Coronavirus Impact on Used Cars: Car Deals to Look For

Tesla Model 3

Toyota RAV4 Hybrid

Volkswagen Atlas

Mitsubishi Eclipse Cross

Average Price: $17,450

The Mitsubishi Eclipse Cross is one of the most affordable cars on the list and probably the most affordable crossover here. With an average price of $17,450 and a sales drop of 19 percent, you will likely find plenty of dealers who want to clear their Mitsu stocks. This should help you find deals that suit your needs.

It is powered by a 1.5-liter, turbocharged four-cylinder engine. Though it comes with a CVT transmission only, each trim does come with optional AWD.

Tesla Model X

Average price: $70,162–$88,114

The Tesla Model X is the most expensive car 0n this list. And despite the steep asking price, the Model X is quite a popular model among used car buyers. In addition, Teslas tend to hold their value better than other cars. According to the study, Model X has lost 17.5 percent of its sales in the period. The slowdown will see dealers offering better deals on the Model X.

Another point to note here is that the demand for Model X is likely to decrease with the new Model Y crossover now on sale. This makes the Model X a high-risk vehicle for used car dealers. And you can push for a better deal on the Model X that works in your favor, provided you are willing to shell out over $70,000 for an electric crossover.

Chevrolet Spark

Toyota RAV4

Toyota CH-R

Average price: $19,727

Another popular Toyota on the used car market is the CH-R. This quirky crossover is powered by a 2.0-liter four-cylinder engine making 144 hp and 139 lb-ft of torque. The CH-R is 8th on the list and has experienced a slump of 16.8 percent. The CH-R is also a relatively new car in the market and will appeal to the younger buyers looking for a deal on their first car.

The only downside if any could be the fact that the CH-R comes with a CVT gearbox and FWD only.

Lexus GX 460

Average cost: $29,236–$47,830

The Lexus GX460 is the only luxury car on this list. Apart from being the only luxury car, it is also the only true off-roader on the list as well. With a sales slump of 16.7 percent and a relatively high cost of $37,420 for a three-year-old vehicle, dealers will likely be offering lucrative deals on their inventory.

For the money, you get a 301 hp, 4.6-liter V8 engine, impeccable off-road manners, a luxurious cabin and bulletproof Toyota reliability. If you want a luxury off-roader on a budget, it doesn’t get any better than the Lexus GX.

Honda HR-V

Average cost: $17,670–$21,688

Honda HR-V stands at number 10 on the list with a sales slowdown of 16.6 percent. Although it is among the less popular models on the used car market, it is still a viable choice for anyone looking for a sub-compact crossover.

Now, due to the current slowdown, it is likely that dealers will be offering a decent discount on the HR-V. If you are looking for one, try to negotiate an upgrade in equipment or to a higher trim.

Honda Pilot

Average cost: $19,003–$34,494

One of the most popular mid-size SUVs in the North American market and the chief rival of the Toyota Highlander, the Honda Pilot trumps its fellow Japanese competitor in size and possibly versatility.

If you want a reliable mid-size SUV with the capacity to move house in a single trip, Pilot is the SUV to pick. It gets a V6 engine with ample power, plus rear entertainment in the higher trims, and is as reliable as a stone. With a 16.2 percent slump in sales, you can bargain for a deal that fetches you a high-trim Pilot with the family-friendly entertainment option plus the in-cabin PA system.

Toyota Highlander

Average cost: $22,561–$30,269

The Toyota Highlander is the one true rival of the Honda Pilot, even in the used car market. The Highlander sells in higher numbers compared to the Honda Pilot, so this one could be a little harder to negotiate on the price, even with a 16 percent sales slump.

The Highlander received a generation just this year and since you will be getting the old model only, you could use that fact to swing the deal in your favor. We suggest you go for the V6-powered trims rather than the four-cylinder powered versions.

Honda Civic

Average cost: $12,812–$19,404

The Honda Civic is undoubtedly one of the most popular sedans out there. Civics also do incredibly well in the used car market and retain their resale value for a lot longer than other cars. That is why prices are usually non-negotiable. But not anymore.

With a sales slump of almost 16 percent, dealers will likely be looking at getting rid of their old inventory. So you could try and negotiate the price to get a better deal. With the current generation now five years old you will likely get a great deal of around $15,000.

Honda Odyssey

Average cost: $18,974–$33,573

The quintessential minivan, the Honda Odyssey is 14th on the list of 15 cars and saw a sales slump of 15.8 percent. It is a popular minivan among large families and for good reason. It not only has a fantastic safety rating but is also the most versatile with Magic Seats and a foldable middle row. Plus, it gets systems like Cabin Talk, adaptive cruise control and radar-guided safety systems.

Anyone looking for a minivan should definitely give this one a look especially now as sales are in a slump and the prices are likely to be lower.

Honda CR-V

Average cost: $16,752–$26,571

The CR-V is one of the most popular SUVs in its segment. A lot of it is down to the reliability but it is also thanks to the balanced package that is on offer. The CR-V is also the 15th on the list with a slump of 15.7 percent.

The CR-V recently received a facelift which should aid in getting a better deal at the used car dealer. Yes, the downside will be that the safety tech was not standard on all trims but if you opt for a trim that is above the base, you should be fine.