If you are in the market for a used car, you may be interested to know which cars are most likely to retain their value should you ever decide to sell or trade-in the vehicle. You may be surprised to learn that there are some models whose prices could increase on the used market. Wall Street Journal recently compiled a list of 10 used cars whose prices have surged more than others.
In 2022, the average price of a used car or truck is more than 30 percent higher than it was the year prior, says WSJ. Some cars, such as the 2019 Toyota Prius, 2019 Nissan Versa, and 2019 Dodge Grand Caravan boast prices that are in excess of 60 percent higher than they were in 2021. This is what you need to know about each of those models.
2019 Toyota Prius
With owner-reported gas mileage of more than 50 MPG, the 2019 model year of the popular Prius is a sensible choice as fuel prices soar. More aerodynamic and stylish than the first three generations of Prius, this one boasts an improved powertrain and handles better than earlier models, too, says Consumer Reports.
An across-the-board suite of active TSS-P safety systems, including automatic emergency braking, lane-departure warning, adaptive cruise control, and automatic high beams come standard on this petrol-sipping Prius.
2019 Nissan Versa
Ungainly handling, average performance, and grating engine noise are just a few of the less-than-pleasing hallmarks of the 2019 Nissan Versa, says CR. The consumer testing agency reported that the transmission feels jittery at highways speeds, and drivers may find themselves accidentally shifting into low when they really wanted it in drive.
On the plus side, this Nissan has large windows that make the otherwise cramped, narrow cabin feel more spacious than it is. The rear seating compartment boasts plenty of legroom and is amazingly large for a subcompact car.
2019 Dodge Grand Caravan
Sizable under-the-floor cargo bins and fold-away second- and third-row seats make this generation of Dodge Grand Caravan quite utilitarian, despite the fact that it averages a mere 17 MPG, notes CR. The suspension is up to par when it comes to limiting road bumps, and despite wind noise, the cabin is generally comfortable for passengers.
As long as you don’t try to hurry around corners at high speeds, the Grand Caravan handles relatively well. As far as climate controls go, this minivan offers a three-zone system that works well, and second-row passengers have access to their own temperature controls.
Used cars can still be a good deal
Buying a previously-owned car can be a smart move, especially in unusual economic times. You tend to get more for your money if you shop smart. Previously-owned vehicles are typically cheaper to register and cost less to insure, as well, explains CarGurus.
If you are wondering if a used car that you’re thinking about is worth the asking price, you can check for yourself using resources like Kelley Blue Book or the CarGurus Instant Market Value tool, which are easy to use and generally reliable. Simply input a few details about the car, type in your zip code, and within seconds you’ll have a good idea of how much a certain used car should cost.
Price is not the only thing to take into consideration when purchasing a used vehicle. You’ll want to know the car’s unique history, as well. Input the license plate or vehicle identification number, or VIN using a tool like CarFax to learn about accidents, recalls, service history, and other valuable info that will help you make an informed decision.