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Car Buying, Car Values, Certified Used (CPO)
#1 of 970 Used Vehicles: Best Values
by Kirstie@Edmunds HOST
May 31, 2005 (7:20 am)
We've had a lot of questions about which vehicles are the best value for pre-owned purchase. Ask questions and post your opinions here!
#2 of 970 For the casual driver
May 31, 2005 (9:14 am)
I always recommend late model, low mileage domestics such as Taurus, Impala, etc. These models have low resale values and can be bought at very good prices. They are also reliable enough to give many good years of service. See also: Galant, Mazda6, etc.
#3 of 970 Best (entry level) luxury used values?
May 31, 2005 (10:13 am)
What do you guys think are good used values for entry-level luxury or luxury cars?
How about Infinity I30/35 or last model Acura RL? I noticed 2002 RLs with less
then 40000 miles can be bought for not much more than $20k.
#4 of 970 Re: Best (entry level) luxury used values? [greenice]
May 31, 2005 (10:45 am)
exactly the type of car I was about to post on.
Personally, my money is on a Volvo in this case. A few years back, I purchase my (then) 3-year-old off-lease S70 T5 with 30K miles for $20K. That's not much more than half its original sticker. These days, its still similar dealings on S60s.
The 2 you mentioned aren't bad deals, either, but it depends on what you're looking for. Based on my personal preferences, I'll most likely be looking for another used Volvo when mine dies.
#5 of 970 Re: For the casual driver [benderofbows]
May 31, 2005 (10:50 am)
The Mazda is my top choice out of that group of cars.
Only thing is (and this goes for the Volvo i just mentioned, too), you gotta like the car because even buying it 2 or 3 years old does not exempt you from suffering harsh depreciation in the coming years.
#6 of 970 Used Car Values
Jun 01, 2005 (5:40 am)
A used Hyundai or Kia, because they depreciate like a rock and I think they made the warranty transferable now- not sure about that.
I always like to recommend the Ford Taurus, Chevrolet Impala, Mitsusbishi Galant, Infiniti I30/I35 (although resale on those are fairly high) the Saabs (sure, after a while they develop problems, but if you can find one with low miles, it can be a cheap, prestigious, fairly luxurious automobile) and Volvos.
I try to tell people to stay away from Lexus, Honda or Toyota. Resale on a ES330, Accord or Camry is outrageously high. Especially on a Lexus.
The local Lexus dealer had a CPO 2004 ES330 with 25,000 miles on it for $31,000. Why would I even consider a year old one with high miles when a brand new one can be had for just $2,000 more?!
I always say, if you want a Lexus and are looking at used ones, ask yourself, can you afford the extra $2,000-$3,000 for the brand new one? If the answer is yes, then get the brand new one.
#7 of 970 Used car values
Jun 01, 2005 (6:58 am)
I personally like used Hondas, Toyotas, and Mazdas, because even though the first two cost more than other used cars, I have a lot of faith that they will be reliable over the long haul and cost less over time than others. There are also lots of choices among dealers and independent mechanics because people are familiar with them. Subarus, Saabs, and Volvos are more iffy when it comes to good service and cheap parts ( not even a possiblity with a Volvo!). Pay money up front or down the road, it's a choice.
#8 of 970 Re: Used car values [suydam]
Jun 01, 2005 (8:01 am)
Its definitely a possibility with a Volvo.
Based on maintenance costs of the particular jobs I've done or had done on both my Volvo and Honda, the Volvo has been cheaper.
#9 of 970 Re: Used car values [qbrozen]
Jun 01, 2005 (8:55 am)
That's interesting to hear. I have several friends, who love their Volvos dearly and wouldn't own anything else, but they have all said that Volvo parts are more expensive than comparable parts for other cars. I'm happy to stand corrected as I don't own a Volvo.
#10 of 970 Re: Used car values [qbrozen]
Jun 01, 2005 (10:43 am)
You are kidding...right?
I see the repair bills from the Volvo dealer on some of the Volvos we take in as trades!
With a Volvo, it seems like something is ALWAYS wrong and it's usually something electrical. Check engine light on, ABS light etc.
When they need brakes, they usually need rotors etc...
Nice cars to drive to be sure but as they age they can become big time money pits. At least that's what I see.