding power delivery and fuel efficiency in both 2WD and AWD versions. The RAV4's engine charges its hybrid electric battery as you drive, so there is no need to plug it in. The RAV4 also comes with a front-mounted camera that recognises Australian speed signs and displays them on the multi-information display. Additionally, the RAV4 has advanced technology features, including up to 5 USB ports, wireless Apple CarPlay, and remote features, connected navigation, and connected voice command.
Toyota's Camry model also shows consistent value retention across the board, with an average of 79.1% retained value. The base-spec Ascent hybrid version performs particularly well, retaining 81.4% of its value after three years. Overall, Toyota's reputation for reliability and durability has earned it a top spot in the used car market in Australia. Their focus on quality gives their cars a "bulletproof" reputation, making them highly desirable in the second-hand market.
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Hybrid models, such as the Toyota Corolla
The Toyota Corolla has been a household name in Australia for over 50 years and is known for its reliability, fuel efficiency, and low running costs. It is a practical choice for many Australians, offering a blend of technology, handling, driving aids, good looks, and fuel economy. The Corolla Hybrid, in particular, provides a quiet and sleek driving experience, predominantly using electric power below speeds of 40 km/h or with light to moderate pedal input.
The Corolla's broad appeal ensures strong resale value across all model years, often holding up to 95% of its retail price within two to four years. It is one of the world's best-selling cars, and its compact size, spacious cabins, and sporty exteriors make it an attractive option for those seeking a reliable and economical vehicle. The 2023 Toyota Corolla SX Hybrid, for example, is priced from $34,280 plus on-road costs, representing a mid-range option in the Corolla lineup.
In addition to the Toyota Corolla, other Toyota models such as the Camry, LandCruiser, and Prado are also known for retaining their value well in the Australian market. Toyota's focus on quality and durability has earned the brand a top spot in the used car market, with its vehicles consistently ranking as favourites among buyers across age groups. Overall, hybrid models are likely to continue attracting buyers in both the new and second-hand markets due to their fuel efficiency, lighter build, and environmental benefits.
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The Suzuki Jimny
The 2025 range of models is available in SUV body types, with prices ranging from \$30,490 to \$38,490. The Jimny is powered by a 1.5-litre naturally aspirated twin-cam four-cylinder petrol engine, pushing 75kW/130Nm to its four-wheel-drive system. It has a five-speed manual or four-speed automatic transmission. The Jimny's off-road capabilities are enhanced by a low-range transfer case, hill-descent control, and a hill-hold function. Its three-link rigid axles and generous ground clearance make it suitable for rough roads.
There are rumours of a five-door Suzuki Jimny, which would be longer and possibly heavier than the current two-door version. It may also feature a turbocharged engine and a mild-hybrid driveline. While there is no confirmed production date, Australia's demand for the two-door version may influence Suzuki's decision to bring the five-door model to the Australian market.
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The Mitsubishi Mirage
The 2024 Mitsubishi Mirage is equipped with a 1193cc 3-cylinder petrol engine that delivers 76 horsepower and 100 Nm of torque. It is available with a 5-speed manual transmission or a variable speed CVT. The Mirage offers an impressive array of features, including central locking, an anti-theft device, engine immobilizer, air conditioner, power windows, cruise control, and Bluetooth connectivity.
The Mirage ES stands out in Australia's evolving automotive landscape, reflecting the latest trends while embodying Mitsubishi's timeless reliability. The ES variant offers a smooth and efficient continuously variable transmission (CVT) for effortless city driving, while the LS variant provides additional premium features such as alloy wheels and a touchscreen infotainment system.
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The Mazda CX-5
In Australia, some used cars offer better resale value than others, making them a smart investment for those looking to maximise their return when selling. The Mazda CX-5 is a popular choice for Australians seeking a compact SUV that blends style, performance, and practicality. While it is not the best at retaining its value, it is far from the worst, with a slow and steady depreciation rate.
The CX-5's popularity and strong reputation for reliability help it maintain a relatively high resale value. Buyers appreciate its combination of practicality and performance, making it a top pick in the used car market. The CX-5 is known for its stylish design, comfortable interior, and fun driving experience, all of which remain attractive to used car buyers. Additionally, Mazda's strong brand reputation for building high-quality, driver-focused vehicles contributes to the CX-5's retention of value over time.
When considering the resale value of a used CX-5, several factors come into play, including age, mileage, model year, and trim level. Newer models and higher-end trims tend to command higher prices. Online resources like Kelley Blue Book (KBB), Edmunds, and Carfax can help estimate the resale value by taking these factors into account. Additionally, negotiating the price based on research, vehicle condition, and current market value is essential.
In summary, the Mazda CX-5 is a reliable and stylish choice for a compact SUV, offering a blend of performance and practicality. While its value retention is not exceptional, it holds its value reasonably well compared to other SUVs in its class. With its popularity, strong brand reputation, and desirable features, the CX-5 remains a competitive option in Australia's used car market.
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Frequently asked questions
Used cars with strong demand, reliability, and efficient designs are said to retain the most value in Australia. Toyota's Land Cruiser is renowned for its durability, reliability, and off-road capability, making it a popular choice in the used car market. Other Toyota models such as the Corolla, Camry, Prado, RAV4, and Hilux also hold their value well. Hybrid models are also likely to attract buyers in the second-hand market due to rising fuel prices and stricter emissions standards.
Smaller, affordable vehicles tend to hold their value better than older models. The Suzuki Jimny, for instance, has a retained value of 113%. Toyota's Yaris Cross and Corolla Cross also have high resale values due to extended waiting periods in the new car market. The Mazda CX-5 is another popular choice among Australian families due to its stylish design, fuel efficiency, and well-equipped interior.
SUVs remain the top choice for Australians, particularly off-road-capable models. However, smaller cars like sedans and hatchbacks are also popular and tend to have strong resale value, selling relatively quickly on the used market. Hybrid cars are also increasing in value in Australia.
Yes, the resale value of a car can vary depending on how long it is owned. Some car owners resell their vehicles after a few years, while others hold onto them for much longer. As a result, the condition of the car at the time of resale can significantly impact its value. Additionally, certain brands and models tend to hold their value better than others.
