- iSeeCars has compiled a list of 10 cars with the highest depreciation after three years for potential customers looking to purchase used cars.
- The average car depreciates 39.1% after three years, which is the average length of a car lease, according to the car search engine and automotive research firm.
- The list is topped by the Audi A6, which depreciates on average of 55.8% after three years, giving it an average price of $US27,890.
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iSeeCars has compiled a list of 10 cars with the greatest depreciation after three years – the average leasing term length – for consumers looking to purchase a used car this year.
According to the car search engine and automotive research firm, this summer will see an “influx” of off-lease cars.
The average car depreciates 39.1% after three years, according to the car search engine and automotive research firm. However, iSeeCars identified 10 cars with a three-year depreciation between 51% to 55.8%, making the vehicles on its list the best deals for customers looking for used, three-year-old cars.
“Three years is a popular age for used car buyers because the cars have taken a major depreciation hit, but likely have many of the latest modern safety and technology features,” iSeeCars CEO Phong Ly said in a statement for the study.
Of the 10 cars on the list, one is a luxury SUV and eight are luxury sedans, including the top spot: the Audi A6. According to iSeeCars, the A6 has an average price of $US27,890 after three years, giving it a 55.8% depreciation and an average of $US35,208 worth of savings compared to its new car price.
According to Ly, luxury vehicles make up the majority of the list because of their frequent leases, which then creates a surplus of used luxury cars after the leasing term is over. And because SUVs are more in-demand than other segments, luxury sedans are often left behind with reduced prices.
iSeeCars analysed over 5.7 million new cars from the 2017 model year sold between January to June 2017 and compared those prices with over 1.2 million used cars from the same model year sold during the same months, but three years later in 2020. To accurately compare, iSeeCars adjusted the 2017 prices for inflation and found the averages.
Cars discontinued after the 2020 model year, heavy-duty vehicles, and low-volume cars were not included in the study.
10. Audi A4 — 51% three-year depreciation
According to the study, the average price of a used A4 after three years is $US22,413. This equates to an average of $US23,292 in savings compared to new.
The Audi A6 has a good driving performance and interior, according to Ly.
9. Infiniti QX60 — 51% three-year depreciation
The QX60 is the only luxury SUV on the list and has an average three-year-old used price of $US25,967. This allows customers to save approximately $US27,078 compared to purchasing it new.
iSeeCars hypotheses that the QX60 is the only SUV on the list because it’s not as popular as other mid-sized SUVs, giving it a greater value loss.
8. BMW 4 Series — 51.7% three-year depreciation
The 4 Series’s 51.7% depreciation gives it an average three-year-old used price of $US26,998, amounting to about $US28,893 in savings.
7. Infiniti Q50 — 51.8% three-year depreciation
The average price of a three-year used Q50 is $US23,140, resulting in a 51.8% loss in value and an average of $US24,843 in savings.
6. Lincoln MKZ — 51.8% three-year depreciation
The 2017 MKZ’s three-year depreciation gives it an average price of $US21,517, resulting in approximately $US23,112 in savings.
5. Mercedes-Benz E-Class — 52.7% three-year depreciation
A three-year used E-Class can save customers approximately $US34,990 compared to new with its average decreased price of $US31,454.
4. Volvo S60 — 53.2% three-year depreciation
The S60’s average three-year used car price is $US19,702. This amounts to around $US22,405 in savings.
3. BMW 3 Series — 53.4% three-year depreciation
Customers can save $US26,074, compared to purchasing it new, on a three-year used BMW 3 Series, which has an average price of $US22,718. According to iSeeCars, the 3 Series is one of the most popular small luxury cars.
2. Ford Fusion Hybrid — 54.9% three-year depreciation
The Ford Hybrid is the only non-luxury vehicle on the list and has an average three-year used price of $US13,565, equaling around $US16,480 in savings.
According to the study, a new non-hybrid Ford Fusion is $US3,500 less expensive compared to its hybrid counterpart, but around $US1,000 more expensive when comparing the two Fusions used.
1. Audi A6 — 55.8% three-year depreciation
According to Ly, the Audi A6 also has a good driving performance and interior.
The average price of the A6 after three years is $US27,890, amounting to savings that average $US35,208.
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