You shouldn't buy these 10 cars new
Depreciation hits some cars harder than other. Traditionally, we expect luxury cars to be affected the most. The research group iSeeCars did a study to figure out which cars are the ones you’ll want to buy used in order to use depreciation to your advantage.
There are pluses and minuses to buying slightly used, and iSeeCars.com CEO Phong Ly does a good job explaining the situation. “While purchasing a new car offers peace of mind, waiting a year and purchasing the same vehicle lightly used can amount to significant savings. Consumers who buy a lightly used car can still take advantage of the remaining manufacturer warranties and can have the car inspected by an independent mechanic prior to purchasing to ease any uncertainties about the vehicle’s condition and driving history,” Ly said.This list counts down the top 10 cars with the greatest difference in new price versus lightly used versions. We organized them by percentage to make it fair amongst cars with a wide variety of prices. Click on the first slide to begin.
10. Hyundai Accent
Hyundai Accent: -31.0 percentThe Accent is the bottom of the barrel when it comes to Hyundais, and the reputation clearly doesn’t help when it comes to resale figures. That’s your gain if you're in the market for a nice car though, because we found the new Accent to be a pretty respectable vehicle to drive around in. It was redesigned for the 2018 model year, but nowadays most people would rather have a subcompact crossover like the more expensive Hyundai Kona.
Hyundai Accent Information
9. Kia Optima
Kia Optima: -31.3 percentAnother Korean sedan makes the top 10 list with the Optima. Sedans will be a theme you’ll see more of here as demand dwindles for the classic body style. Most manufacturers still believe there’s a lot of pie to be had in this segment, but the conditions don’t appear to be helping resale numbers.
Kia Optima Information
8. Hyundai Santa Fe Sport
Hyundai Santa Fe Sport: -31.4 percent
Our first crossover on the list also happens to be made by Hyundai. Now that we’ve reached the 2019 model year, the Santa Fe Sport is just the Santa Fe. This study took place before the new Santa Fe became available, so we can’t be sure how different it is with the redesigned model.
We recently drove the new Santa Fe, and are happy to report that it’s significantly better than the model it’s replacing.
Hyundai Santa Fe Sport Information
7. Nissan Altima
Nissan Altima: -32.6 percent
Finally, Hyundai and Kia get a break, and the Altima steps into the mix. The new 2019 Altima is leagues ahead of the old one, which could cause the resale price to dip even further for the old Nissan.
It’s hard to recommend buying a one-year-old Altima now that we’ve driven the new car, even with the massive discount you’re likely to get. Only time will tell to see if the new sedan is affected as badly as the 2018 model year.
Nissan Altima Information
6. Infiniti Q50
Infiniti Q50: -33.1 percent
Here’s the first luxury car we’ve seen on this list, which is a surprise considering the heavy depreciation most luxury vehicles experience as they leave the dealer lot.
Infiniti's 3 Series competitor is a good entry in the segment that tends to produce some strong opinions, both negative and positive. At this point, it’s getting fairly long in the tooth, but a full redesign in a year or two probably isn’t out of the question. Go for the Red Sport 400 if you like high horsepower V6 engines.
Infiniti Q50 Information
5. Ford Fusion Hybrid
Ford Fusion Hybrid: -34.3 percent
The Fusion Hybrid is the only electrified model we’ll see on this list, and it was relatively affordable to begin with compared to others like it. This particular car will be discontinued soon, as Ford inches toward its end game for many of its cars.
Ford was able to get pretty good fuel economy numbers out of this sedan, despite some controversy around overstating them to begin with. If you’re in the market for one, it’s good to see prices probably won’t gouge you too badly.
Ford Fusion Information
4. Infiniti QX80
Infiniti QX80: -34.9 percent
This one makes a lot of sense, because the QX80 is so expensive to begin with. According to this study, it loses an average of $26,188 off of its sales price after just one year.
That’s a serious chunk of change, and might actually be a big enough discount to consider buying one of these behemoths. Surprisingly, it’s the second and last luxury vehicle to make the top 10, with the Infiniti Q50 being the only other.
Infiniti QX80 Information
3. Chevrolet Impala
Chevrolet Impala: -36.4 percent
Chevrolet recently decided to follow Ford and clear out a lot of its slow-selling sedans. The Impala is one of the casualties in this offing, and it won’t be around much longer.
Buying one on the used market definitely seems like the way to go with this model, especially because it hasn’t changed a whole lot as of late. A lot of them might just be rental car fleet vehicles, but the Impala is one of the better cars in that group.
Chevrolet Impala Information
2. Kia Sedona
Kia Sedona: -37.8 percent
A minivan comes in at number two on this list, which is a clear departure from the rest of the sedans we’ve been seeing. It’s always hard to beat a van for its utility, so seeing a ton of money knocked off a van could be great news for a growing family.
Kia Sedona Information
1. Ford Expedition
Ford Expedition: -38.5 percentThe big Ford truck comes in at number one on this list of cars you shouldn’t buy new. This SUV loses a whopping $24,690 after a year of use, which is far too much to deal with as a new car owner. The benefits of a new car warranty for a bit longer are great, but not taking this kind of a financial hit is definitely an attractive option. The Lincoln Navigator (Lincoln equivalent to this car) doesn’t appear to lose anywhere near as much value, so it could be worth it to invest in the much nicer vehicle in this case.