SUNSHINE MOTORING may be more of a dream than a reality in Britain but new figures prove we build more of the best convertibles than anyone else, according to the independent car information experts CAP Automotive.
Measured by how little money they lose, an impressive 7 out of the top 10 best convertibles are British designed and built.
Britain’s enduring love affair with the convertible is so well established that our frequently rainy island remains the 2nd biggest market for ‘ragtops’ in Europe.
But less widely known is the impressive track record of British-built convertibles when it comes to holding their value over time.
New figures from CAP – the leading independent car valuation and consumer motoring cost experts – show that Morgan and Lotus dominate the top 10 list of lowest depreciating ragtops. Porsche is the only foreign manufacturer to get a look in when it comes to holding onto their original value.
CAP’s car performance number-crunchers – who provide free valuation and running cost tools for motorists at www.cap.co.uk – also reveal that convertibles in general hold their value better than almost any other type of car in the UK.
CAP looked at today’s secondhand values for all cars in Britain that were registered 3 years ago and found that only luxury SUV’s beat convertibles for holding their value over the past 36 months.
And a closer look at convertibles revealed Lotus and Morgan dominating the top 10 value performance chart, holding 2nd, 3rd, 4th, 5th, 6th, 7th and 8th places – holding onto between 52% and 64% of their original cost new.
Despite the unpredictability of the classic British summer, it seems that topless models built in frequently flooded Worcester and often drizzly Norfolk are reliably sunny cash savers for their owners.
Curiously, British drivers’ love of winding the roof back is so uncompromising that the alternative open-top experience offered by a metal folding roof coupe cabriolet does not even come close to the ragtop’s value performance. Buy a great British convertible and expect to hold on to 50-60% of your money after 3 years. Drive a tin top and expect to lose 60% of your money over the same period, according to CAP’s motoring cost experts.
Philip Nothard, CAP’s retail and consumer specialist, said: “We are a nation of romantics at heart. That means we still love the feel of the wind in our hair – even if it’s mixed with a bit of drizzle.
“But there is a serious point about the British fondness for the traditional soft top when it comes to understanding the best way to save money.
“Car depreciation has by far the biggest impact on your wallet or purse during the time you own a car. These figures show that if you really want to enjoy the occasional sunny day on the roads – and save money – the car you choose will make a big difference to your wealth over time.
“We always recommend that motorists research the expected depreciation and other costs of the cars they choose by checking the figures at www.cap.co.uk/consumer.”