CarGurus Highlights Great Deals for End-of-Year Used Car Shoppers, Savings of 10% or More
CAMBRIDGE, Mass., December 19, 2011 -- A recent price trends study by automotive research website CarGurus (www.cargurus.com) found that the average list price of a recent model used car (years 2006-2010) has dipped 4.1% in the past three months, and some of the most popular used car models have seen even sharper drops of 10% or more since September. This seasonal decline in prices is especially good news for car shoppers who postponed a car purchase last Fall and can now find comparable cars listed for significantly less.
To provide guidance for end-of-year car shoppers, CarGurus editors have highlighted several popular used models that are among those showing substantial price depreciation of 10% or more since September. The average dollar amounts noted in the chart below represent an average of the listings for each model that were analyzed by CarGurus, including cars with different trims, mileage and options. Consumers looking for more specific price guidance on the best local deals on these cars or others can visit CarGurus' DealFinder (www.cargurus.com/dealfinder). DealFinder enables shoppers to search by zip code for specific models, trims, mileage and options to find desired listings ranked according to how good a deal each offers.
| Vehicle Type | Year/Model | Avg. List Price on 9/9/11* |
Avg. List Price on 12/9/11* |
90-Day Price Change |
|---|---|---|---|---|
| Small and Midsize Cars | 2007 Toyota Prius | $17,902 | $15,269 | -15% ($2,633) |
| 2007 Hyundai Accent | $9,714 | $8,678 | -13% ($1,349) |
|
| 2008 Ford Focus | $13,822 | $12,302 | -11% ($1,520) |
|
| 2008 Honda Civic | $16,632 | $14,837 | -11% ($1,798) |
|
| 2007 Volkswagen Jetta | $15,186 | $13,563 | -11% ($1,623) |
|
| 2008 Hyundai Elantra | $12,945 | $11,646 | -10% ($1,299) |
|
| 2007 Mazda Mazda3 | $13,575 | $12,249 | -10% ($1,326) |
|
| 2006 Toyota Corolla | $11,764 | $10,685 | -10% ($1,199) |
|
| Minivans and SUVs | 2007 Kia Sedona | $13,599 | $12,147 | -11% ($1,452) |
| 2008 Dodge Grand Caravan | $16,925 | $15,312 | -10% ($1,613) |
|
| 2008 Ford Escape Hybrid | $20,302 | $18,331 | -10% ($1,901) |
|
| 2006 Lincoln Navigator | $20,543 | $18,521 | -10% ($2,022) |
* The prices noted above are an average of thousands of listings analyzed by CarGurus, including cars with different trims, mileage and options. Current market value for specific trims, mileage and options in any given zip code can be found at (www.cargurus.com/dealfinder)
"Used car buyers who delayed a car purchase earlier this year due to high prices will be pleasantly surprised by how much has changed in recent months," said Langley Steinert, founder and CEO of CarGurus. "The key for year-end shoppers is to do ample online price research so they can move quickly when they find a great deal. We expect many of these great savings opportunities we have identified to be gone by early next year, when prices will climb back up."
CarGurus' free DealFinder (www.cargurus.com/dealfinder) tool can help car shoppers find the best deals in their area. DealFinder uses a mathematical model to analyze the prices of millions of current and historic listings and determine the Instant Market Value (IMV) for a specific car. Shoppers get current guidance on the best local deals on their specified vehicle, ranked according to how each listing's price stacks up against the car's IMV. For each ranked listing in the search results, DealFinder also provides a detailed price history and price-drop alerts, so consumers can keep tabs on a particular listing as they consider their purchase and use that pricing intelligence when they negotiate.
About CarGurus
CarGurus (www.cargurus.com) is a leading online automotive destination focused on making the car shopping and research experience more transparent for consumers. Located in Cambridge, Mass., CarGurus was founded by Langley Steinert, co-founder and former Chairman of TripAdvisor, the largest travel site in the world.
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