 |
Press Release
FOR IMMEDIATE RELEASE
Contact:
Chintan Talati and Jeannine Fallon
Edmunds.com Corporate Communications
www.Edmunds.com
Media Hotline: 310-309-4900
pr@edmunds.com
Some New Cars Now Less Expensive than Used Cars, Edmunds.com Reports
SANTA MONICA, Calif. — March 20, 2009 — Edmunds.com, the premier resource for automotive information, today announced that 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.
"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. 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."
Below is a list of new vehicles that are less expensive to buy than their average one-year old used counterparts*:
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 |
*Edmunds.com assumed a 60-month loan term with a 5.9% "typical" finance rate for new cars and a 10.5% finance rate for used cars. Edmunds.com added in destination charges and gas guzzler taxes as appropriate. Of all available rebates, only national APR subvention and dealer cash programs were applied; consumers should check the Edmunds.com Incentives and Rebates database to learn if they qualify for additional savings. Also, consumers should research state sales tax and registration fees to determine their total purchase costs.
About Edmunds Inc. (http://www.edmunds.com/help/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.
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