The top five fastest-depreciating cars in the D.C. market are all luxury models, in part because luxury brands are often leased, which creates a surplus. See photos.
The average three-year depreciation rate for a new vehicle in the D.C. market is 38.2%, but some vehicles lose value more quickly in this area.
New and used vehicle marketplace and automotive research firm iSeeCars said the car that currently tops its list for fastest-depreciating car in the D.C.-area market is the Acura RLX. A three-year-old RLX sells for an average $26,375 in the D.C.-area market, for a three-year depreciation rate of 57.1%.
Tied for No. 2 on the local list are the Mercedes-Benz E-Class and Jaguar XF, each with a three-year depreciation rate of 55.6%. A three-year-old E-Class sells for an average $31,594 locally. A three-year-old XF sells for an average $30,663.
The top five fastest-depreciating cars in the D.C. market are all luxury models.
“Luxury brands are often leased, which creates a surplus of these three-year-old luxury vehicles in the used car marketplace without an equal amount of demand,” said iSeeCars CEO Phong Ly.
“Given the heightened demand for SUVs, which account for a higher share of used car inventory than ever before, luxury sedans are less sought after and have to come down significantly in price to attract used car buyers.”
Coming in at No. 4 is a Lincoln MKZ, with a three-year depreciation rate of 55.2%, and an average price of $19,819.
And at No. 5 is the Cadillac CTS, with a three-year depreciation rate of 55.0%, and an average three-year-old price of $25, 889.
iSeeCars ranks the Lincoln MKZ as the best used-car bargain under $20,000 nationwide, based on average price after three years, followed by the Kia Cadenza, Ford Fusion Hybrid, Chevrolet Impala and Kia Optima Hybrid.
The best almost new SUV bargain is the Lincoln Navigator L, with an average three-year-old price of $37,905, 51.6% less than it sold for new.
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