is more popular than ever, the company is building a reputation for reliable and affordable cars. But the SUV segment is one of the most popular segments, so they compete with many other good options. That said, car buyers are always on the lookout for a good deal, and Hyundai makes the money, according to a new study.
A summary of the iSeeCars study on the most used cars
There are a few definitions of value, and some buyers simply want the most features for a given price. However, other car buyers may be more practical and may think of value as how much driving a car can do for its price. This is essentially what a recent study seeks to uncover, as it seeks to find used cars that can get the best value in terms of remaining mileage for the price.
on them. Thus, used cars that do well in this study tend to be priced below average while still having many potential miles left in their lifetime.
The main number the study looked at was the used car price per 1,000 miles. This number is obtained by dividing the car’s remaining life span by the average used car price.
The Hyundai Santa Fe is one of the most used SUVs for the money
Sedans and some minivans dominated the list, with older names like the Dodge Grand Canyon making an appearance with its $120-per-1,000-mile face value. The first SUV to make the list is the , and it came in 14th place. This also makes the Santa Fe the most used SUV for the money, as it beat its rivals handily.
The results aren’t too surprising, as sedans dominated the list. Cars from automakers known for their reliability, such as Toyota and Honda, also dominated the rankings. However, the winner of the study was a surprising result, as it really was. The Impala has an average used car price of around $9,700, making it significantly cheaper than most other used cars.
Despite the cheap price, the average used Impala still has about 112,000 miles left in its potential lifespan. That means owners of a used Impala would only have to pay about $86 per 1,000 miles. A used Toyota Prius wasn’t far behind, costing $107 per 1,000 miles. The Prius was followed by the Honda Civic, which cost $108 per 1,000 miles.
That’s why a used Hyundai Santa Fe is so affordable
The average used Santa Fe costs about $12,000, making it about $1,000 cheaper than the average used car costs. However, the average used Santa Fe should still have over 91,000 miles in its lifespan, giving it a value of $131 per 1,000 miles. It’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.
It’s the second 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 life. That’s more miles than the Hyundai, but because of its higher price point, the Ford SUV has a face value of $143 per 1,000 miles.