New Honda Civic

CAP, the UK’s leading vehicle information provider, has given the new Honda Civic strong second-hand resale values (residual values) due to its reputation for high quality products and reliability.

The residual value predictions from CAP indicate that the Civic 150PS 2.2 i-DTEC ES and new entry level 100 PS 1.4 i-VTEC will achieve a trade value of 38 per cent of their original “cost new” price after three years and 60,000 miles. This works out as £8,050 and £6,175 respectively.

The new Civic has also secured insurance ratings at four to five times lower than the outgoing model which will help drive costs down even further. Dave Hodgetts, Managing Director, Honda (UK), said,”These excellent residual value predictions and insurance group ratings combined with lower CO2 emissions and improved fuel consumption make the Civic a very competitive proposition for both private and corporate customers”. Honda car leasing for all new Civic models is on the site now.

Revised Mondeo

The new Ford S-MAX and Galaxy and revised Mondeo have all had stronger residual values set by CAP, the UK’s leading vehicle industry data supplier.

Martin Ward, CAP’s manufacturer relationship manager said,”When looking at the new Ford S-MAX against the outgoing model side by side, the differences are obvious. Its exterior lines are sleeker and give it a bold appearance”.

New Galaxy

CAP Monitor April 2010, which is the fleet industry residual value forecaster, has set new residual values over three years and 60,000 miles for the new S-MAX, Galaxy and revised Mondeo Titanium 2.0 TDCi (140PS)  Powershift Auto five-door as follows.

• S-MAX- £9,925
• Galaxy – £9,475
• Mondeo- £6,700

The residual value is important not only when you are buying a car but also when leasing a vehicle on contract hire, as the leasing company calculates what the vehicle is worth in the future, when setting their rentals. The stronger the residual value, the lower the monthly rental will be and that’s why cars that cost more to buy may in fact have lower monthly contract hire rentals. The best way to see this in action is to use the Super Shopper and choose your favourite manufacturers and rental banding. You will then see in the contract hire results that some cars that are more expensive to buy, may have lower monthly rentals than other vehicles.

Jaguar XJ

Independent experts EuroTax Glass’s, the car industry’s leading residual value “bible”, has forecasted that the new Jaguar XJ will have class-leading residual values in three years time.

Based on pricing in January here are their forecasts;

1. Audi A8 TD. Cost new is £53,290. Estimated residual value in 36 months with 60,000 miles is £18,600 (35%)
2. Mercedes-Benz S350CDi. Cost new is £56,263. Estimated residual value in 36 months with 60,000 miles is £21,400 (38%)
3. BMW 730d. Cost new is £53,300. Estimated residual value in 36 months with 60,000 miles is £19,950 (37%)
4. Jaguar XJ 3.0 d. Cost new is £53,775. Estimated residual value in 36 months with 60,000 miles is £20,600 (40%)

Jason King, Head of Market Intelligence for EurotaxGlass’s, said,”The exterior design of the new XJ is certainly stunning, bringing a bold, fresh approach to the luxury car segment. This bold design is sure to appeal to a wider and much younger audience, building on the fine work of the XF in helping the Jaguar brand redefine itself and appeal to a younger buyer”.

The residual value of a vehicle is the biggest factor affecting the contract hire rental you will be charged. While the forecast by Eurotax Glass’s Guide shows the Jaguar has the strongest residual value, this does not mean that the contract hire rental will be the best.

For example at present the BMW 730d SE Auto is being offered at £692.60+VAT  per month on the site, on a three year non-maintained contract hire rental (3+35 rentals), at 20,000 miles per annum (60,000 in total) . The least expensive Jaguar XJ 3.0-litre diesel on the same terms is £920.63+VAT. This is the attraction of contract hire, as it shows you the total life cost of a vehicle covering all the cost factors.