Some New Cars Now Less Expensive than Used Cars, Edmunds.com Reports

Some New Cars Now Less Expensive than Used Cars, Edmunds.com Reports


FOR IMMEDIATE RELEASE

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 (http://www.edmunds.com/about/)
Edmunds 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 is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.

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