Many car buyers often look at a slightly used vehicle over a new car thinking they can save a lot of money. We’ve all heard that you lose lots of cash on a new car the moment you drive it off the new car dealer’s lot. While that's true in most cases, there are a few cars out where it doesn't apply. According to a study by iSeeCars.com, there are a few vehicles like the 2019 Subaru Crosstrek and Impreza models, where you don’t have to pay much more for a new model and the price difference can be less than $3,000.
iSeeCars.com analyzed over 7 million new and used cars sold from August 2018 to January 2019, comparing prices of new cars to lightly used equivalents and identifying those with the lowest price differences. They identified the top-10 cars that have the smallest percentage between new and used.
The 2019 Subaru Crosstrek small SUV and Impreza compact cars are ranked #3 and #10 respectively. The Crosstrek comes in at a 12.2 percent difference between new and used with a purchase price of just $2,978 new vs used. The 2019 Subaru Impreza costs $3,035 new vs used at 14.7 percent.
This is especially true if you live in the Northeast, Rocky Mountain or Pacific Northwest where the Subaru brand is popular. Subaru created a nice market of all-wheel-drive vehicles that are popular in cold weather states where AWD is needed. They also have mountains where their residents like to recreate on the weekends. Subaru is a perfect match for consumers who live there, and high resale values of the all-wheel-drive models is good evidence.
Unlike most automakers (Toyota, Honda), Subaru sells virtually no vehicles to fleet or bulk buyers. All registration numbers come from private owners. It’s one reason why the resale value is so high on the multi-purpose AWD Subaru vehicles. Kelly Blue Book says the 2019 Crosstrek small SUV holds its value better than all other Subaru vehicles in the lineup and is the lowest cost-to-own vehicle in the popular Compact SUV / Crossover category. KBB adds up all costs associated with a car for a 5 year period to come up with the winners. Costs such as fuel, maintenance, repairs, financing, insurance and one of the biggest factors of all, depreciation are all factors that affect a vehicle’s total ownership costs.
iSeeCars CEO Phong Ly says buying new won’t cost you much more. “When spread out over the average terms of a car loan about six years at a 4 percent interest rate for example, the increased monthly payment can be as little as $35 per month. This price difference could even be less when you take into account new car incentives that may exist for a given model.” The other models in the top-10 are the Honda HR-V, BMW X1, Honda CR-V, Toyota Tacoma, Honda Civic, Honda Pilot, Mazda CX-5, and Porsche Macan.
If you are looking for a small all-wheel-drive SUV or compact car, you don’t have to pay much more for a new 2019 Subaru Crosstrek or Impreza model, and the price difference can be less than $3,000.
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Photo credit: Subaru USA