Thinking of Buying a New Ford Expedition, Nissan Leaf, or Infiniti QX80? Read This Story First
We love the Nissan Leaf, Infinity QX80 and Ford Expedition. However, we feel it is our duty to let you know that they are the vehicles that lose the most value as soon as they are driven off a new car lot. These three all have a depreciation rate of 35% or more - the Leaf actually drops 40% - as soon as they become used.
iSeeCars.com analyzed over 7 million new and used car transactions to weed out the vehicles that make the most sense to always buy new (Let's just say you don't want to be buying any 1-year old Hondas). While doing so, they also dug up the vehicles that depreciate the most. If you are considering an Expedition, QX80, or Leaf, be sure you check out the used market. You may be shocked by how much the lightly used versions can save you. iSeeCars says the lightly used cars they included in the study were defined as used vehicles from model years 2017 and 2018.
In the case of the Infiniti QX80, it is $26,188. Enough for a good second car. The Expedition drops by almost as much at $24,690. A dollar value that would buy a nicely-equipped new Ford Escape. The Leaf drops by $13,524. That is 40% of its new price. The Leaf has always had a steep depreciation rate by comparison to other green cars like the Prius.
“While purchasing a new car offers peace of mind, waiting a year and purchasing the same vehicle lightly used can amount to significant savings,” said Phong Ly, iSeeCars.com CEO. "The Ford Expedition has the highest starting price in its class, even costing more than some of its comparable luxury versions,” said Ly. “In order for it to appeal to used car buyers, its price has to come down significantly.”
Older used cars are always a gamble, but these are used cars still under their manufacturers' warranties. Phong Ly points out, “Consumers who buy a lightly used car can still take advantage of the remaining manufacturer warranties and can have the car inspected by an independent mechanic prior to purchasing to ease any uncertainties about the vehicle’s condition and driving history.”