The Mini retains 54 per cent of its original new price after three years or 60,000 miles, according to the latest residual value survey from vehicle leasing company Lex. It is the second year in a row that Mini has topped the study.

Audi claimed second and third place with its TT and A5 models, which retain 52 per cent and 51 per cent of their original value. The German brand also had the highest number of entries in the top 20 as its A3, Q7 and Cabriolet models also performed well in the study. The Range Rover Sport and Mercedes SLK complete the list of the top five most valuable used cars.

Ranking 1 MINI 54% 2 Audi TT 52% 3 Audi A5 51% 4 Range Rover Sport 50% 5 Mercedes Benz SLK 49% 6 Mercedes Benz C Class 49% 7 Audi A3 48% 8 BMW X5 47% 9 Volvo C30 47% 10 Land Rover Freelander 47% 11 Toyota RAV4 46% 12 Nissan 350Z 46% 13 Honda CRV 46% 14 Porsche Boxster 45% 15 Toyota Prius 45% 16 Audi Q7 45% 17 Mercedes Benz M Class 45% 18 BMW 3 Series Coupe & Convertible 45% 19 Audi Cabriolet 44% 20 BMW 1 series 44% Source: Lex

“Most used drivers aspire to the same credentials as a new car buyer, that of style, exclusivity and reliability and that's why this list is the way it is,” said Steve Jones, Lex pricing manager. “Those used buyers who can't afford a new Mini or Audi TT may well be able to stretch to a used one in two or three years time so they will be in high demand, thus pushing up prices,” he added.