Summer’s best car deals are used cars

By MATT JONES

Edmunds

According to Edmunds data, many of the best deals can be found on pre-owned vehicles. And this news is great if you’re looking to score some serious savings.

Used-car values have held steady in recent years, so the price difference between a new vehicle compared to a 2- or 3-year-old used version hasn’t always been very significant. But the gap between new and used pricing is widening, making used cars a better value than they were just a few years ago.

To find out how much, we combed through millions of recent vehicle purchase transactions. We then focused on pre-owned 2016 vehicles and compared them to 2019 versions of the same vehicle to uncover some noteworthy deals.

Our examples also had to meet four criteria:

The used vehicle must be in the same generation as its new counterpart, which means the 2016 and 2019 versions are fundamentally the same.

The savings had to be at least 30 percent.

The vehicles had to be widely available.

And finally, the used vehicle needed to have an overall positive Edmunds review.

COMPACT SEDAN

Toyota Corolla

Average purchase price for a new 2019: $20,557

Average purchase price of a used 2016: $13,936

Savings: 32 percent

What our editors said: “We’ve found it doesn’t inspire much excitement, but its sensible blend of fuel economy and value are definitely appealing.”

MIDSIZE SEDAN

Hyundai Sonata

Average purchase price for a new 2019: $24,790

Average purchase price of a used 2016: $14,667

Savings: 41 percent

What our editors said: “The Sonata has plenty of passenger room and a quiet, easy-to-live-with demeanor. It also drives confidently, boasting a smooth ride quality paired with enough athleticism so it won’t float around on the highway.”

SMALL SUV

Mazda CX-5

Average purchase price for a new 2019: $29,839

Average purchase price of a used 2016: $19,133

Savings: 36 percent

What our editors said: “It has an engaging driving character, yet it still gives you pretty much everything you’re looking for, including great fuel economy.”

MIDSIZE SUV

Ford Edge

Average purchase price for a new 2019: $39,338

Average purchase price of a used 2016: $22,200

Savings: 44 percent

What our editors said: “It’ll fit your family of four with room to spare and still fit into your garage with ease. It also boasts the latest technology, a smooth ride and a wide range of engines.”

LARGE SUV

Chevrolet Suburban

Average purchase price for a new 2019: $63,020

Average purchase price of a used 2016: $39,773

Savings: 37 percent

What our editors said: “The Suburban combines massive passenger, cargo and towing capabilities in a way that few other vehicles can.”

TRUCK

Ford F-150

Average purchase price for a new 2019: $51,612

Average purchase price of a used 2016: $30,923

Savings: 40 percent

What our editors said: “With models that boast the highest tow rating, biggest payload and best gasoline fuel economy in the half-ton segment, Ford’s switch to a revolutionary all-aluminum body has paid off in a big way.”