Luxury cars are loaded with comfort and convenience features, but that makes them pretty expensive. However, this doesn’t mean customers can’t score a good deal on a slightly used model.
As part of a study, iSeeCars analyzed more than 4.8 million vehicle sales to determine how much value they lose after three years. According to their findings, the average model has a depreciation rate of 38.2% but certain vehicles fare significantly worse.
The car with the worst depreciation was the Acura RLX which loses 55.8% of its value after three years. This means buyers can pick up the lightly used luxury sedan for just $28,259.
If that’s too pricey, perhaps the Lincoln MKZ is more to your liking. It loses 55.6% of its value after three years and this means buyers can get their hands on one for around $19,855.
If you’re starting to notice a trend, you should. The entire top ten list of vehicles with the worst depreciation was full of luxury sedans.
The Mercedes E-Class came with third with a depreciation rate of 55.4%. This means it fared slightly worse than the Jaguar XF (54.8%) and Cadillac XTS (54.5%). Rounding out the top ten are the Lincoln MKZ Hybrid (54.5%), Kia K900 ($26,522), BMW 5-Series (53.8%), Cadillac CTS (53.8%) and Audi A6 (53.3%).
Those depreciation rates are significantly worse than average and iSeeCars noted drivers could save an average of $32,375 by opting for a three-year old model instead of their new counterpart.
Customers looking to spend less than $20,000 have plenty of options besides the aforementioned Lincoln MKZ. Thanks to a high depreciation rate of 50.2%, a three year old Kia Cadenza can be bought for around $19,508. Other mainstream models with high depreciation include the Ford Fusion Hybrid (49.7%), Chevrolet Impala (49.4%) and Kia Optima Hybrid (49.2%).
Crossovers and SUVs are in high demand, but a handful lose nearly half their value after three years. These include the Lincoln Navigator L (51.6%), Infiniti QX80 (49.1%) and Lincoln MKT (49.0%). On the value side, the Volkswagen Tiguan has a depreciation rate of 47.7% and this means a three year old model costs an average of $16,235.
Trucks are also popular and they have an average depreciation rate of just 32.5%. However, the Nissan Titan XD loses 45.9% of its value after three years.
EVs and cars that originally stickered for $80,000 or more were given their own special categories. The EV side shows why as values plummet an average of 56.6% after three years.
The Fiat 500e has a depreciation rate of 69.7%, while the BMW i3 isn’t far behind at 63.3%. The popular Nissan Leaf also loses 59.6% of its value after three years.
On the high-end luxury side, the BMW 6-Series had a depreciation rate of 56.1%. It was followed by the Maserati Ghibli (55.8%) and Quattroporte (55.5%) as well as the Jaguar XJ (54.4%).