4 Reliable Cars That Will Have Massive Price Drops Ahead of Summer
Buying a car is expensive. The average transaction price for a new vehicle in the United States has remained above $49,000 in recent months, according to recent Kelley Blue Book reports. And new car prices are rising.
So why not buy used? Depreciation plays a major role in what buyers ultimately pay. Vehicles typically lose about 30% of their value in the first two years and about 55% within the first five, according to KBB.
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Also, the used car market is growing this year. Three-year lease volume was higher in 2023 than in 2022, which means that a greater number of used vehicles are hitting the market now, according to Ivan Drury, director of insights for Edmunds, as reported by CNBC. The news outlet also reported that a growing number of fleet vehicles, including rental cars, should also be entering the market this year.
Some reliable vehicles also see price drops once they reach the used market. Here's a look at a few that could become more affordable ahead of summer.
Nissan Leaf
Electric vehicles tend to lose value faster than most gas-powered cars. They depreciate about 58.8% after five years on average, according to an iSeeCars analysis of more than 800,000 used vehicles.
The Nissan Leaf has been around since 2011, which means its used market is substantial, driving down prices. Additionally, it has a 4 out of 5 reliability rating from RepairPal.
Due to a major redesign in 2026, there are plenty of 2024 and 2025 Nissan Leaf models on the market for $15,000 to $20,000. This is below the average price for three-year-old EVs of $20,000 to $30,000, per Recharged. Models from 2019 and 2021-23 are even more affordable, per CarGurus data, seeing price reductions of up to 10%.
Toyota Camry
The Toyota Camry is rated 4 out of 5 for reliability by RepairPal. It's also known for its durability. According to iSeeCars, the Camry is among the vehicles most likely to reach 200,000 miles or more with proper maintenance.
Toyota also sells large numbers of Camrys every year. For example, sales rose 6.6% in 2024. Because Toyota sells so many Camrys each year, trade-ins and lease returns regularly add to used inventory.
That consistent supply helps keep prices competitive even for a reliable vehicle. According to CarGurus, 2018-2020 Toyota Camry models have seen some of the biggest price drops in the past 90 days.
Honda Accord
The Honda Accord has also built a strong reputation for long-term dependability. Like the Toyota Camry, iSeeCars research lists the Accord among vehicles most likely to reach 200,000 miles or more if properly maintained.
However, sedans have lost market share to SUVs in recent years. Lower demand for sedans can reduce resale prices on the used market. The 2020 and 2022 Honda Accords have seen the biggest price reductions in the last 90 days, per CarGurus.
Subaru Outback
The Subaru Outback is widely recognized for reliability and longevity, and it also made the iSeeCars "longest-lasting cars" list.
Subaru also sells large numbers of Outbacks each year. As owners trade in older models or return leased vehicles, they enter the used market. Subaru Outback models from 2021-22 have experienced the biggest price drops in the last 90 days, according to CarGurus.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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