JAZZ Tops table for holding its value

The Honda Jazz is Britain's best car for retaining its value according to Parker's annual depreciation report which surveyed almost 300 model ranges.

As well as class-leading residual values, the latest Jazz – which went on sale in 2008 – offers many features of a bigger car such as load space, driving feel and high-spec equipment, but with the great fuel economy, low emissions and more affordable running costs of a small one.

“The latest version of the Honda Jazz picks up where the previous model left off as a very desirable used car,” said Kieren Puffett, editor of Parker's. “A combination of incredible flexibility for a vehicle of its size, the interior space of a much larger car and low running costs make it just as appealing to used car buyers as it does to those choosing new. It proved to be the safest investment on four wheels during 2009.”

The Parker’s survey uses the value of cars, as if they were being sold privately, in good condition with 10,000 miles on the clock and compares this to their cost as new, 12 months earlier.

Small cars showed they are certainly the safest bet for depreciation, taking 35 of the top 40 places in the index.

The Honda Jazz is Britain's best car for retaining its value according to Parker's annual depreciation report which surveyed almost 300 model ranges.

“The latest version of the Honda Jazz picks up where the previous model left off as a very desirable used car,” said Kieren Puffett, editor of Parker's. “A combination of incredible flexibility for a vehicle of its size, the interior space of a much larger car and low running costs make it just as appealing to used car buyers as it does to those choosing new. It proved to be the safest investment on four wheels during 2009.”

The Parker’s survey uses the value of cars, as if they were being sold privately, in good condition with 10,000 miles on the clock and compares this to their cost as new, 12 months earlier.

Small cars showed they are certainly the safest bet for depreciation, taking 35 of the top 40 places in the index.

The best performers of 2009

1 Honda Jazz (08 on) - £1379

2 Fiat 500 (08 on) - £1460

3 SEAT Ibiza (08 on) - £1552

4 Hyundai i10 (08 on) - £1650

5 Mazda 2 (07 on) - £1702

The biggest losers of 2009

1 Maybach 62 (03 on) - £127,526

2 Maybach 57 (03 on) - £115,253

3 Rolls-Royce Phantom (03 on) - £81,183

4 Bentley Arnage (98 on) - £66,040

5 Ferrari 612 Scaglietti (05 on) - £51,627

Source: Honda

READ MORE - JAZZ Tops table for holding its value

CarMax Used Cars Incentive Program Launched

Auto retailer CarMax Inc. on Wednesday urged Congress to include used-car buyers in its proposed "cash for clunkers" legislation aimed at jump-starting the auto industry.

Congress is developing legislation that would provide vouchers to consumers who trade in their gas guzzlers and buy more fuel-efficient vehicles. Modeled after successful programs in Europe, the bills before both chambers of Congress are designed to get more gas-sipping cars on the road and boost auto sales, which dropped more than 40 percent among the Big Three carmakers in March.

While used-car buyers are eligible for vouchers under some versions of the proposal, other versions exclude them.

"More people will be able to participate in the program, more jobs will be saved, and more fuel-efficient vehicles will end up on the road by including used vehicles," Tom Folliard, the company's chief executive, said in a news release.

CarMax said its inventory currently includes more than 12,500 vehicles with more than 24 miles per gallon on the highway, which meets the fuel efficiency targets in the some of the legislative proposals.

Congressional leaders have signaled support for some type of car scrappage program and lawmakers are trying to develop a compromise that could win approval in both chambers.

With General Motors Corp. and Chrysler LLC surviving on billions in government aid and few takers at car dealerships, lawmakers have been trying to develop incentives to help the auto industry and respond to environmental groups that want better fuel efficiency in the vehicle fleet.

Analysts have estimated it could boost car sales by 750,000 to 1 million vehicles a year.

But in a recent note Credit Suisse analyst Gary Balter said while he doesn't see a recovery in car sales, either new or used, in the foreseeable future, the proposed legislation could eat into CarMax's sales.

In the Senate, Sens. Dianne Feinstein, D-Calif., Susan Collins, R-Maine, and Schumer want to give consumers a voucher for $2,500 to $4,500 to buy a new vehicle with better fuel efficiency. The older vehicle eligible for scrapping would need to get less than 18 miles per gallon.

The Senate version, which would apply to automobiles built around the globe, would also provide vouchers of up to $3,000 for used vehicles or credits of up to $3,000 for transit fares.

In the House, Rep. Betty Sutton, D-Ohio, wants to give car shoppers $3,000 to $5,000 when they turn in a vehicle for something more efficient. The program would be limited to cars built in North America and require the new car to get at least 27 miles per gallon.

READ MORE - CarMax Used Cars Incentive Program Launched