Some New Cars Now Less Expensive than Used Cars, Edmunds.com Reports
By Michelle Krebs March 19, 2009SANTA MONICA, Calif. - The deals on some new cars are so generous that they actually
make the new car less expensive than the one-year old used version of the same model, according to a pricing analysis by Edmunds.com
, parent of AutoObserver.com
.
"Compared with new vehicles sales - which are at lows unseen in decades - the used car market is doing well," observed Edmunds.com CEO Jeremy Anwyl. "Desirable used vehicles are becoming harder to find, pushing up their prices, while today's new cars are heavily discounted. This is creating an unusual economic event: It can actually be less expensive to purchase a new car than a used car."
To perform this analysis, Edmunds.com compared the vehicles' True Market Value transaction prices and the interest payments typically made for each vehicle. Because used cars generally are financed at a higher rate than new cars, a shopper can save as much as $795 by purchasing the new vehicle instead of the used one.
Some automakers are currently offering special finance rates among the incentives offers they use to attract buyers. When applying the appropriate special finance rates being offered as incentives for new car purchases, Edmunds.com found the savings rose as high as $6,175 -- that being for the BMW 650i convertible, which has an $82,000 price tag.
Even more affordable mainstream vehicles offer new over used savings that are substantial. The 2009 BMW 328i sedan can save the buyer $4,302 over the year-earlier used version. The savings on the 2009 Honda Civic Hybrid over its 2008 counterpart is nearly $2,000. The Mazda3 has savings as high as $1,456 on the 2009 version versus the year-old model.
Edmunds.com estimates that approximately 18 percent of new car buyers qualify for the special finance rates offered by automakers.
"Never underestimate the cost of the interest on a loan, and never forget that if you have decent credit, you may be able to negotiate the interest rate you are offered," recommends Edmunds.com Senior Consumer Advice Editor Philip Reed. "Car shoppers should look at all the costs of buying a car, not just the purchase price."
Photos by Manufacturers
1 - The savings on the 2009 BMW 328i can be as much as $4,302 over the year-earlier model.
2 - The 2009 Honda Civic Hybrid can save the buyer nearly $2,000 from the 2008 model.
| New Vs. One-Year-Old Used | ||||||
|---|---|---|---|---|---|---|
| MAKE | MODEL | NAME | New 2009 TMV | Used 2008 TMV | Amount saved buying new car based on special APR | Amount saved buying new car based on typical APR |
| Audi | A3 | 2.0T 4dr Wagon (2.0L 4cyl Turbo 6M) | $26,593 | $22,446 | $347 | none |
| Audi | A3 | 2.0T 4dr Wagon (2.0L 4cyl Turbo 6A) | $28,009 | $23,700 | $442 | none |
| Audi | A4 | 2.0T 4dr Sedan (2.0L 4cyl Turbo CVT) | $30,342 | $25,623 | $413 | none |
| Audi | A4 | 2.0T quattro 4dr Sedan AWD (2.0L 4cyl Turbo 6M) | $31,159 | $26,381 | $512 | none |
| Audi | A4 | 2.0T quattro 4dr Sedan AWD (2.0L 4cyl Turbo 6A) | $32,262 | $27,459 | $716 | none |
| BMW | 1 Series | 128i 2dr Coupe (3.0L 6cyl 6M) | $29,482 | $25,386 | $241 | none |
| BMW | 1 Series | 135i 2dr Coupe (3.0L 6cyl Turbo 6M) | $35,365 | $30,812 | $754 | none |
| BMW | 3 Series | 328i 4dr Sedan (3.0L 6cyl 6M) | $32,878 | $29,417 | $4,302 | none |
| BMW | 3 Series | 328i 4dr Wagon (3.0L 6cyl 6M) | $34,617 | $30,937 | $2,668 | none |
| BMW | 3 Series | 328i 2dr Coupe (3.0L 6cyl 6M) | $35,690 | $31,870 | $2,718 | none |
| BMW | 3 Series | 335i 4dr Sedan (3.0L 6cyl Turbo 6M) | $39,379 | $34,901 | $2,659 | none |
| BMW | 3 Series | 335i 2dr Coupe (3.0L 6cyl Turbo 6M) | $41,202 | $36,511 | $2,775 | none |
| BMW | 3 Series | 328i 2dr Convertible (3.0L 6cyl 6M) | $43,430 | $38,542 | $2,998 | none |
| BMW | 3 Series | 335i 2dr Convertible (3.0L 6cyl Turbo 6M) | $49,615 | $43,508 | $2,751 | none |
| BMW | 5 Series | 528i 4dr Sedan (3.0L 6cyl 6M) | $44,373 | $37,482 | $2,943 | none |
| BMW | 5 Series | 535i 4dr Sedan (3.0L 6cyl Turbo 6M) | $49,479 | $41,768 | $3,246 | none |
| BMW | 5 Series | 550i 4dr Sedan (4.8L 8cyl 6M) | $58,317 | $47,921 | $2,140 | none |
| BMW | 6 Series | 650i 2dr Coupe (4.8L 8cyl 6M) | $75,707 | $64,348 | $5,534 | none |
| BMW | 6 Series | 650i 2dr Convertible (4.8L 8cyl 6M) | $82,515 | $70,246 | $6,175 | none |
| BMW | M5 | 4dr Sedan (5.0L 10cyl 7AM) | $86,448 | $69,336 | $978 | none |
| BMW | M6 | 2dr Convertible (5.0L 10cyl 7AM) | $109,630 | $88,923 | $2,522 | none |
| Honda | Civic | DX 2dr Coupe (1.8L 4cyl 5M) | $14,684 | $12,857 | $395 | none |
| Honda | Civic | DX 4dr Sedan (1.8L 4cyl 5M) | $14,869 | $13,022 | $404 | none |
| Honda | Civic | DX 2dr Coupe (1.8L 4cyl 5A) | $15,428 | $13,519 | $428 | none |
| Honda | Civic | DX 4dr Sedan (1.8L 4cyl 5A) | $15,617 | $13,686 | $436 | none |
| Honda | Civic | LX 2dr Coupe (1.8L 4cyl 5M) | $16,491 | $14,890 | $1,025 | $120 |
| Honda | Civic | LX 4dr Sedan (1.8L 4cyl 5M) | $16,692 | $15,228 | $1,239 | $323 |
| Honda | Civic | LX 2dr Coupe (1.8L 4cyl 5A) | $17,249 | $15,574 | $1,071 | $125 |
| Honda | Civic | LX 4dr Sedan (1.8L 4cyl 5A) | $17,438 | $15,917 | $1,305 | $348 |
| Honda | Civic | EX 2dr Coupe (1.8L 4cyl 5M) | $18,420 | $16,560 | $1,052 | $41 |
| Honda | Civic | EX 4dr Sedan (1.8L 4cyl 5M) | $18,425 | $16,230 | $621 | none |
| Honda | Civic | EX 4dr Sedan (1.8L 4cyl 5A) | $19,166 | $17,233 | $1,098 | $46 |
| Honda | Civic | EX 2dr Coupe (1.8L 4cyl 5A) | $19,177 | $17,238 | $1,092 | $39 |
| Honda | Civic | EX-L 4dr Sedan (1.8L 4cyl 5M) | $19,867 | $17,221 | $310 | none |
| Honda | Civic | EX-L 2dr Coupe (1.8L 4cyl 5M) | $19,875 | $17,224 | $305 | none |
| Honda | Civic | EX-L 2dr Coupe (1.8L 4cyl 5A) | $20,628 | $17,892 | $336 | none |
| Honda | Civic | EX-L 4dr Sedan (1.8L 4cyl 5A) | $20,628 | $17,893 | $337 | none |
| Honda | Civic | Si 2dr Coupe (2.0L 4cyl 6M) | $20,864 | $18,632 | $1,030 | none |
| Honda | Civic | Si 4dr Sedan (2.0L 4cyl 6M) | $21,034 | $18,146 | $216 | none |
| Honda | Civic | Hybrid 4dr Sedan (1.3L 4cyl gas/electric hybrid CVT) | $21,788 | $20,167 | $1,991 | $795 |
| Honda | Civic | Si 2dr Coupe w/Nav (2.0L 4cyl 6M) | $22,715 | $19,514 | $127 | none |
| Mazda | CX-7 | Sport 4dr SUV (2.3L 4cyl Turbo 6A) | $23,162 | $19,480 | $212 | none |
| Mazda | CX-7 | Sport 4dr SUV AWD (2.3L 4cyl Turbo 6A) | $24,779 | $20,789 | $161 | none |
| Mazda | CX-7 | Touring 4dr SUV (2.3L 4cyl Turbo 6A) | $24,967 | $20,832 | $15 | none |
| Mazda | CX-7 | Touring 4dr SUV AWD (2.3L 4cyl Turbo 6A) | $26,558 | $22,189 | $54 | none |
| Mazda | MAZDA3 | i Sport 4dr Sedan (2.0L 4cyl 4A) | $15,189 | $13,259 | $764 | none |
| Mazda | MAZDA3 | i Sport 4dr Sedan (2.0L 4cyl 5M) | $14,351 | $12,495 | $680 | none |
| Mazda | MAZDA3 | s Sport 4dr Wagon (2.3L 4cyl 5M) | $17,947 | $15,950 | $1,268 | none |
| Mazda | MAZDA3 | s Sport 4dr Wagon (2.3L 4cyl 5A) | $18,836 | $16,837 | $1,456 | none |
| Mazda | MAZDA3 | s Touring 4dr Wagon (2.3L 4cyl 5A) | $19,306 | $17,188 | $1,403 | none |
| Mazda | MAZDA3 | s Sport 4dr Sedan (2.3L 4cyl 5M) | $17,496 | $15,523 | $1,203 | none |
| Mazda | MAZDA3 | s Sport 4dr Sedan (2.3L 4cyl 5A) | $18,386 | $16,367 | $1,334 | none |
| Mazda | MAZDA3 | s Touring 4dr Sedan (2.3L 4cyl 5M) | $18,433 | $16,370 | $1,287 | none |
| Mazda | MAZDA3 | s Touring 4dr Wagon (2.3L 4cyl 5M) | $18,435 | $16,370 | $1,285 | none |
| Mazda | MAZDA3 | s Touring 4dr Sedan (2.3L 4cyl 5A) | $19,322 | $17,215 | $1,421 | none |
| Mazda | MAZDA3 | s Grand Touring 4dr Sedan (2.3L 4cyl 5A) | $20,978 | $18,455 | $1,239 | none |
| Mazda | MAZDA3 | s Grand Touring 4dr Sedan (2.3L 4cyl 5M) | $20,095 | $17,651 | $1,152 | none |
| Mazda | MAZDA3 | s Grand Touring 4dr Wagon (2.3L 4cyl 5M) | $20,096 | $17,641 | $1,138 | none |
| Mazda | MAZDA3 | s Grand Touring 4dr Wagon (2.3L 4cyl 5A) | $20,987 | $18,442 | $1,213 | none |
| Mazda | MAZDA5 | Sport 4dr Minivan (2.3L 4cyl 5M) | $17,645 | $15,501 | $2,346 | none |
| Mazda | MAZDA5 | Sport 4dr Minivan (2.3L 4cyl 5A) | $18,702 | $16,296 | $2,314 | none |
| Mazda | MAZDA5 | Touring 4dr Minivan (2.3L 4cyl 5A) | $20,394 | $17,662 | $2,384 | none |
| Mazda | MAZDA5 | Grand Touring 4dr Minivan (2.3L 4cyl 5A) | $22,052 | $19,118 | $2,603 | none |
| Mitsubishi | Eclipse Spyder | GS 2dr Convertible (2.4L 4cyl 5M) | $25,735 | $20,470 | $664 | none |
| Mitsubishi | Eclipse Spyder | GS 2dr Convertible (2.4L 4cyl 4A) | $26,696 | $21,312 | $789 | none |
| Mitsubishi | Eclipse Spyder | GT 2dr Convertible (3.8L 6cyl 6M) | $28,822 | $22,913 | $727 | none |
| Mitsubishi | Eclipse Spyder | GT 2dr Convertible (3.8L 6cyl 5A) | $29,787 | $23,758 | $852 | none |
| Mitsubishi | Lancer | DE 4dr Sedan (2.0L 4cyl 5M) | $14,157 | $12,214 | $1,595 | none |
| Mitsubishi | Lancer | DE 4dr Sedan (2.0L 4cyl CVT) | $15,043 | $12,962 | $1,673 | none |
| Mitsubishi | Lancer | ES 4dr Sedan (2.0L 4cyl 5M) | $16,290 | $13,962 | $1,716 | none |
| Mitsubishi | Lancer | ES 4dr Sedan (2.0L 4cyl CVT) | $17,158 | $14,709 | $1,811 | none |
| Mitsubishi | Outlander | ES 4dr SUV (2.4L 4cyl CVT) | $20,211 | $15,905 | $301 | none |
| Mitsubishi | Outlander | ES 4dr SUV AWD (2.4L 4cyl CVT) | $21,564 | $16,979 | $333 | none |
| Mitsubishi | Outlander | SE 4dr SUV (2.4L 4cyl CVT) | $23,223 | $18,258 | $323 | none |
| Mitsubishi | Outlander | XLS 4dr SUV (3.0L 6cyl 6A) | $23,802 | $18,658 | $260 | none |
| Mitsubishi | Outlander | SE 4dr SUV AWD (2.4L 4cyl CVT) | $24,554 | $19,305 | $342 | none |
| Mitsubishi | Outlander | XLS 4dr SUV AWD (3.0L 6cyl 6A) | $25,130 | $19,702 | $278 | none |
| Nissan | Altima Hybrid | 4dr Sedan (2.5L 4cyl gas/electric hybrid CVT) | $26,036 | $22,184 | $609 | none |
| Nissan | Frontier | SE 4dr Crew Cab 5.0 ft. SB (4.0L 6cyl 6M) | $22,027 | $17,970 | $67 | none |
| Nissan | Frontier | SE 4dr King Cab 4WD 6.1 ft. SB (4.0L 6cyl 6M) | $22,609 | $18,544 | $197 | none |
| Nissan | Frontier | SE 4dr Crew Cab 5.0 ft. SB (4.0L 6cyl 5A) | $23,030 | $18,950 | $279 | none |
| Nissan | Frontier | SE 4dr King Cab 4WD 6.1 ft. SB (4.0L 6cyl 5A) | $23,587 | $19,504 | $409 | none |
| Nissan | Frontier | SE 4dr Crew Cab 6.1 ft. SB (4.0L 6cyl 5A) | $23,789 | $19,430 | $102 | none |
| Nissan | Frontier | LE 4dr King Cab 6.1 ft. SB (4.0L 6cyl 5A) | $24,274 | $20,027 | $363 | none |
| Nissan | Frontier | SE 4dr Crew Cab 4WD 5.0 ft. SB (4.0L 6cyl 6M) | $24,339 | $20,244 | $575 | none |
| Nissan | Frontier | SE 4dr Crew Cab 4WD 6.1 ft. SB (4.0L 6cyl 6M) | $25,095 | $20,999 | $755 | none |
| Nissan | Frontier | SE 4dr Crew Cab 4WD 5.0 ft. SB (4.0L 6cyl 5A) | $25,338 | $21,227 | $794 | none |
| Nissan | Frontier | LE 4dr Crew Cab 5.0 ft. SB (4.0L 6cyl 5A) | $25,890 | $21,593 | $687 | none |
| Nissan | Frontier | SE 4dr Crew Cab 4WD 6.1 ft. SB (4.0L 6cyl 5A) | $26,084 | $21,953 | $948 | none |
| Nissan | Frontier | LE 4dr Crew Cab 6.1 ft. SB (4.0L 6cyl 5A) | $26,365 | $22,059 | $790 | none |
| Nissan | Frontier | LE 4dr King Cab 4WD 6.1 ft. SB (4.0L 6cyl 5A) | $26,554 | $22,248 | $835 | none |
| Nissan | Frontier | LE 4dr Crew Cab 4WD 5.0 ft. SB (4.0L 6cyl 5A) | $28,094 | $23,743 | $1,148 | none |
| Nissan | Frontier | LE 4dr Crew Cab 4WD 6.1 ft. SB (4.0L 6cyl 5A) | $28,588 | $23,972 | $925 | none |
| Nissan | Rogue | S 4dr SUV (2.5L 4cyl CVT) | $20,141 | $17,422 | $807 | none |
| Nissan | Rogue | SL 4dr SUV (2.5L 4cyl CVT) | $21,214 | $18,584 | $1,152 | none |
| Nissan | Rogue | S 4dr SUV AWD (2.5L 4cyl CVT) | $21,299 | $18,575 | $1,049 | none |
| Nissan | Rogue | SL 4dr SUV AWD (2.5L 4cyl CVT) | $22,324 | $19,382 | $987 | none |
| Nissan | Sentra | 2.0 S 4dr Sedan (2.0L 4cyl 6M) | $16,741 | $13,418 | $178 | none |
| Nissan | Sentra | SE-R 4dr Sedan (2.5L 4cyl CVT) | $20,224 | $16,259 | $278 | none |
| Nissan | Sentra | SE-R Spec V 4dr Sedan (2.5L 4cyl 6M) | $20,713 | $16,682 | $323 | none |
Source: Edmunds.com
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