5 late-model used-car bargains you can get now
For used-car buyers, this is shaping up as a year for bargains. A flood of returning leased cars from 2013 is pushing down prices, according to a report released today by Edmunds.com.
The report notes that 27 percent more vehicles were leased in 2013 than in 2012. All these cars and SUVs are now returning as used cars -- along with a large supply of trade-ins from rental agencies. That combination means not only lower prices but that a majority of used cars dealerships are selling will be three-year-old or newer vehicles.
Thanks to lower gas prices, popularity trends in the market are also working in your favor. "Some of the less popular segments in today's market were the most popular leased vehicles in 2013: midsize cars, compact cars and entry luxury cars," said Edmunds analyst Ivan Drury. Instead, large SUVs and other big vehicles are the biggest sellers today.
Reflecting those shopper preferences, 2015 prices for midsize used cars were down 2 percent, and compact used cars were 3.6 percent lower. Surprisingly, midsize crossover SUVs rose an average of just 2.4 percent in 2015 used-car prices -- compared with 12.9 percent for used large traditional SUVs.
With these trends in mind, we set out to find top-ranked used cars that are selling at relative bargains. The two sedans and three SUVs we profile are all ranked as top used cars by Consumer Reports (in the April issue, or here if you're a subscriber). Despite such endorsements, these five vehicles were selling by no more than 5 percent over their category average and in some cases below average, according to Edmunds' data.
Click here for a closer look at these five used-car bargains.
2013 Nissan Murano
As a new car, the Murano ranked No. 1 in affordable midsize SUVS among reviewers surveyed by U.S. News. Test drivers agreed that the Murano's V-6 engine provides brisk acceleration even up hills. And they also praised its nimble handling -- in a category where that can be hard to find.
Its EPA gas mileage rating is 18 MPG in city driving and 24 on the highway. Inside, the five-passenger Murano provides roomy seating, even for rear-seat passengers. The driver and passenger each have separate climate controls.
At an Edmunds average selling price of $23,766, the 2013 Murano is selling for just 5 percent above the category average.
2013 Mazda CX-5
The Mazda CX-5, new for 2013, was praised as bringing some fun to the small SUV competition. Test drivers lauded its nimble handling and responsive steering. Its four-cylinder engine has EPA ratings of 26 MPG in city driving and 32 on the highway -- besting many of its competitors.
Inside, the CX-5 comes with a clean design and seats that make it easy to find a comfortable driving position.
The 2013 CX-5, with an Edmunds average price of $18,369, is only 1 percent above the category average despite its high recommendations.
2013 Subaru Forester
The Subaru Forester is one of the cheapest ways to get a small SUV with all-wheel drive -- a standard feature on all Subarus.
The 2013 Forester is available with the base four-cylinder engine, rated at 21 MPG in city driving and 27 on the highway, and a turbocharged four with the same MPG ratings. Test drivers much preferred the quick acceleration in the turbo model, but that engine requires premium gasoline, a setback to an owner's weekly budget.
Reviewers praised the sporty handling combined with a comfortable ride. They rated the interior as spacious but not as well-designed as some competitors.
At an average price of $19,149, the 2013 Forester is selling at 5 percent above its category average.
2013 Toyota Camry
Perennially the best-selling sedan in America, the Camry's current price reflects the current unpopularity of sedans compared with SUVs.
At an average of $16,601, it's selling 1 percent below the midsize sedan category average. This Camry comes with a base four-cylinder engine, rated at 25 MPG city, 35 highway. Test drivers much preferred the power of the optional V-6, but it comes with a gas mileage penalty: 21 MPG city, 31 highway.
The 2013 Camry has a spacious interior and comfortable seats. On some versions, you can find a backup camera -- a crucial safety feature that will be required on all new cars starting with 2018 models.
2013 Hyundai Sonata
The 2013 Hyundai Sonata sells at the biggest discount to its category average -- 13 percent, for a typical price of $13,958. This may be because of its controversial exterior look. I find the swooping design extremely stylish, but some shoppers reacted negatively, and Hyundai has now returned to a more staid look for the Sonata.
But if you do like the style of the 2013 Sonata, you'll get a bargain on a car with a roomy interior and good fuel economy.
The base four-cylinder engine is rated for 24 MPG city and 35 highway. A more powerful turbocharged four is rated 22 city, 34 highway. Standard features include Bluetooth connectivity for cell phones, and some versions offer a rearview camera.