As used-car prices and wholesale values continue to rise, dealers may find it even harder to sell a consumer on a used unit that shoppers might be able to find new for a similar price.
And with gas prices on the rise and technology constantly moving forward, is it better to buy a new gas sipper or an old one?
With used prices increasing and dealers potentially wondering how close they will come to their new-car price tags, AOL Autos covered this very issue, highlighting analysis from Kelley Blue Book.
“Kelley Blue Book, after crunching the numbers, found 10 vehicles that have just barely more expensive — or even cheaper — monthly payments for the new 2012 version of the vehicle versus the used 2011,” AOL Autos highlighted.
Ranging from the fuel-efficient Honda Civic Hybrid to the quirky Nissan Cube, the monthly payments on these units — new or used — sit side-by-side.
Here is the list KBB and AOL Autos came up with, along with commentary from AOL Autos:
10. Toyota Corolla LE
MSRP: $16,130 – $17,990
Fuel Economy: 27 mpg City, 34 mpg Highway
Monthly Payment + Fuel (New): $434
Monthly Payment + Fuel (Used): $412
“This perennial favorite in the small sedan segment is only $22 more per month for the 2012 versus the 2011 model.”
9. Nissan Juke S
MSRP: $19,990 – $25,780
Fuel Economy: 27 mpg City, 32 mpg Highway
Monthly Payment + Fuel (New): $519
Monthly Payment + Fuel (Used): $501
“The polarizing design may turn off some car shoppers, but the fact that you can get in a brand new 2012 model for only $18 more than a used 2011 is pretty tantalizing.”
8. Mini Cooper
MSRP: $19,500 – $24,950
Fuel Economy: 29 mpg City, 37 mpg Highway
Monthly Payment + Fuel (New): $484
Monthly Payment + Fuel (Used): $468
“The Mini Cooper is an AOL Autos favorite. You can get the fun to drive, gas sipping 2012 model for only $16 more per month than a 2011.”
7. Nissan Cube
MSRP: $14,980 – $18,520
Fuel Economy: 25 mpg City, 30 mpg Highway
Monthly Payment + Fuel (New): $416
Monthly Payment + Fuel (Used): $401
“Another polarizing design, but if you can get past its weird breadbox geek-mobile exterior, the Cube is a solid buy, especially new. An extra $15 a month will give you that new car smell.”
6. Chevrolet Equinox LT
MSRP: $23,530 – $30,970
Fuel Economy: 22 mpg City, 32 mpg Highway
Monthly Payment + Fuel (New): $589
Monthly Payment + Fuel (Used): $579
“Recently picked as our Smartest CUV buy under $30,000, the Equinox is also one of the best vehicles to buy new.”
5. Hyundai Elantra GLS
MSRP: $15,345 – $20,595
Fuel Economy: 29 mpg City, 40 mpg Highway
Monthly Payment + Fuel (New): $435
Monthly Payment + Fuel (Used): $427
“The reigning North American Car Of The Year, and selected by AOL Autos as the best overall car under $20,000, the Elantra can be had brand new for a measly $8 more per month than the used 2011.”
4. Honda Civic LX
MSRP: $15,605 – $26,155
Fuel Economy: 28 mpg City, 36 mpg Highway
Monthly Payment + Fuel (New): $424
Monthly Payment + Fuel (Used): $416
“The 2012 Honda Civic hasn't received the best press, but that doesn't necessarily make it a bad car or bad buy. The Civic is still a Honda. It's going to be reliable, get great gas mileage and have very good resale value. Indeed, the monthly payment on a 2012 is only $8 more than the 2011.”
3. Honda Civic Hybrid
Fuel Economy: 44 mpg City, 44 mpg Highway
Monthly Payment + Fuel (New): $494
Monthly Payment + Fuel (Used): $490
“It's hard to argue with 44 mpg on the highway and in the city. A brand new Civic Hybrid is just $4 more per month than a used 2011.”
2. Volkswagen Jetta SE
MSRP: $15,515 – $26,695
Fuel Economy: 24 mpg City, 34 mpg Highway
Monthly Payment + Fuel (New): $454
Monthly Payment + Fuel (Used): $450
“The 2012 Jetta is a part of Volkswagen's impressive new lineup. You can get brand new German engineering for $4 more per month than a used Jetta. That's a deal. And with that you get more of the standard warranty.”
1. Subaru Impreza 2.5i
MSRP: $17,495 – $29,095
Fuel Economy: 25 mpg City, 34 mpg Highway
Monthly Payment + Fuel (New): $444
Monthly Payment + Fuel (Used): $469
“Incredibly, a brand new 2012 Subaru Impreza is substantially cheaper than a used 2011. If you're shopping Impreza, buying new is a no- brainer.
“Subarus have long been terrific on resale value and reliability. A re-pricing of the all-new Impreza design has resulted in it being a better value than the used version of the previous design.”
To view the original AOL Autos story, see here.
KBB Spots Hottest New Cars on Market
With gas prices on the rise and the climb not expected to slow down anytime soon, it may not come as a surprise that consumers are turning their heads towards smaller more fuel-efficient units. And Kelly Blue Book’s latest Hot Car Report reflected this trend.
Three new-vehicle models in particular saw a boost in shopping activity: the Acura RDX, Buick Verano and Subaru Legacy.
KBB also highlighted some reasons behind why these units may be catching consumers’ eyes.
“Acura debuted changes to the 2013 RDX, including a roomier interior and better gas mileage on both the standard and all-wheel drive trims,” surmised Akshay Anand, market intelligence Web analyst, analytic insights division at kbb.com.
“In addition, Acura added more horsepower under the hood while swapping its turbo four cylinder for a V6. The RDX has a starting manufacturer’s suggested retail price of $34,320,” he added.
The Acura RDX came out on with a 95.2 percent increase in shopping activity this past week.
Moving along, Anand attributed some of the Buick Verano’s recent popularity to the airtime it’s been getting, especially with basketball fans tuning into March Madness.
“The increased interest in the Verano has translated well since its December 2011 debut. In December, Buick moved 265 Verano units and in February, that number jumped to 1,688,” Anand explained.
“At an attractive price point under a new Buick nameplate, the model’s success is no surprise,” he added.
This unit came in at No. 2 on the Hot Car Report, with 73.7-percent growth in shopping activity.
And perhaps what is spurring some of the consumer interest in the Subaru Legacy is the OEM's new driver assistant technology. Auto Remarketing covered the new program in a story here.
KBB also attributes the unit’s popularity to its new safety features.
“The Subaru Legacy clocks in with a 30.8-percent share gain thanks to news of the 2013 model-year’s added safety features, including its ‘EyeSight’ technology designed to detect obstacles and help avoid crashes,” Anand shared.
The Legacy saw a 30.8-percent increase in shopping activity this past week.
And wrapping up the top five models, the Volkswagen Passat saw a 13.4-percent increase in shopping activity, and the Honda Odyssey came in at No. 5. with an 11.8-percent increase.