Leasing has become a more popular option than ever for new car shoppers. As these cars are turned in, it’s creating a flood of bargains on the used-car market. However, there are a few vehicles in particular that represent some killer deals.
New research from iSeeCars.com compiled the 11 best used-car bargains on the market right now. The study at 5.8 million car sales to identify 2014 models with the highest-percent depreciation after three years, which makes for low prices on the used car lot.
And number one on the list is the 2014 Cadillac CTS. It topped all other cars as one of the most quickly-depreciating cars, but also a mad deal. The average selling price for a 2014 Cadillac CTS is just $27,537. In a bit of bad news, the car has depreciated 51.4 percent—not great news for current owners.
Number two is also familiar: the 2014 Cadillac ATS. After depreciating a whopping 50.4 percent, the average price for a three-year-old ATS is only $21,173. Mercedes-Benz, BMW and Ford make up most of the other 11 cars on the list.
So, why do cars from Cadillac, Mercedes-Benz and BMW end up so cheap?
“Luxury brands are known for depreciating at a higher rate because they’re often leased to keep monthly payments down,” Phong Ly, CEO of iSeeCars.com said. “This helps create a constant influx of 3-year-old vehicles in the used car market, driving prices lower.”
Maybe a quick spin around the used-car lot isn’t such a bad idea after all.