It is common knowledge that used cars offer superior value. Depreciation eats away at a car’s worth, making it easy to fall behind on your payments – especially if you choose a fancy vehicle.
Inflation and supply constraints on crucial parts are also driving up the cost of new autos. Semiconductors, which are the major power source for modern cars, have been in short supply since 2020. Used automobiles aren’t affected by this scarcity, making them a good option if you want the latest features without paying the current MSRP.
These nine models have seen the biggest depreciation, but because of their luxury status and amenities, many still carry a premium price tag.
1. 1998 – 2002 BMW Z3 M Roadster
This is the kind of car that will make you happy, especially because you can have it for less than half of what it used to cost when it was new.
The coupe has already popped, while the roadster values are up 22% on later 315-hp vehicles and 31% on early 240-hp cars (beginning from a lower value). Decent BMW Z3 M Roadster, on the other hand, are still half the price of good M coupes.
2. 1970 – 1995 Range Rover
What can one say about a Range Rover? If you want to buy an old one, you probably don’t need persuasion because you already know what you’re getting yourself into and why. At the very least, they’re far less expensive to buy now than they were when they were new, which doesn’t mean much (if anything) if you’re a collector.
If you’re searching for a daily driver, go clear. With an ancient Cherokee, you’re probably better off.
3. 1984 – 2001 Jeep Cherokee
You probably won’t be swapping an old Cherokee for a profit anytime soon, but that doesn’t mean it doesn’t have value, especially if you’d rather drive it than store it.
In a throwback sort of sense, the Cherokee is robust and handsome. It’s everything the modern-day version isn’t, and hating it would be difficult unless you’re a fan of the old Ford Explorer.
4. Ford Mustang
The Ford Mustang comes in a number of trim levels, which means different starting MSRPs and equipment. As a result, depreciation after the first year is typically considerable. On the used market, though, you’ll find a wide range of trims and features. This can raise the price, so if you’re not tied to a particular style or feel, a new automobile may be a better option.
If you have a specific trim in mind, your best bet is to look for it in used car stores or websites that sell used cars like MerrJep.al or autoscout24. When looking for a used Mustang with a good price, it pays to spend time researching the features you want, as they may or may not have been standard in earlier model years.
If you’re certain that investing in a vehicle is right for you, you’ll need to find the right vehicle in terms of cost, condition, and how much you want to drive it.
You may have your heart set on a specific model, such as a modern classic like a Ferrari 328, but not every passion can be turned into profit.