The top 20 cars to buy used and the top 20 cars to buy new

(iSeeCars) –

• The average lightly used car costs $5,778, or 12.8 percent, less than its new-car equivalent
• The no. 1 vehicle to buy used over new is the Mercedes-Benz EQS, which loses 47 percent of its value, pricing it $65,000 below its new-car cost after just one year
• The Nissan LEAF, Jaguar F-PACE, Alfa Romeo Guilia, and Kia EV6 all lost over 33 percent in value after one year, making them excellent lightly used car values
• The no. 1 vehicle to buy new over used is the Land Rover Range Rover. The used version actually costs $4,000 more than a brand new model, making this a prime example of a better vehicle to buy new versus used
• The Kia Rio, Mercedes-Benz G-Class, Ford Maverick, and Toyota Sequoia all lost less than 5 percent in cost after one year, making them better new car purchases 
• Eight out of the 20 best cars to buy used are electric vehicles; seven out of the 20 best cars to buy new are hybrids, with two Teslas also making the “buy new over used” list

Price can be a major factor in the decision whether to buy a used car or new one. While the average new car costs $45,106 and loses 12.8 percent of its value after one year,  some cars lose considerably more value a year after purchase, making them excellent “like new” value used cars. Conversely, other cars maintain their near-new pricing even after 12 months and 10,000-plus miles of use. Used car shoppers considering one of these lightly used models are getting minimal savings and should probably buy a new model instead.

iSeeCars analyzed over 1.6 million new and lightly used cars to determine which used models offer the biggest savings compared to new and which lightly used vehicles are so pricey that buyers should skip the used versions and buy new. The rankings offer a starting point to help shoppers narrow down their choices or find more vehicles to consider, based on price.

20 Best cars to buy lightly used: One-year-old models that offer big savings 

“Car buyers seeking the best value often shop used models instead of new,” said Karl Brauer, iSeeCars executive analyst.“While a used car almost always costs less than it did new, some models lose more than 25 percent of their value after just one year, giving buyers a near-new ownership experience at a substantial savings.” 

All of the cars on this list lost at least 28 percent of their value in one year, with the Mercedes-Benz EQS and Nissan LEAF losing close to half their value. With electric vehicles making up five of the top 10 cars that lost value after one year, it’s clear used buyers don’t have the same affinity for EVs as new buyers. (This follows the same trend of massive EV price drops found in iSeeCars’ recent Used Car Pricing study.) In addition to the eight total electric vehicles, most of these are luxury cars or older models in need of a redesign.

20 Best cars to buy new: Cars that cost so much used, might as well buy them new

“Buyers seeking used car value should avoid these cars, which offer less than a 10 percent savings compared to a brand new model,” said Brauer. “At these prices, shoppers are better off simply buying a new model and getting the full new-car experience at a slightly higher cost.” 

* Average prices for new Teslas were estimated by applying used car trim distribution to pre-rebate new car MSRPs as of March 2024.

Hybrids make up five of the top 10 lightly used models that retained their value, suggesting an increasing awareness and appreciation for the benefits of hybrid technology. After years of seeing used cars costing more than new models due to pandemic supply chain issues, the Land Rover Range Rover is the only slightly used model to retain that status. The Range Rover is built in limited quantities and appeals to highly affluent buyers. Clearly that buyer base is willing to pay more to avoid waiting for a new model to arrive at their local dealer.When looking at brands on the list, Toyota leads with five models, followed by Chevrolet and Honda with three each. Despite its aggressive price cuts over the past year, Tesla’s Models X and Y still rank in the top 20.

Buying on a budget: Which cars to buy used or new at different price points?

For buyers with a specific budget, iSeeCars identified which cars offer the best deals across different price ranges. The top options to buy used versus new and new versus used are listed for each range, based on vehicle prices.

Under $20,000 budget

Today’s new and lightly used car pricing means there are limited options for sub-$20,000 shoppers. But the Nissan LEAF and Mitsubishi Mirage make excellent candidates to get a big discount on slightly used versions. On the other hand, the Kia Rio holds its value so well that slightly used models only save $21. Probably should just buy a new one.

$20,000 – $30,000 Budget

The Nissan Murano is due for a redesign, as market demand confirms. Losing almost a third of its value makes it an excellent lightly used purchase. The same can be said for the Audi A3, Chevrolet Bolt and Bolt EUV, and Mini Hardtop, which are all available for at least 25 percent off their lightly used prices.

Japanese economy cars have seen a rebound in demand in recent years, likely due to rising fuel costs and reduced consumer spending power. The result is strong pricing for cars like the Toyota Corolla, Honda Civic, and Nissan Versa and Sentra. These vehicles hold their value so well, you’re better off buying a new model instead of a slightly used one.

$30,000 – $40,000 Budget

Two Alfa Romeos and three electric vehicles saw the biggest price drops after a year in the mid-level/entry-luxury price range. All of these vehicles lost about a third of their value, which at this price point means a savings of $15,000 to $18,000. 

Are hybrids popular with today’s car buyers? They are four of the top five models at holding their value in the $30,000 to $40,000 price range, suggesting the answer is yes. The Ford Maverick, in hybrid or gasoline form, has also been a hot property for since it debuted in 2022, proving there was pent-up demand for a small, fuel-efficient pickup truck.

$40,000 – $50,000 Budget

The Dodge Durango and Lincoln Nautilus are nearing the end of their current generations, which has their prices falling dramatically after just one year. The Audi Q5 Sportback and Mercedes-Benz GLC have been redesigned in just the past few years, but like many luxury models they suffer a greater drop in value compared to mainstream brands. The Jeep Wrangler is among the strongest vehicles for long-term retained value, but the hybrid version apparently loses a sizable chunk of value after one year.

Tesla’s Model Y is the newest electric vehicle in its line up and market demand remains strong, especially compared to other Tesla models. The Chevrolet Traverse and Kia Telluride are popular three-row SUVs, while the Toyota Tacoma is a perennial favorite, in high demand, among midsize truck buyers. Kia’s Carnival minivan is among the newest in that category, and includes plenty of unique family friendly features. Enough, apparently, to keep its value high for lightly used models.

Regardless of budget, buyers seeking a new-car experience at a substantial discount can find it at every price point. Conversely, used car buyers focused on a specific model should always consider how much they will, or will not, be saving by shopping used. If the cost savings is less than 10 percent it makes sense to consider spending a little more for a brand new vehicle. 

More from iSeeCars.com:

• Aggressive Tesla Price Cuts Pummel the Used EV Market
• Best SUVs
• Best Cars for the Money

Methodology

iSeeCars analyzed over 1.6 million new and lightly used cars listed for sale from January through March 2024. New cars included in the analysis were from model years 2023 and 2024, while lightly used cars were defined as used vehicles from model years 2022 and 2023 with mileage within 20 percent of 13,476 miles, the average miles driven per year. Low-volume models and models discontinued as of the 2023 model years were excluded from further analysis. The average asking prices of the lightly used cars were compared to those of new cars from the same model. The difference in price for each car was expressed as a percentage of the new average prices and ranked by this difference.

About iSeeCars.com

iSeeCars.com is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, including the iSeeCars VIN Check report and Best Cars Rankings. iSeeCars has saved users over $414 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.

This article, The Top 20 Cars To Buy Used and the Top 20 Cars To Buy New, originally appeared on iSeeCars.com.