Pre-owned cars have long been a sensible financial move, and with the cost of living pressures ever-present in 2024, putting your money towards the best used car you can afford is still a very good idea.
According to a new report from the team at carsales, cars around six years old represent some of the best value on the market today, with a $45,000 car from around 2018 costing as little as $20,000 in today’s used-car market. While the used car market has been one for sellers since the pandemic, the lack of supply in the new car market is slowly being corrected as inflation continues to hit, meaning pre-owned cars are likely to be more affordable in 2024.
For carsales’ best used cars list of 2024, Mazda is the best pick for three of the top ten categories, while both Toyota and Hyundai take two spots each. Rounding out the top ten are Ford, Porsche, and Skoda.
“From the most affordable small cars to luxury sedans and heavy-duty off-road wagons, key metrics considered were cost of ownership, safety, retained value and market appeal,” said carsales Editor-in-Chief, Mike Sinclair. “Mazda is once again the brand to beat and between the CX-3, CX-5 and Mazda 6, there is something for almost everyone – a fuel-efficient and enjoyable drive, a safe and comfortable strong-selling SUV and a roomy family car with real-world performance.
“Cars up to six years old represent good value for buyers in the used-car market because they have been through the worst of their depreciation and have travelled only about 100,000km, based on an annual average of 15,000km per year,” continued Sinclair.
So if you’ve been waiting for the used car market to cool a little bit, 2024 could be the year to get behind the wheel of a new (used) car.
carsales Best Used Cars for 2024:
- Best Used Small Car: 2018 Hyundai i30 Premium turbo-diesel
- Best Used Medium Car: 2018 Mazda6 Atenza
- Best Used Electric Vehicle: 2018 Hyundai IONIQ Electric Premium
- Best Used Small SUV: 2018 Mazda CX-3 Akari turbo-diesel AWD
- Best Used Medium SUV: 2018 Mazda CX-5 Akera turbo-diesel AWD
- Best Used Large SUV: 2018 Skoda Kodiaq 140TDI Sportline
- Best Used Sports Car: 2018 Toyota 86 GTS
- Best Used Luxury Car: 2018 Porsche Panamera Turbo S E-Hybrid Sport Turismo
- Best Used Dual-Cab Ute: 2018 Ford Ranger Raptor 4×4 Double Cab Utility
- Best Used Off-Road 4×4: 2018 Toyota LandCruiser Sahara
