Buying a used car in 2019 doesn’t have to be expensive. In fact, there are plenty of vehicles you can get for under $20,000.
The vehicle search engine iSeeCars.com recently released a list of best bargains on lightly-used cars under $20,000, including everything from full- and mid-size models to compact cars and SUVs.
Report: Here are the best used car deals under $20,000
A sticker price under that amount is about right for a new driver, recent graduate or anyone looking to save money on a used vehicle.
To be clear, this is not a list of the best cars for under $20,000, but rather the best deals based on price drops after depreciation. Here are the best used cars for 2019.
iSeeCars.com analyzed more than 4.8 million car sales to identify models with the greatest loss in value after three years. The top 10 vehicles all depreciated more than 1.4 times the 38.2% average for all vehicles.
The list below shows not only the used vehicle, but its price after three years and depreciation figures.
iSeeCars Best Used Car Bargains Under $20,000
|Rank||Car||Avg. 3-Year-Old Used Price||% Depreciation||Depreciation Compared to Average|
|3||Ford Fusion Hybrid||$14,844||49.7%||1.3x|
|5||Kia Optima Hybrid||$16,381||49.2%||1.3x|
|10||Hyundai Sonata Hybrid||$16,303||47.0%||1.2x|
|Average for Comparably Priced Vehicles||39.3%|
As you can see, many of the best used car bargains under $20,000 are hybrids. iSeeCars.com CEO Phong Ly says there’s a good reason for that.
“New hybrid vehicles are more expensive than their non-hybrid counterparts with the Kia Optima Hybrid costing an additional $4,303,” Ly says. “However, there isn’t a high demand for these hybrid vehicles, and their steep depreciation brings their resale value close to that of their non-hybrid versions.”
Ly says the average price of a three-year-old Fusion Hybrid is only about $200 more than a gasoline-powered Fusion.
However, iSeeCars.com notes that non-hybrid versions of these vehicles also depreciate at an above-average rate due to the overall decline of the sedan market in the United States.
Before you purchase any used vehicle, check Consumer Reports for reliability information. It’s one of Clark’s 7 steps to buying a used car!