As an influx of off-lease vehicles is expected to enter the market this summer, a new study by car search engine iSeeCars.com reveals which 3-year-old used cars depreciate the most to present the best deals for consumers.
While the average vehicle depreciates 39.1 percent after the average car lease term of three years, the highest-depreciating vehicles lose more than half of their value, resulting in significant savings for consumers opting to buy a 3-year-old vehicle instead of a new one.
iSeeCars.com analyzed more than 6.9 million car sales to identify models with the greatest loss in value after three years. “Three years is a popular age for used car buyers because the cars have taken a major depreciation hit, but likely have many of the latest modern safety and technology features,” said iSeeCars CEO Phong Ly. “ Some of these bargains provide good opportunities for car shoppers as reliable vehicles that are discounted because they simply aren’t as popular in their vehicle segments.”
Read the article at iSeeCars.