Call Me Now

Online Quote

Simply complete the details below to receive your insurance quote.

Call 0800 542 2740 Included free in call plans

Insurance Blog

Latest news, views and product reviews

Convertible tips & picks

Convertible tips & picks

Posted by Daniel Severin on June 9, 2015.

If The Top Goes Down, The Price Goes UP!

Daniel Severin, our Sales Manager here at Plan Insurance, hones his passion for convertible cars to bring you some knowledge from those in the know. He speaks to our motor traders insurance clients about prices, popularity and picks his top 5 favourites.


This weekend I was out cleaning my car, and it was the first time I had heard the phrase – ‘If the top goes down, the price goes up!’  And it came from a motor trader.

So there I was polishing my BMW M Roadster I have owned for few years now, and a local part time motor trader passes by. The car dealer in question stopped and asked if he could have a look at my car. At first I was a bit suspicious; however it turns out my little blue BMW has now started to go up in value. And unmodified versions are hard to come by – or so I was told by this motor trader.

After chatting to him for a while, I was asked if I wanted to sell it. He offered me more money than I actually paid for it just over 4 years ago! To say I was tempted was an understatement. I do not imagine that most people go out buying a car as an investment unless you are spending a lot of money!

So when I discovered my car had gone up in value since I purchased it, I was very pleasantly surprised.


Dan Severin's BMW M Roadster


This got me thinking. What other cars out there have this ‘Top Goes Down – Price Goes Up’ stance?

I have owned a few convertible cars so I thought I would do some research.  After some searching the internet and talking to some of car dealer insurance clients, it appears a few convertibles do rather well this time of year.

Some motor traders say they even buy cars in January and February simply to put them away until the sun comes out.

So I have compiled my top 5 favourite cars from personal preference, along with some guidance from some motor traders in the know.


BMW M Roadster 

So I had to start with my car as this is how it all started. Firstly let’s not get it confused with a BMW Z3 3.0 or a BMW Z3 with an M kit or badges. I am referring to the M Roadster. Calling it a BMW Z3 would be like calling a M3, just a BMW 3 series. They are not the same vehicle.

It looks very similar to a BMW Z3; but like how a BMW 330Ci looks very similar to its M3 counterpart. They are not the same car, and it appears the M Power presence still commands a higher premium in used car market over the standard models.


This takes my number 1 spot as firstly it is my car; secondly after looking at Auto trader they currently have only 9 for sale ranging from £13,985 to £37,500. Now just over 4 years ago I paid £5,500 for mine. So based on the cheapest one on Auto Trader my car is currently seeing me just over a £8,000 profit in 4 years or 154% increase -Not too bad; maybe I should become a Motor Trader! Watch out wheeler dealers!


Peugeot 205 CTI 

Next on my list is a car I once owned in my teens and shortly after passing my driving test. I also have to say it was my favourite car I have ever owned. I had the 1.9 version in red and it was the first car I bought with my own money. As my previous car was given to me by my Gran (a 1982 Austin Metro 1.0L)

However back to the Peugeot; both my parents said I shouldn’t buy it as it was too quick for me. They feared that I wasn’t experienced enough to own a car this quick etc. But; I listened to none of this as I was 18 and I knew I best!!

Well to cut a long story short; I owned the car around 2 months before I lost control of it and rolled it. I must admit, my Dad was very nice about it and gave it probably a full 30 mins before saying “I told you this would happen!”


I picked this car as my number 2 (it could just as easily have been number 1 due to my affection for it.) When it was launched it won several awards for all types of things; and is still often referred to as the king of the hot hatch era.

Having spoken to a few Motor Traders, they all said this is a car to watch for in the future. Prices seem to have bottomed out and are now starting to rise for good examples.


Mercedes SL500 or SL55 AMG 2002 – 2004

The next car was brought to my attention by a local car dealer who told me he cannot wait for the good weather to arrive as he has a few of these cars stored away for the sunny days.

This motor trader in particular has said in recent years the prices for these cars has fallen drastically, but he says they are now as low as they will go.  He explains a high spec model would have set you back close to £100K new. Now 10 years later you get one for a little over £10K.

The trader goes on to explain these cars attract people who want a good solid car with lots of power and spec but aren’t in possession of a £100K budget.


After being told by several motor traders they like these cars; it makes into 3rd place. It is liked for its Mercedes badge, its sleek look and performance. As motor trader like to say, “It is a lot of car for your money! (Plus the roof goes down!)”


Mini Convertible One – 2005

This one is for the girls….. (apparently.) Many motor traders are saying they cannot get enough of these vehicles when the sun is out.

I have been informed they are very popular with the younger female driver market.

With the BMW build quality many say they are more reliable than mini’s of old; however some could argue they do not have the same charm as the classic minis.


With the sun coming and these becoming more and more popular; every motor trader I spoke to said these will be hot property this summer.


Mazda MX-5

The last one in my top 5 is the Mazda MX-5. This car has been praised by everyone in the motor trade, from journalists, mechanics, and professional drivers to people in car sales.

It appears everyone in the motor trade industry does not have a bad word to say about the little MX-5.

It has won several awards over the last decade and with the new model now out and it doing well; its success appears set to continue for even longer.


It is praised for being everything a two seater sports car should be and has its own cult following.


So with the sunshine making an appearance and summer fast approaching will you be looking to stock up with any of these convertible cars or do you have your own personal favourites?

Meet the Author Daniel Severin

With over a decade of commercial insurance experience and a CII qualification, Daniel will provide informed views on commercial motor and insurance industry news. He's also a bit of a tech Geek, so don't be surprised if a few gadget/app reviews appear here.

to top