Best Car Values: Used American Vehicles

October 6th, 2010

Buy U.S.?

CarGurus’ DealFinder finds used American cars offer the best values. Low-mileage used cars can be bought at up to 37% less than original MSRP. Chevrolet and Jeep lead the pack.

CAMBRIDGE, Mass., October 6, 2010 — CarGurus® (http://www.cargurus.com/), a leading online automotive community, examined the pricing of top-rated low-mileage used vehicles to find the best values in the used sedan, SUV, compact SUV, and minivan segments. Based on its DealFinder car valuations, CarGurus found the best values across these segments to be American cars and the savings compared to original MSRP to be as high as 37%.

American cars took top used car value honors in three of the four body styles analyzed. The Chevrolet Malibu took top honors for the sedan segment. Jeep took top honors for both the SUV and compact SUV segments with the Jeep Grand Cherokee and Jeep Liberty respectively. Kia took top honors in the minivan segment with its Sedona.

“Everyone knows that used cars offer better value than buying new,” remarked Langley Steinert, CEO/founder of CarGurus. “However, with discounts on low-mileage used cars of as much as 37%, these specific models really represent great values. If you are looking for a great deal, these are the cars you should consider.”

CarGurus’ DealFinder: Best Used Car Values By Body Type
Body Type Model Avg. DealFinder Savings
Compared to Original MSRP

(across 2007-2009 model years,
given 12k miles per year since production)
Sedan Chevrolet Malibu 29%
SUV Jeep Grand Cherokee 35%
Compact SUV Jeep Liberty 27%
Minivan Kia Sedona 37%

Methodology
CarGurus used its DealFinder product to determine the current valuations for slightly used, popular cars (2007 to 2009 model years, assuming 12k miles per year since production) in four car segments: sedans, SUVs, compact SUVs, and minivans. Popular, comparable cars in each segment were analyzed and ranked based on their current value vs. their original MSRP pricing. Current values were determined using CarGurus’ DealFinder, which analyzes over 2 million car listings a day to determine current car values. DealFinder utilizes proprietary, historic valuation models to compute the current valuation of used cars.

About CarGurus LLC and DealFinder
Located in Harvard Square, Cambridge, Mass., CarGurus LLC is a leading online automotive community founded by Langley Steinert, formerly chairman/co-founder of TripAdvisor LLC, the 2nd largest online travel site in the world.

CarGurus’ DealFinder is an online car shopping service that helps consumers find the best deals on new and used cars in their local area. Indexing over 1 million listings a day, CarGurus’ DealFinder analyzes each car listing and compares the listed price against historic pricing models to gauge whether the listing is a good deal or bad deal. CarGurus’ DealFinder helps consumers save time and money when shopping for a new or used car. For more information about CarGurus, visit us at www.cargurus.com.

Contact: Kerry Metzdorf, Plum Advisors
978-463-2575
kerry@plumadvisors.com

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  1. panayoti
    October 6th, 2010 at 15:13 | #1

    I am more than curious to learn more about your methodology that utilizes proprietary, historic valuation models to compute the current valuation of used cars. That’s a pretty vague statement and I’d like to learn more about it. Are you at liberty to summarize the methodology without giving away any trade secrets??

    For instance, in the article above you were able to parse and analyze the prices of the cars listed for sale and somehow you were able to extrapolate “best buys”. I am assuming that means “greatest depreciation of original MSRP”. Is that accurate? If so, wouldn’t skeptical buyers think that maybe those are not so great deals based on that depreciation?? Did you find similar results in the luxury or near luxury market as well?? In looking for a great used car deal last month, I used the listings here to determine what worked well for me, based on other factors rather than price. I am curious if those factors that I used are similar to the ones that you use, so any additional information you can supply would be deeply appreciated.

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