Want to make your next purchase more affordable? Think about these cars.
The used car market is challenging to define. Pre-owned cars are now more valuable than ever thanks to the epidemic and the consequent chip shortages, but after a year of irrational transaction pricing, prices are now beginning to level off. examined more than a million used cars sold between October 2022 and October 2023 to determine the direction of the trend and discovered that these 10 vehicles became much less expensive on the secondhand market.
1. Tesla Model 3
.Price of a used car on average for 3 years: $32,861
.Price decrease from 2022: -28.9%
Tesla recently reduced the price of the new Model 3; as a result, the value of older versions fell by almost 30% over the course of the previous year. Currently, the average price of a Model 3 is just over $30,000.
2. BMW i3
- Average 3-year-old used car price: $27,748
- Price drop from 2022: -18.1 percent
The BMW i3 gives the market a good sense of what to anticipate in terms of pricing from older EVs. The car’s value has slowly dropped till it is roughly equivalent to the cost of a brand-new Chevy Bolt. You may even find i3s selling under $15,000.
3. Chevrolet Blazer
- Average 3-year-old used car price: $29,062
- Price drop from 2022: -16.6 percent
With a 16.6% value decline over the previous year, the existing Blazer is starting to lose value as a new all-electric vehicle is due to enter dealerships. Generally speaking, you can purchase one for under $30,000, which is not terrible given the Blazer’s adaptability.
4. BMW 2-Series
- Average 3-year-old used car price: $30,689
- Price drop from 2022: -15.8 percent
The BMW 2-Series coupe, which provides a somewhat compact, nimble answer to the sport-luxury daily driver conundrum, is undoubtedly the most pleasant vehicle the company now sells. Similar to the majority of German luxury vehicles, it has experienced some depreciation over the past 12 months.
5. Volvo S60
- Average 3-year-old used car price: $29,507
- Price drop from 2022: -14.4 percent
Although we greatly like the Volvo V60, its wagon sibling, it’s difficult to deny the Volvo S60 sedan’s attractiveness as a foreign luxury cruiser. However, import vehicles from Europe, like the BMW, frequently experience depreciation, regardless of how enjoyable they are to drive.
6. Audi A5 Sportback
- Average 3-year-old used car price: $32,230
- Price drop from 2022: -12.3 percent
The Audi A5 Sportback, which has all the same luxurious equipment and performance you’d expect from the A5 coupe, is a livelier, sportier substitute for the A4 sedan’s more conventional appearance. Over the previous year, used car prices fell by an average of 12.3 percent.
7. Volvo XC40
- Average 3-year-old used car price: $31,302
- Price drop from 2022: -11.7 percent
It’s difficult to top the XC40 if you’re looking for a small SUV with a dash of elegance that stands out among the German options. However, over the past year, used prices decreased by an average of 11.7%.
8. Genesis G70
- Average 3-year-old used car price: $30,689
- Price drop from 2022: -10.9 percent
There is no better illustration of how Genesis is crushing it right now than the G70. It competes with the 3-Series in terms of looks, interior comfort, and driving performance. Given that the average price of used G70s has decreased by 10.9 percent since last October, this could be your greatest opportunity to get one.
9. Nissan Armada
- Average 3-year-old used car price: $32,268
- Price drop from 2022: -10.8 percent
The Nissan Armada offers three rows of seats and a significant towing capacity, making it an attractive replacement for the full-size Toyota Land Cruiser that is no longer sold in America. The value of used examples decreased by 10.8% in the last 12 months.
10.2024 Lexus UX 250h
- Average 3-year-old used car price: $32,931
- Price drop from 2022: -9.9 percent
The Lexus UX is the company’s smallest SUV and features hybrid power as standard. The price of the UX has decreased by 9.9% since last October, so if you know where to look, you should be able to find one for under thirty dollars.
FAQs(Frequently Asked Questions)
Q1: Why are these used cars considered affordable now?
- The used car market has seen fluctuations due to the pandemic and chip shortages. We’ve analyzed data from October 2022 to October 2023 to identify 10 cars that have become more budget-friendly.
Q2: Tell me about the Tesla Model 3’s price drop.
- The average price of a 3-year-old Tesla Model 3 is $32,861, showing a price decrease of -28.9% from 2022. Newer models’ price reduction impacted older versions, making them an excellent deal at just over $30,000.
Q3: How affordable is the BMW i3?
- A 3-year-old BMW i3’s average price is $27,748, with a price drop of -18.1% from 2022. You might even find an i3 selling for less than $15,000, making it a cost-effective option.
Q4: What about the Chevrolet Blazer’s pricing?
- The average 3-year-old used Chevrolet Blazer is priced at $29,062, showing a -16.6% price drop from 2022. With values decreasing, you can snag one for under $30,000, which is a good deal considering its versatility.
Q5: How has the BMW 2-Series’ price changed?
- The average 3-year-old used BMW 2-Series costs $30,689, with a price drop of -15.8% from 2022. This coupe offers a compact, sporty luxury option that has experienced some depreciation.
Q6: Tell me about the Volvo S60’s pricing.
- The average 3-year-old used Volvo S60 is priced at $29,507, with a -14.4% price drop from 2022. European luxury cars like the Volvo S60 tend to depreciate, despite their appeal.
Q7: What’s the deal with the Audi A5 Sportback’s pricing?
- The average 3-year-old used Audi A5 Sportback costs $32,230, showing a -12.3% price drop from 2022. This sportier alternative to the A4 sedan offers luxurious features and performance.
Q8: How affordable is the Volvo XC40?
- The average 3-year-old used Volvo XC40 is priced at $31,302, with an -11.7% price drop from 2022. If you’re looking for a stylish small SUV, the XC40 stands out among its competitors.
Q9: What’s the deal with the Genesis G70’s pricing?
- The average 3-year-old used Genesis G70 is priced at $30,689, showing a -10.9% price drop from 2022. The G70 competes with the 3-Series in terms of style, comfort, and performance.
Q10: How have Nissan Armada prices changed?
- The average 3-year-old used Nissan Armada costs $32,268, with a -10.8% price drop from 2022. It offers three rows of seats and significant towing capacity, making it a practical alternative.
Q11: Tell me about the 2024 Lexus UX 250h’s pricing.
- The average 3-year-old used 2024 Lexus UX 250h is priced at $32,931, with a -9.9% price drop from 2022. This compact hybrid SUV now offers potential savings if you know where to look.