10 Best Cars to Buy Used Instead of New


You already know buying used over new can be your most economical option — but which used cars get you the most bang for your buck?

iPhone shopping cars to find the best cars to buy used

In the market for a car? We’re sure you’re aware that one of the many, many decisions you’ll have to make in the car buying process is whether to buy new or used. Sure, there are a few great reasons to buy new. For example, if you have the funds available to do so and a solid credit score, you will probably find it easier to buy new with little or no down payments. There are also often incentives offered (rebates, financing discounts, etc.) with new cars that don’t typically come with a used-car buy.

That being said, buying used is often referred to as the more economically efficient choice, and here’s why:

The Value of Used

Cars value depreciates. Our friends at Google define depreciation as “a reduction in the value of an asset with the passage of time, due in particular to wear and tear.” And with a new car, on average, they lose 11 percent of their value as soon as you drive those shiny new wheels off the lot, and even up to 15 percent, according to Alternet: “It doesn’t stop there; by the time it’s four years old, the typical car retains only about half of its value.”

In addition, buying used can not only save you green, it can also help you go green. Alternet also reported that “between 12 and 28 percent of the carbon dioxide emissions generated during a car’s lifecycle occur during manufacturing and initial shipment.”

The Savings of Used

Not to mention our very favorite perk to buying used: car insurance savings. Typically, insuring a used car is cheaper than insuring a new car. Now, this may not ring true when it comes to classics or cars that may be in unsafe conditions as a result of their usage. According to Esurance, the key here is to pay close attention to the make and model: “When it comes to buying car insurance, make and model matter more than calendar year.”

So, in the spirit of finding the best deals for your search, we’ve found the top ten cars to buy used according to their depreciation values. iSeeCars, a used-car online ranking service, recently did a study to find out which cars can translate into the most savings when bought used instead of new. CEO Phong Ly explains:

“Everybody knows that new cars depreciate the most in the first year and that different cars have different depreciation rates, but we wanted to see which used cars experienced the largest price drops compared to their new models.”

So, without further ado, the study’s results of the top ten cars to buy used over new:

The Best Cars to Buy Used

10. Jaguar XK

Price difference in dollars after one year: -$28,100

Price difference in percent after one year:  –29.2% 

jaguarxk - best cars to buy used

9. MINI Cooper

Price difference in dollars after one year: -$9,000

Price difference in percent after one year:  -29.3%

minicooper - best cars to buy used

8. Lincoln MKS

Price difference in dollars after one year: -$9,000

Price difference in percent after one year:  -29.3%

lincoln-mks - one of the best cars to buy used

7. Mercedes-Benz S-Class

Price difference in dollars after one year: -$37,600

Price difference in percent after one year: -32.4%

audi car - one of the best cars to buy used

6. Volvo S80

Price difference in dollars after one year: -$15,700

Price difference in percent after one year: -32.6%

volvo s80 - one of the best cars to buy used

5. GMC Yukon XL

Price difference in dollars after one year: -$21,100

Price difference in percent after one year: -32.8%

gmc-yukon -one of the best cars to buy used

4. Chevrolet Impala

Price difference in dollars after one year: -$10,800

Price difference in percent after one year: -33.5%

IMPALA -one of the best cars to buy used

2. (tie) Cadillac CTS

Price difference in dollars after one year: -$20,000

Price difference in percent after one year: -36.9%

Cadillac Sedan - one of the best cars to buy used

2. (tie) Smart fortwo

Price difference in dollars after one year: -$6,900

Price difference in percent after one year: -36.9%

coupe - one of the best cars to buy used

1. Hyundai Genesis

Price difference in dollars after one year: -$16,600

Price difference in percent after one year: -38.2%

Hyundai-Genesis - one of the best cars to buy used

 

What do you think—is it worth the savings to buy used? We can sure think of an awful lot of things to do with 10k…

  • Caleb Hart

    It’s amazing to see how much more affordable cars become as time goes on. My friend and I would absolutely love to get a used car together. We are currently students, but we’re not sure if we need to drive that much. Splitting a car would be a great option for us. http://www.carcraftautosales.com