Falling Prices, Slowing Demand Mean Big Savings on These Used Luxury Vehicles
New cars come with all the latest tech and connectivity features and the peace of mind of a manufacturer warranty. However, a few factors make buying a used car a smart choice for some shoppers. Used vehicles are cheaper, so you’ll save money up front, and they’ve had a few years to build up reliability data, so you’ll have an idea of the maintenance and repair expenses you could face in the future.
Buying used could also be your ticket to a luxury brand. While a new luxury car may not fit your budget, a used version has had time to depreciate, so it will be easier on your bank account. Perhaps that’s why the segment has seen an uptick in demand recently. According to Jumpstart Automotive Media, used luxury car shopping was up 11 percent in the first quarter of 2017 compared to the same period last year. However, even with demand for the segment on the rise, some used luxury models haven’t experienced a boom in sales recently, which could mean lower prices and more negotiating power for you at the dealership.
To help you sort it all out, we’ve analyzed industry pricing data from Car Gurus, as well as sales data from Automotive News, and highlighted several used luxury cars and SUVs that are a great value at the dealership right now. So if you’re in the market for a used luxury car, this slide show is a great place to start your search.
Used luxury car buyers looking for a bargain price should put the Acura ILX on their test drive list. Its average transaction price is 5 percent below average among similarly aged luxury small cars. On top of that, prices for used Acuras have fallen 5.1 percent in the last year, which is one of the largest drops of any luxury brand.
The ILX won’t wow you with its performance, but it’s a good driving partner on a daily basis with a comfortable ride and adequate engine power. Inside, the ILX boasts a competitive list of standard features and appropriately upscale materials for the segment.
Slow demand and falling prices mean you’ll have a good shot at saving big on a used ILX. Although it’s not the most sumptuous or athletic option in the class, its value proposition makes it worthy of a spot on your shopping list.
If driving engagement is high on your list of priorities, give the Audi A3 a look. It boasts a range of potent engines and nimble handling. It’s a winner inside as well, with premium materials and a user-friendly infotainment system.
To add some appeal, the A3’s starting price is about 8 percent cheaper than similarly aged cars in the class. Plus, sales of used Audis are down 3.2 percent so far in 2017, while the used car market as a whole has experienced 0.4 percent sales growth.
That downturn in demand for the brand means you’ll have a good chance of negotiating the A3’s already low starting price down even further, so don’t miss this opportunity to save.
Used luxury SUV shoppers should take a look at the Acura RDX. It offers the striking and accommodating interior you’d expect of a luxury SUV, along with a serene ride and a punchy V6 engine.
For budget-conscious shoppers, the RDX remains a wise choice for a used luxury SUV. Transaction prices for used Acuras have fallen 5.1 percent in the last year, which is one of the largest drops of any luxury brand. In fact, the average transaction price for an RDX is 15 percent below average relative to similarly aged alternatives.
For some more sportiness, check out the Infiniti QX50. It corners with agility and boasts a potent standard V6 engine. If cargo or seating space are top priorities, however, there are better options like the BMW X3 or Audi Q5.
It’s tough to beat Infiniti’s pricing though. The average transaction price for used Infiniti models has fallen 4.9 percent over the past year, while the industry as a whole has experienced only a 1.7 percent drop in prices over that time. Currently, the QX50 is selling for 27 percent less than the norm for similarly aged alternatives in the luxury compact SUV segment. It’s one of the best choices out there for bargain hunters in the luxury market.
For used luxury midsize car shoppers, Lexus is a brand worth targeting. Over the last year, prices for used Lexus vehicles have dropped 4.8 percent, a decline that’s almost three times larger than the industry average in that time. Among used luxury midsize cars, the Lexus ES is one of the better values, as its average transaction price is about 8 percent below average for the segment.
The ES won’t make you sacrifice quality though, as it boasts the serene ride you’d expect of a Lexus, as well as first-rate cabin materials and a muscular V6 engine. If you’re looking for more spirited performance, alternatives like the Audi A6 and BMW 5-Series would be a better fit. Keep in mind, however, that average transaction prices for those German rivals are typically 20 to 25 percent higher than the average transaction price for the ES.
Another smart choice for your bank account this month is the Lincoln MKX. So far in 2017, sales of used Lincolns have dipped 4.8 percent relative to the same period last year. Plus, the average transaction price for an MKX is almost 20 percent below norm for similarly aged luxury midsize SUVs.
The MKX isn’t as athletic as some German rivals like the BMW X5 or Porsche Cayenne, but it’s significantly cheaper and offers spacious and comfy seating in both rows, plenty of standard features, a smooth ride, and poised handling. It’s a well-rounded and affordable choice in a pricey segment.
If space is a top priority, give the Buick Enclave a look. It’s one of the roomiest midsize SUVs on the market, and even though we don’t rank it in a luxury class, it has all the ritzy cabin materials you’d expect of an upmarket SUV. It also rides comfortably and has plenty of power.
To make the Enclave more appealing, recent market trends indicate you should be able to score a good deal on Buick’s big SUV this month. Sales of used Buicks have declined 18 percent so far in 2017 relative to the same period last year. That’s one of the largest drops for any brand in that time period. Plus, the Enclave’s average transaction price is about 20 percent lower than the norm for a similarly aged used luxury midsize SUV.
The Volkswagen Touareg may fly under the radar, but it deserves a spot on your test drive list. One of its notable attributes is standard all-wheel drive, which isn’t common in the class. It also offers composed handling and a suitably upscale cabin for the luxury midsize SUV segment.
Volkswagen’s diesel emissions scandal has put downward pressure on Touareg prices and demand. In fact, sales of all used Volkswagens have plummeted 16.5 percent so far in 2017 compared to the same interval in 2016. Accordingly, prices for used Volkswagens have dipped 2.7 percent in the past year. Right now, you can bring home a used Touareg for about 20 percent less than the norm for a used luxury midsize SUV. Don’t miss the opportunity to capitalize on these very favorable market conditions.
Buyers who want something ritzy and roomy should give the Infiniti QX80 a look. It has a cavernous cargo area, user-friendly technology, posh cabin materials, and a potent V8 engine. It’s also one of the most affordable used luxury large SUVs.
Over the past year, used Infiniti transaction prices have declined almost 5 percent. That’s almost triple the drop experienced by the industry as a whole. Currently, used QX80s (known as the QX56 prior to 2014) are selling at 14 percent less than the norm for similarly aged alternatives. So if you must have a luxury large SUV, the QX80 is one of the best choices for your bottom line.
See how these models stack up against the competition by checking out our used car rankings, and find out how much car you can afford by using our Car Affordability Calculator. Follow the conversation with the expert researchers and journalists of U.S. News & World Report on Facebook and Twitter.
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Falling Prices, Slowing Demand Mean Big Savings on These Used Luxury Vehicles
New cars come with all the latest tech and connectivity features and the peace of mind of a manufacturer warranty. However, a few factors make buying a used car a smart choice for some shoppers. Used vehicles are cheaper, so you’ll save money up front, and they’ve had a few years to build up reliability data, so you’ll have an idea of the maintenance and repair expenses you could face in the future.
Buying used could also be your ticket to a luxury brand. While a new luxury car may not fit your budget, a used version has had time to depreciate, so it will be easier on your bank account. Perhaps that’s why the segment has seen an uptick in demand recently. According to Jumpstart Automotive Media, used luxury car shopping was up 11 percent in the first quarter of 2017 compared to the same period last year. However, even with demand for the segment on the rise, some used luxury models haven’t experienced a boom in sales recently, which could mean lower prices and more negotiating power for you at the dealership.
To help you sort it all out, we’ve analyzed industry pricing data from Car Gurus, as well as sales data from Automotive News, and highlighted several used luxury cars and SUVs that are a great value at the dealership right now. So if you’re in the market for a used luxury car, this slide show is a great place to start your search.