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.

Background on the CX-5

Mazda has been making a midsize SUV for many years, with the CX5 first coming out in 2012 and the current generation debuting in 2017. The current generation is known for its strong styling, with many people comparing the new Ferrari SUV profile to the Mazda. The current model starts at about $27K and can go all the way up to over $40k for the models with a turbo engine. Used car pricing for these cars has remained fairly steady over the past 5 years and they have retained their value well.

Why is a used Mazda CX-5 a good value?

If you are shopping in the $17 - $20K range you are going to be able to afford a 2019/2020 model so you are getting the latest generation. You will also be able to find examples with 50-75K miles. If you look at comparable Honda CRVs, you will be getting and older and higher mileage car for the same price range. The Mazda also is able to offer some luxury features in that price point as some models have lane keep assist, heated steering wheels, and leather interiors.

You are someone that likes getting new vehicles

The great part about a lease is that typically it's only 3 years. That means at the end of your 3 year term, it's very easy to get a new car. You don't have to worry about selling your old one, being underwater on a loan, or negotiating trade in value. Most manufacturers also typically offer generous “returning lessee” incentives to get you into a new car. In many cases, you can exit your lease early, especially if the value of your car is above the “buy out” price. In my experience, I was able to trade in my car after only 1 year on a 3 year lease.

What does the market for used Mazda CX-5s look like?

As with all used cars, prices for these went up by about 20% in 2020-2021. Prices have since decreased a bit, but are still up ~15% from their historical averages. As the price of new cars keeps going up, we can expect the price of used cars to rise as well. However, there are a lot of cars available for sale, with over 1000 currently listed on AutoTrader. This means there is going to be availability for you to negotiate on price and shop around with multiple dealers.

Is now a good time to buy?

It is always hard to predict the used car market, but Mazda has been able to steadily produce new cars and the long term price has been a lot steadier than some other car models. There is no reason to believe the price will significantly increase or decrease in the next few months. If you are in the market for a used mid size SUV this is a great option and a good time to purchase.