Don’t you forget the days when a 10-year-old car with perhaps 100,000 miles or more on the odometer was considered a reasonable “thresher,” best suited for newly licensed drivers who couldn’t do anything newer? They’re long gone, and even older used models now charge more.
The rising costs of new cars continue to force a record number of buyers to seek solace in used cars at a dealership, according to a study conducted through online vehicle marketplace iSeeCars. com. Website data shows that 10-year-old cars now make up 22. 7% of the market, up from 17. 2% in 2014. Unsurprisingly, rising demand has led to an average 60% increase in the price of 10 year old cars. and more. 10 years. over the last 10 years, from $7,583 to $12,194.
It’s worth noting that sedans, pickup trucks, and sedans — chassis styles that several automakers have written off in recent years — account for nearly two of the 15 models it identifies as having gained the largest percentage in the used car market over the past decade. . .
“Although not as popular with new car buyers, older sedans, trucks and sedans are gaining market share in the used car market,” says Karl Brauer, executive analyst at iSeeCars. com. “Their lower payload, lighter operation, and higher fuel power make them a great choice versus larger trucks and SUVs that charge more upfront and more for refueling and insuring. “
The good news here is that even cars that were new 10 years ago turn out to be durable and can be supplied with a generation that is still current, making buying a vehicle, even an older one, less of a sacrifice than ever a mechanical question mark.
These are the 15 models known through iSeeCars. com to have the requested expansion during the last decade, with their evolution in market percentage and average transaction price, based on an investigation of 169 million models sold in the first part of 2024:
Source: iSeeCars. com; You can read the full one here.
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