Used cars

Proton X70 Used Value After 5 Years Dives By 50 Percent

Is it a good time to buy a used Proton X70 that has depreciated by 50 percent

We all know that Proton management made the right decision in partnering with Geely from China 6 years ago to start bringing in their SUV’s in December 2018.

The X70 sold by the thousands and the immediate rivals, like the Mazda CX-5 and Honda CR-V felt the sales pinch with Proton’s national car pricing which was only RM122k for the Premium version.

Meanwhile, the CX-5 was priced from RM131k back in 2017 and the CR-V had a price tag of RM145k. Today both the CR-V and also CX-5 early models have also depreciated, by about 40-50 percent, but the purchase of a used X70 (especially the first generation which was fully imported from China might seem a little more tempting)

Interestingly, it is now 5 years later and there are more than 100,000 units of the X70 delivered around the country and many have started coming into our used car market as owners start upgrading to new models with brand new 5-year warranty and after sales. Yes, there are many Malaysian car buyers who shift their cars once the warranty ends for a shiny new model.

Proton X70

So, as the 5-year-old X70 enters the used car market, choices are plentiful and online used car platforms are offering very low values to try and earn high profits. Owners are being offered between RM44,000 to RM47,000 for their 5-year-old X70’s and other are taking a stand and advertising themselves at RM55,000 to RM60,000.

For a person looking for a used SUV, this means plenty of choice and huge savings of about RM70,000 or so. Yes, the first owner lost about RM14k a year, but that’s the used car market.

This is probably why Proton in October 2022 started their very own Proton Certified Pre-Owned (PCPO) business which offers a one-year extended warranty or 25,000km, whichever comes first. The warranty will be underwritten by Allianz General Insurance.

Meanwhile, if you are keen on a used Proton X70, please take care to check for flood damage, accident damage and also high mileage as many have been used for ride hailing business.

A trusted mechanic is needed to check all the above and it is worth to pay him for his trouble. You do not want to get a SUV that has been thru a flood, serious accident, high driving mileage or had numerous warranty issues.

There are hundreds of units to chose from in the used car classifieds, but we suggest you try Proton’s own PCPO as there is a warranty and you can always go back to them if there is an issue.

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