Most consumers are going to buy a car hoping to keep their new vehicle between five and 10 years. At that point, driving regularly will probably push the car over 100,000 miles, which has traditionally been a test of durability. Even so, the rules are different for each segment. While SUVs and minivans dominate the list of older vehicles, luxury sedans have a much higher turnover rate.
If you consider the luxury experience, the system makes sense. Mercedes buyers are more likely to switch to the latest model instead of driving an outdated edition. Luxury leases that last two or three years are also popular. However, the data published by the iSeeCars search engine in March 2017 shows that many buyers, both budget and luxury segments, are getting rid of the vehicles within a year of their purchase.
While inconstant luxury consumers may explain that some people leave their cars early, there are other factors at play. According to the CEO of iSeeCars.com, Phong Ly, several low-cost cars that the owners sold had low scores of J.D. Power Initial Quality In those cases, people are getting rid of a car before driving it crazy, and it did not even take 12 months. Here are 11 car owners who left the majority less than a year after having taken them out of the new lot. The study covered the model years 2015 to 2017.
Nissan Versa Sedan
There are not many mysteries surrounding the Nissan Versa Sedan. At an initial price of $ 11,990, it is the cheapest car in the US market. UU However, many Versa buyers did not enjoy enough experience to hold the car for a single year. According to iSeeCars data, more than 3% of the new Versa owners abandoned their car in the year after the property. Considering that Nissan sold more than 132,000 Versas in 2016 alone, that’s a lot of disappointed consumers.
The numbers of J.D. Power in Subaru WRX (especially STI) were bad when considering the initial quality of the vehicle. In fact, STI was rated among the worst in the class of compact cars for 2016. Judging by the resale market, it does not seem that consumers are happy to stick with this long-term sports model. 3.3% resold their new WRX before owning it for a whole year. On the positive side, the resale values remained firm, with original buyers losing only $ 2,000 after one year of ownership.
If you respect the qualifications of J.D. Power and Consumer Reports, distrust buying a Chrysler 200. Both testing agencies gave the sedan medium low ratings in terms of quality and overall reliability. Looking at the numbers in the iSeeCars study, 200 new buyers agreed. Almost 4% was sold in the year after the purchase of this car, and that meant losing a huge 30% of the original price of the model. The owners lost an average of $ 7,500 when they sold before the end of the year. No car had such bad performance in the used market.
According to the iSeeCars analysis, both BMW and Mercedes offer incentives for dealers to buy new cars for use as customer lenders. While waiting for service or repairs, luxury consumers may be tempted to buy the latest model, so dealers have good reason to keep them in inventory. Before these lenders have a year, sellers resell them at reduced prices. That theory could explain why he saw so many Class E sedans resold in his first year, at an average of 19% less than the original price.
BMW 4 Series
The BMW 4 Series was another popular model for buyers of new cars to sell within a year. If dealers offer these cars as lenders to, for example, Series 3 owners who are waiting for the service, you can see the ascending sale angle. Despite that, it cost the sellers more than $ 9,000 to get rid of a Series 4 car in a year after buying it again. That equals 17.3% of the original purchase price.
The list of the most abandoned vehicles included only an SUV, and BMW X3 claimed the honor. Once again, you can see why a dealer suggests this model as a loan for a BMW sedan consumer. As the US market UU Switching to SUVs, BMW drivers may be curious about how X models work. The investment of this dealer requires money, of course. The new X3 owners who sold within the first year of ownership lost 12.7% ($ 6,400) of the original price.
While luxury car dealers might have a method for craziness when selling in the first year, Dodge Dart owners were probably disappointed with their car. The power classifications of J.D. They gave this model poor ratings in quality and reliability, and journalists gave some of the worst revisions of 2016. Following the price change between new and one-year models, it appears that the owners of Dart were desperate to break free. Prices plummeted an impressive 27% ($ 5,700) after only one year of ownership.
Nissan Versa Note
With the very cheap Nissan Versa Note joining the sedan on this list, it has the feeling that some low-budget buyers simply needed wheels for a year and opted for low-priced models before leaving the ship. In any case, that decision cost them. New Versa Note buyers who turned around and sold in that first year saw their cars lose more than 20% ($ 3,400) in value in the transaction. The 4% that did it represented more than twice the average (1.5%) of the buyers who abandoned their cars quickly.
Looking at the three best cars people do not stay long, the percentage jumps considerably. Around 6% of buyers of Mercedes C-Class resold within a year after buying a new one. iSeeCars.com suggested that the loaned cars would not represent all of them. “Some consumers who buy these luxury models do so as their first foray into the brand, only to discover that … they do not provide the level of luxury they expect,” said Phong Ly. “Disappointed, these cars change exceptionally early.”
BMW 5 Series
Compared to the average (1.5%), the number of buyers of the BMW 5 Series that resold in the first year (7%) was dazzling. As Ly suggested, it would be difficult to attribute all these resales to the marketing strategies of BMW dealers. When Series 5 buyers returned to the market, they sacrificed an average of 18% ($ 11,200) to move their car to second hand buyers. Consumers looking for a used luxury model can find great value here.
BMW 3 Series
Between 2015 and 2016, BMW sold 165,000 new models of Series 3 to US consumers. According to iSeeCars data, 8% of them (13,200 cars) were resold in their first year, which was more than five times the average. The original buyers of the Series 3, whether BMW dealers or not, saw an average of 18% discount on the purchase price when they put them on the second-hand market. On average, that costs homeowners $ 8,000 for resale.