Hyundai is more popular than ever, the company is building a reputation for reliable and affordable cars. But SUV segment is one of the most popular segments, so Hyundai’s SUVs are competing against a lot of other good options. With that being said, car shoppers are always looking for a good deal, and according to a new study Hyundai makes the best used SUV for the money.
A recap of the iSeeCars study on the best used cars
There are a few definitions of value, and some shoppers simply want the most features for a certain price tag. Other car shoppers may be more practical though, and they may think of value as in how much driving a car can do for its price. That is essentially what a recent iSeeCars study tries to find out, as it tries to find the used cars that can get the best value in terms of remaining mileage for the price.
This is an issue that many used car shoppers will have to think about, as used cars tend to have some mileage on them. As such, the used cars that do well in this study tend to have a below-average price tag while still having a lot of potential miles left in their lifespan.
The main number that the study looked at was the used car’s price per 1,000 miles. This number is found by dividing the car’s remaining lifespan by its average used car price.
The Hyundai Santa Fe is one of the best used SUVs for the money
Sedans and some minivans dominated the list, with old names like the Dodge Grand Canyon making an appearance with its value rating of $120 per 1,000 mile. The first SUV to make the list is the Hyundai Santa Fe, and it came in at 14th place. This also makes the Santa Fe the best used SUV for the money, as it beat out its rivals easily.
The results aren’t too surprising, as sedans dominated the list. Cars from automakers that are well-known for their reliability, such as Toyota and Honda, also dominated the list. However, the winner of the study was a surprising result, as it was actually the Chevy Impala. The Impala has an average used car price of about $9,700, which makes it significantly cheaper than most other used cars.
Despite the cheap price tag, the average used Impala still has about 112,000 miles left in its potential lifespan. This means that owners of a used Impala would only have to pay about $86 per 1,000 miles. A used Toyota Prius wasn’t far behind, as it cost $107 per 1,000 miles. The Prius was followed by the Honda Civic, which cost $108 per 1,000 miles.
Here’s why a used Hyundai Santa Fe is such a good value
The average used Santa Fe costs around $12,000, which makes it about $1,000 cheaper than the average cost of a used car. The average used Santa Fe should still have over 91,000 miles left in its lifespan though, which gives it a value rating of $131 per 1,000 miles. That’s slightly worse than the Toyota Corolla’s $130 per 1,000 miles, but it’s better than the other used SUVs on the list.
The Ford Expedition is the runner-up used SUV on the list, and the average cost of a used Expedition is just over $15,500. That said, the average used Expedition has about 108,000 miles left in its lifespan. That’s more miles than the Hyundai, but due to its higher price tag, the Ford SUV has a value rating of $143 per 1,000 miles.