The Audi R8 is a great used supercar bargain
Buying a used supercar is a great opportunity to get top level performance for a fraction of the cost. Many supercars tend to depreciate poorly as new models come out and owners upgrade. The Audi R8 is one car that has been victim to depreciation over its lifetime and now models can be purchased for under $60,000 - or the price of a new A4.
Luxury EV Sedans are Depreciating Fast
It seems like luxury EV sedans have a serious depreciation problem. When looking at the Lucid Air, Tesla S Plaid, or the Mercedes EQS - all those models suffer from over 30% depreciation in their first year. This provides a great opportunity for buyers looking to get one of these models on the used car market for a bargain over their list price. Let's dive deeper into what kind of deals you can expect on luxury EV sedans.
Used Porsche Macan are an attractive luxury SUV option
Porsche has now been making the Macan for over 6 years, and is producing over 100,000 units per year. This means that the used car market is now flooded with cars that came off lease or even 2nd owners selling their Macans as warranties start to expire. This leads to a good opportunity for someone looking for a sportier alternative to the traditional crossover. Lets dive into the state of the used Porsche Macan market.
Does it Make Sense to Buy a Used Electric Car?
At a glance, there are over 21,000 used electric cars for sale in the US right now that are newer than 7 years old (typical age to let you qualify for a car loan), but is it worth buying them? I took a look at used EVs available for sale for under $25,000 and believe if you are looking for a car with more than 100 mile range, it is not worth it buying a used EV. Lets dive into why:
Why are there so many used Rivians available for sale?
Over the past few months I have been closely following the market for used Rivian SUVs and pick up trucks and I am starting to notice an interesting trend. Prices seem to be falling rapidly, and inventory is growing quickly. This raises a lot of questions, as the company did not start delivering any meaningful amount of cars until 2022. That means, people are getting out of their cars quickly and are willing to take a loss on the price they paid. Let's dive in a bit more:
Used Jeep Wagoneer Prices are Falling Fast
Jeep introduced the Wagoneer and Grand Wagoneer to compete with the luxury large SUVs from Cadillac, GMC, and the European brands. With some trims starting at over $100,000, the car became the most expensive Jeep available on the market. However, the used car market has been tough on this car, with models losing over 20% of their value after just one year - something that has been rare in the post pandemic car market. There are now great deals to be found for 1-2 year old Grand Wagoneers if you are in the market for one.
The C7 Corvette is Going to Keep Going up in Value
The 7th generation of corvette is looking like an instant classic and its used prices have not depreciated like a standard car. Being the last front engine corvette ever made, owners are hesitant to sell the cars and many people are holding on. Many cars are listed for close to their original MSRPs from 7 years ago. I believe these cars will start appreciating in value soon and can be a great purchase if you are looking for a high performance car that will not lose value.
4 Used sports cars that will stand out in the crowd
Sports cars are meant to stand out in the crowd, but lately the streets have been flooded with mustangs, camaros, chargers and challengers, as well as many european “M” and “AMG” variants. As manufacturers put sports badges on almost every model, what can you buy that will make you stand out in the crowd and also give you the thrill of performance driving? I wanted to share 4 unique used cars that I think you can get a great deal on right now that will be sure to make a splash at your local gas station or car meet.
It Does Not Make Sense to Buy a Used Ford Ranger
The new Ford Ranger has had some of the most resilient used car prices of any recent car, especially a relatively cheap pickup truck. While usually I am a supporter of buying 2-4 year old cars to take advantage of your typical 30% depreciation, in the Ford Ranger case it does not make any sense to buy a used car and you might as well buy a new car.
The Mazda CX-5 is my favorite sub $20,000 SUV
SUVs offer a lot of practicality to their buyers, but they also come at a higher price point than many sedans. It is getting harder to find value in the SUV market. The Mazda CX-5 has managed to remain a great deal in the used car market and a great buy for anyone looking for a used SUV.
The Mustang GT350 is a future classic
When the prior generation Mustang GT350 came out, journalists raved at the marvel that is the engine and the overall driving experience of the car. It was awarded a Car and Driver “Top 10” Car of the Year and received many other awards. It has now been over 6 years since the car’s debut and it seems like interest is once again picking up in the car. I think this will become one of the iconic Mustangs in the future and buyers should look at this car before prices increase more.
Cheaper alternative to buying a new Accord or Camry
The Toyota Camry and Honda Accord are some of the most popular sedans on the market, but over the past few years their price has steadily increased to a point where it is almost impossible to buy one for less than $30,000 if you want a well optioned model. I think a used Genesis sedan presents a cheaper and more luxurious alternative to buying one of these two cars new.
Fun Car Fridays: Buying a sub $100,000 Ferrari
Being a lifelong car enthusiast, owning a Ferrari has always been a pinnacle goal and aspiration. However, that dream is typically hard to afford for a new model, with most being over $300,000 and the used market not being any better with many cars going for above MSRP. I wanted to dive a bit deeper and see if there are any Ferraris whose price has remained steady and can be purchased for less than $100,000, or the same price as a new Corvette.
How can you get a Model 3 for less than $30,000?
When the Model 3 first came out from Tesla, Elon Musk promised that he will make a car for the masses. An electric car under $35,000 for an incredibly appealing offer, but now over 3 years after the car was released the low end model is still nowhere in sight. The models that first rolled off the assembly line were priced closer to a BMW 5 series than an affordable Camry. Now, after a couple of years of depreciation and the disappearance of the waiting list, you can finally get a Model 3 with low miles for under $30,000
Fun Car Fridays: 1990s Bentley Tubo R
As part of my research process I spend a lot of time on car auction sites looking at listings. I want to highlight some of the ones that I think are interesting and showcase good value. This week it was a 1991 Bentley Turbo R
Buying an Almost New Car for $15,000
An average new car now costs over $46,000, leaving a lot of people unable to afford one. What do you do if you are on a tighter budget, but do not want to buy an old car or something with over 100,000 miles on the clock. I gathered my top options currently available.
Why Now is the Best Time to Buy a Used Range Rover Defender
The Range Rover Defender lost over 50% of its value in just 2 years. I explain why now is the best time to get a great deal on this capable SUV