It’s tempting to want to buy a new car. After all, not much is better than that luxurious new car smell, purr of the engine and the satisfying comfort of leather seats. However, many financial advisors will steer car shoppers away from buying a new car and encourage them to shop used instead to save money.
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GOBankingRates pulled each vehicle’s starting price on new 2024 models from Car and Driver. Then, we utilized Carfax to determine used prices on 2018 models. GOBankingRates also spoke to two auto experts about reliable car models that are much better deals pre-owned than they are when purchased brand new.
See which nine cars the experts recommend buying used and how much you can save buying these vehicles.
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New starting price: $27,555
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Used price: $15,000 to $23,299 (2018 model)
“Camrys are extremely durable,” said Mark Beneke of Westland Auto Sales in Fresno, California. “During their first five years, they depreciate at a rapid pace; but, after that period, the vehicles retain their value very well.”
This means you can drive a Camry for many years and still resell it at a decent price later on. Opting for a 6-year-old used Camry can save you 40% compared to buying new.
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New starting price: $22,775
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Used price: $9,395 to $15,000 (2018 model)
Hyundais like the Elantra provide reliability at an affordable price, especially when purchased used.
“Older models are very durable, fuel efficient, easy to maintain and available at a fraction of the cost,” Beneke said.
You can get a 6-year-old Elantra and save more than 50% off a new one.
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New starting price: $25,355
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Used price: $12,352 to $19,000 (2018 model)
Mazdas depreciate quickly, so they can be scored for deep discounts used.
“This is great for those who are interested in getting a vehicle they can depend on for a long time at a very affordable price tag,” Beneke said.
Buying a 6-year-old Mazda 3 can save you up to 50% compared to new.
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New starting price: $32,995
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Used price: $22,500 to $34,988 (2018 model)
The Tacoma has one of the strongest resale values on the market. “Even a 2001 model today is more expensive than many 2010 [or newer] of other brands,” Beneke noted.
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