The most recent figures from the used car pricing experts at CAP show that used cars are retaining their value much better this summer, than during the same months the previous year.
CAP also found that smaller, more energy-efficient rides are still ahead in terms of holding their value best.
Superminis – Mini Cooper, Smart Cars and even the Toyota Prius keep their value much better than other vehicles, as they have a current depreciation of 4.1 percent, in comparison to 8.3 percent last year.
The boost in smaller vehicles may have to do with restricted used car volumes that were put in place during the peak of the recession in 2008, to prevent a "meltdown" of used car values from occurring, said Mike Hind of CAP.
"With no economic recovery on the horizon it seems certain that smaller and more economical cars will continue to depreciate more slowly than 'petrol guzzlers' as running costs overtake image in the priority list for used car buyers," Hint said. "The other significant factor influencing used car prices in general is relatively low volume, which is partly a result of the collapse in new car registrations over the past 3 years."
FOX News reports that consumers are looking into more energy-efficient options as gas prices seem to continue to rise. Sales of hybrid options rose by 18 percent from April of last year.
And as addition of that it seems that smaller vehicle use less fuel consumption that the big one. Because of its light weight, the energy used are less thus contributing much in terms of budget.