Jaguar's F-Pace is now the most profitable used car for dealers
A new report by CarWow has revealed that the Jaguar F-Pace is the most profitable used car for dealers in the UK. The luxury SUV has an average profit margin of 18.1%, which is higher than any other model in the market. Eight of the top ten most profitable cars were high-end SUVs.
The used car market has suffered over the last few since as Covid-19 and the war in Ukraine disrupted the supply chain, thus increasing the prices of second-hand motors. However prices have dropped closer to pre-pandemic levels - although new car prices seem to be rising above inflation rates and some car buying firms are still offering prices that almost mirror retail figures.
When comparing CarWow's auction deals in the last six months to the retail prices has shown that the Jaguar F-Pace had a margin of £4,721. Other cars in the top five include the Mercedes-Benz GLE with a profit margin of £4,600 and the Range Rover Sport with a margin of £4,588. Other SUVs such as Audi's Q7 and the Land Rover Defender also made the list. The only two cars in the top ten that weren't SUVs were Volkswagen's Golf R and Ford's Mustang, which also had margins over £4,000.
It's very useful to know how much margin dealers are making from your car. If a dealer makes a large profit on your car it doesn't necessarily mean that you've been ripped off and that the dealer was being greedy, it just means that your car is very sought after. It is also important to bare in mind that dealership packages such as warranties also contribute to the retail price. Also many people would prefer to pay more for a car from a dealership because a dealer can offer quality checks and servicing that most individuals cannot.
About The Author
Joseph Catley - SYPC Media Manager