If you feel like you can’t or don’t want to spend the kind of money a brand-new car costs, take heart. You can get into a nearly-new or gently-used car that fits your budget and your lifestyle needs. For now, let’s look at some of the best deals on used cars under $20,000.
Our source for this information is none other than Consumer Reports, whose recent report, Best Used Car Deals Under $20,000 has a little something for everyone.
These are the top used car deals from the 2007 model year, listed in order of the cheapest price you may be able to snag when buying from a dealer. They are between 37 and 52 percent less than the retail price when new. And, importantly, they all have at least average reliability according to the most recent Consumer Reports subscriber survey. Take a look:
2007– MSRP when new was $16,099. Average price buying from a dealer is $20,025, a drop in retail value vs. MSRP of 38 percent
retail value vs. MSRP
2007– The crossover’s MSRP was $18,895 new, while the average price buying from a dealer today is $11,150 – a drop of 41 percent.
2007front-wheel drive (FWD) – The midsize sedan carried a $21,085 MSRP new, while today’s average dealer price is $12,300 – a 42 percent drop.
2007 Mazda6 s wagon – MSRP new was $26,180. Buying used from a dealer today will cost you about $12,575 – a decrease of 52 percent.
2007 Ford Fusion all–wheel drive (AWD) – When new, the MSRP was $22,935, but today, buying used from a dealer, it’s more like $12,725 – a drop of 45 percent.
2007 Mitsubishi Outlander 4WD – MSRP when new was $23,770, but today, buying used, it’s $13,150 – a drop of 45 percent.
2007– It may not be everyone’s cup of tea, but paying $13,200 buying used today from a dealer is 48 percent less than the $25,225 MSRP when new.
2007 MX-5 Miata – The sporty roadster carried a $23,390 MSRP new; today’s price at a dealer is $13,900 – a drop of 41 percent.
2007– Need a full-size sedan? New, the 2007 Toyota Avalon cost $26,875 but today, used from a dealer, it’s $14,275. That’s a decrease of 37 percent.
2007 Kia Sportage – The second Kia Sportage on the Consumer Reports list was $22,895 new. Today, that same model used is $14,475, a drop of 37 percent.
2007– The eight-passenger Honda Pilot was $27.095 when new in 2007 model year. Today, buy it used from a dealer for $14,500 – a decrease of 46 percent.
2007Solara – MSRP new was $26,905; buy it used today from a dealer for $14,625 – a decrease of 46 percent.
2007– New, the MSRP was $27,440. Buying used from a dealer today, it’s $15,725 – a drop of 43 percent.
2007 Honda Accord Hybrid – New, the MSRP was $31,090; used from a dealer today = $16,225 – a 48 percent drop.
See the rest of the Consumer Reports list of best deals on used cars under $20,000 here.