New report: The best deals on used cars under $20,000

Published: Wednesday, July 10, 2019 @ 7:03 AM

Buying a used car in 2019 doesn’t have to be expensive. In fact, there are plenty of vehicles you can get for under $20,000.

The vehicle search engine iSeeCars.com recently released a list of vehicles available for under $20,000, including everything from full- and mid-size models to compact cars and SUVs.

Report: Here are the best used cars under $20,000

A sticker price under that amount is about right for a new driver, recent graduate or anyone looking to save money on a used vehicle.

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The list below shows not only the used vehicle, but its price after three years and depreciation figures.

iSeeCars Best Used Cars Under $20,000

Rank Car Avg. 3-Year-Old Used Price % Depreciation Depreciation Compared to Average
1 Lincoln MKZ $19,855 55.6% 1.4x
2 Kia Cadenza $19,508 50.2% 1.3x
3 Ford Fusion Hybrid $14,844 49.7% 1.3x
4 Chevrolet Impala $17,745 49.4% 1.3x
5 Kia Optima Hybrid $16,381 49.2% 1.3x
6 Fiat 500L $13,403 49.1% 1.2x
7 Ford Taurus $17,587 48.7% 1.2x
8 Volkswagen Tiguan $16,235 47.7% 1.2x
9 Fiat 500 $11,469 47.2% 1.2x
10 Hyundai Sonata Hybrid $16,303 47.0% 1.2x
Average for Comparably Priced Vehicles 39.3%

As you can see, many of the best used vehicles under $20,000 are hybrids. iSeeCars.com CEO Phong Ly says there’s a good reason for that.

“New hybrid vehicles are more expensive than their non-hybrid counterparts with the Kia Optima Hybrid costing an additional $4,303,” Ly says. “However, there isn’t a high demand for these hybrid vehicles, and their steep depreciation brings their resale value close to that of their non-hybrid versions.”

He says the average price of a three-year-old Fusion Hybrid is only about $200 more than a gasoline-powered Fusion.

However, iSeeCars.com notes that non-hybrid versions of these vehicles also depreciate at an above-average rate due to the overall decline of sedan market in the United States.

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