If you don’t want to take the gut-punch of depreciation, consider a slightly used car over a new one.
Even with some prices “coming back down to earth”, the average new car still costs over $45,000, and who knows where they’ll go from here. Inflated MSRPs, along with some egregious cases of dealer markup, had ripple effects on the used market as even folks looking to save a few bucks faced higher barrier to entries than they did several years ago. On the whole, though, you can still save some cash looking at a lightly used example of whichever car you’re shopping. In some cases, according to a new iSeeCars study, you can save far more than that, even.
The firm’s latest study looks at 1.6 million new and one-year-old used car sales to determine the biggest savings. Some cars hold their value remarkably well — and some even go for more money used than they cost to buy new, while “tanking” hardly begins to describe how others depreciate. In fact, one car loses so much value after a trifling twelve months that you’re pretty much better off just burning $65,000 in an open fire. Or you could do the smart thing and, you know, put it in an interest-bearing account.
While there are a couple surprises on the list of the top 20 cars to buy used over new, one predictable theme stands out. If you buy an EV — any EV — prepare to lose a ton of value in the first year of ownership.
Top 20 Cars to Buy Used Over New
| Rank | Make/Model | Used Price (Average) | $$$ Difference vs. New | % Difference vs. New |
|---|---|---|---|---|
| 1 | Mercedes-Benz EQS | $71,231 | -$65,143 | -47.8% |
| 2 | Nissan Leaf | $18,756 | -$15,786 | -45.7% |
| 3 | Jaguar F-Pace | $52,010 | -$28,555 | -35.4% |
| 4 | Alfa Romeo Giulia | $32,467 | -$16,297 | -33.4% |
| 5 | Kia EV6 | $36,243 | -$18,081 | -33.3% |
| 6 | Hyundai Ioniq 5 | $34,303 | -$16,805 | -32.9% |
| 7 | Volkswagen ID.4 | $31,870 | -$15,609 | -32.9% |
| 8 | Alfa Romeo Stelvio | $36,630 | -$17,495 | -32.3% |
| 9 | Nissan Murano | $29,458 | -$13,842 | -32.0% |
| 10 | Mercedes-Benz S-Class | $99,598 | -$45,781 | -31.5% |
| 11 | Dodge Durango | $43,407 | -$19,335 | -30.8% |
| 12 | BMW 7 Series | $84,990 | -$36,126 | -29.8% |
| 13 | Dodge Challenger | $36,496 | -$15,498 | -29.8% |
| 14 | Ford Mustang Mach-E | $38,543 | -$16,364 | -29.8% |
| 15 | Ram 1500 Classic | $31,969 | -$13,176 | -29.2% |
| 16 | Infiniti QX80 | $59,618 | -$24,084 | -28.8% |
| 17 | Audi A3 | $29,587 | -$11,911 | -28.7% |
| 18 | Chevrolet Bolt EUV | $23,320 | -$9,151 | -28.2% |
| 19 | Chevrolet Bolt EV | $22,229 | -$8,633 | -28.0% |
| 20 | Audi A4 | $35,667 | -$13,836 | -27.9% |
| – | Industry Average | $39,328 | -$5,778 | -12.8% |
The trend of massive EV price drops rings painfully clear in iSeeCars’ study, though you can save yourself some grief if you manage to buy a one or two-year-old example for a steep discount. So too does the story go for cars that are aging compared to the competition, like the current Nissan Murano and Dodge Durango. It seems these don’t hold the same retail value as some newer and fresher designs, but that can work in your favor if you’re looking to save some cash on a new-to-you car.
