In a recent study, iSeeCars.com found several 3-year-old vehicles whose respective prices now are about half of what they were when they were new.
These 2014 model-year vehicles are what iSeeCars calls its 11 Best-Bargains list.
The automotive data and research firm analyzed over 5.8 million car sales to identify models with the greatest loss in value when most leased cars enter the used-car market — after three years.
iSeeCars found through the study that depreciation for each of the 11 vehicles listed was least 1.3 times higher thatn the average for all vehicles after three years, which is 34.5 percent.
The 11 nearly new bargain prices range from $11,853 to $33,727.
“Whether you call them almost new, gently used or lightly used, the fact that auto leases have risen 91 percent in the last five years means a boon for shoppers who want a late-model car at a bargain price,” iSeeCars.com chief executive officer Phong Ly said in a news release.
“While some of the Best Bargains we identified are leased more than others, they all have the most depreciation after three years and they’re great buying opportunities when you look at the data.”
The following is a list of the 11 nearly new bargains, along with their current used price and the rate of depreciation:
11 Best Bargains on Almost-New Cars
Rank Car Avg. 3-Year-Old Used Price % Depreciation
1 Cadillac CTS $ 27,537 51.4%
2 Cadillac ATS $ 21,173 50.4%
3 Mercedes-Benz E-Class $ 33,727 48.4%
4 Mercedes-Benz C-Class $ 23,212 48.3%
5 BMW 5 Series $ 33,474 48.0%
6 Nissan Maxima $ 18,867 47.9%
7 BMW 3 Series $ 24,821 46.9%
8 Infiniti Q50 $ 24,956 46.9%
9 Volkswagen Jetta $ 13,033 46.4%
10 Ford Fusion $ 15,140 45.1%
11 Ford Focus $ 11,853 45.0%
Luxury brands on the list outpace mainstream brands seven to four, and the first-ranked Cadillac CTS and second-ranked Cadillac ATS are the only models in the group to depreciate more than 50 percent.
Eight of the options listed are under $25,000.
The CTS, Mercedes-Benz E-Class and BMW 5 Series are the only models listed above $27,000.
“BMW, Infiniti and Mercedes-Benz all have lease penetration rates above 50 percent,” Ly said. “Luxury brands are known for depreciating at a higher rate because they’re often leased to keep monthly payments down, so this helps create a constant influx of 3-year-old vehicles in the used-car market, driving prices lower.”
At $11,853, the Ford Focus offers the lowest 3-year-old price. Other models with low average prices include the Volkswagen Jetta for $13,033 and the Nissan Maxima for $18,867.