iSeeCars’ Best Used Cars for the Money for 2024

Highlights:

• The Chevrolet Trax is the best 5-year-old used car for the money, with an average price of $17,274 and 120,000 miles of remaining lifespan

• The Toyota Avalon is the best 10-year-old used car for the money, with an average price of $16,986 and 124,000 miles of remaining lifespan

• The Honda Ridgeline is the best 5-year-old used truck for the money, with an average price of $30,026 and a remaining lifespan of 182,000 miles

• The Honda CR-V is the best 10-year-old SUV for the money, with an average price of $15,726 and a remaining lifespan of 111,000 miles

• The best used cars for the money are ranked by their price per 10,000 miles of remaining lifespan, with the lowest priced models representing the highest used car value

The need to find value in the used car market has never been greater, with high vehicle prices and reduced spending power straining consumer budgets. iSeeCars has identified the best used cars for the money and ranked them based on the lowest price for every 10,000 miles of remaining lifespan. Both 5- and 10-year-old used cars were evaluated, and only models with either 100,000-plus miles of remaining lifespan (for 5-year-old models) or 80,000-plus miles of remaining lifespan (for 10-year-old models) were considered. Under these conditions, the Chevrolet Trax is the best 5-year-old used car for the money, and the Toyota Avalon is the best 10-year-old used car for the money.

“With the spike in used vehicle pricing over the past five years, buyers are seeking the best value for their used-car dollars,” said iSeeCars Executive Analyst Karl Brauer. “We’ve identified the models with the lowest purchase price and the longest remaining lifespan, providing shoppers with a list of used cars they can purchase and rely on for many years.”

iSeeCars analyzed the prices of over 1.1 million 5- and 10-year-old cars sold from September to December 2023 and compared them to the remaining lifespan of those cars, based on a proprietary model that estimated the probability each vehicle would survive to various mileage thresholds using odometer readings from over 312 million vehicles, in order to determine the best used cars for the money.

The 20 best 5-year-old cars for the money

Chevrolet takes the top-ranked Best Used Cars for the Money spot with its Trax small SUV at an average 5-year-old price of $17,274 with 119,833 remaining miles, or 64.9 percent remaining lifespan. But Honda is the most dominant brand on the list, with seven of the 20 best 5-year-old used cars for the money. The Honda Fit and Insight are in positions 2 and 3, respectively. 

Mazda, Mitsubishi, Nissan, and Toyota all have two models in the top 20, while Buick, Ford, Hyundai, and Jeep each have one entry. Twelve of the top 20 best used cars for the money are SUVs.

For consumers on a budget, there are six options under $20,000 on the "best 5-year-old used cars for the money" list. These range from the Mitsubishi Outlander Sport at an average price of $17,199 with 114,789 remaining miles, to the Hyundai Tucson priced at $19,869 with 109,019 remaining miles.   

“All of these models retain at least 60 percent of their lifespan, yet they all cost substantially less for each 10,000 miles of remaining lifespan than the average used car,” said Brauer. “The price of used vehicles remains historically high, but these 20 models represent excellent value.”

The 20 best 10-year-old used cars for the money

Toyota is the top brand when it comes to the best 10-year-old used cars for the money, with the Avalon in the top spot and the Prius, Sequoia, Tacoma, 4Runner, RAV4, and Tundra also making the list. Add in three models from its premium sister brand, Lexus, and Toyota occupies half of the top 20 list.

Honda is also well represented with four models, including the CR-V, Accord, Ridgeline, and Pilot. Mazda has two vehicles on the list, followed by Acura, Buick, Infiniti, and Lincoln with one each.

“Used car buyers on a tight budget can still find plenty of life left in these 10-year-old cars,” said Brauer. “For less than $13,000 a vehicle like the Buick Encore or Mazda CX-9 still has more than 40 percent of its lifespan remaining, which equates to more than 80,000 miles of use.”

Best 5-year-old used trucks for the money

The Toyota Tacoma has a reputation for durability and long life, but the Honda Ridgeline edges ahead of it into the first-ranked spot when it comes to best value for the money. The Ridgeline’s average 5-year-old price of $30,026 is lower than the Tacoma’s price of $33,116, while its remaining lifespan is 7,457 miles higher. The lowest priced best 5-year-old used truck for the money is the third-ranked Nissan Frontier, at just $24,834 with 119,844 remaining miles. 

“Midsize trucks don’t have the capability of full-size models when it comes to towing and hauling,” said Brauer, “but they clearly have an advantage when it comes to cost and lifespan. If you don’t need a full-size truck, a used midsize model offers far better value.”

Best 10-year-old used trucks for the money

With 80,000 miles as the minimum remaining lifespan required, only five trucks make the list. Three of them are midsize trucks, with Honda’s Ridgeline again beating Toyota’s stalwart Tacoma for the top spot. Two full-size models, the Chevrolet Silverado 1500 and Nissan Titan, also make the cut, but fall below the segment averages.

“Trucks have some of the longest lifespans in the automotive world, but their use cases can be pretty demanding,” said Brauer. “To have 40-plus percent of a truck’s life remaining after 10 years shows how durable these vehicles can be.”

Best 5-year-old used SUVs for the money

Smaller SUVs, including the Chevrolet Trax, Buick Encore, and Honda CR-V, dominate this list, but three-row models like the Buick Encore, Honda Pilot, and Mazda CX-9 give buyers with a large family several high-value options to consider.

“All of these SUVs have more than 50 percent of their lifespan remaining, with most of them costing less than $25,000,” said Brauer. “Knowing you have more than 100,000 miles of useful life left, at that price point, can give used car shoppers some much-needed peace of mind.”

Best 10-year-old used SUVs for the money

Nine models offer better-than-average numbers for shoppers seeking a high-value 10-year-old SUV. The Honda CR-V, Mazda CX-9, and Lincoln MKX earn the top three spots, but with most of these vehicles priced under $20,000 there’s plenty to choose from for buyers looking to cut their upfront costs while retaining a healthy lifespan.

“With an 80,000-mile minimum lifespan to make this list, and eight models offering more than 100,000 miles, these SUVs all offer several years of practical and flexible use,” said Brauer.

Best 5-year-old used passenger cars for the money

While 17 5-year-old passenger cars have at least 100,000 miles of remaining lifespan, only 4 offer better-than-average pricing in this segment. Honda is clearly the value leader in the used passenger car category, with the Fit, Insight, and Accord taking the top three positions. Luxury buyers can choose from six Lexus models or the Lincoln MKZ. 

“The average 5-year-old passenger car still has more than 136,000 miles of remaining lifespan,” said Brauer. “And at an average price of just over $24,000, used car shoppers can save money on both purchase price and operating costs like fuel and insurance compared to the more popular SUV category.”

Best 10-year-old used passenger cars for the money

Shopping for a 10-year-old used car doesn’t mean buying a low-quality, worn-out vehicle. Eight of these 10 cars have over 100,000 miles of usable life left, and most of them cost less than $20,000.

The Toyota Avalon, Honda Accord, and Lexus GS 350 all offer an appealing combination of comfort, space, and confident driving dynamics. The Toyota Prius c delivers those same qualities while adding exceptional fuel efficiency.

“When shopping 10-year-old passenger cars there’s really only one automaker to consider – Toyota,” said Brauer. “Between its mainstream brand and its Lexus luxury brand, this Japanese automaker dominates the best 10-year-old used cars for the money.”

The vehicles highlighted in this study offer both realistic pricing and long-term functionality. They represent the best value for used car shoppers.

More from iSeeCars:

• Best New Cars for the Money

• Best SUVs

• Most Reliable Used SUVs

Methodology

iSeeCars analyzed the prices of over 1.1 million 5- and 10-year-old cars sold in September to December 2023 and the odometer readings of over 312 million cars. The odometer readings for each vehicle were fed into a proprietary model that estimated the probability that each vehicle would survive to various mileage thresholds. This model of survival was used to calculate the average life of each vehicle, as well as the average mileage after five and ten years of driving. The average prices for each 5- and 10-year-old vehicle were then calculated and compared to the remaining lifespan, and expressed as a purchase price per 10,000 miles. Heavy-duty and low-volume vehicles were excluded from further analysis. To guarantee that the recommended models have a meaningful remaining driving lifespan, a requirement that 5-year-old and 10-year-old models have at least 100,000 and 80,000 miles of remaining lifespan, respectively, was further imposed on the data.

About iSeeCars.com

This article, Best Used Cars for the Money, originally appeared on iSeeCars.com