Car research site iSeeCars.com recently revealed its list of vehicles with the biggest price decreases from July to August 2020.
5 Cars With the Biggest Drops in Price
Although there was a trend of car prices increasing from July to August, some vehicles actually got cheaper.
Among the top three vehicles with the biggest price drops were two Chevrolet subcompact cars: the Sonic and Spark.
“These vehicles target bargain-conscious consumers as two of the lowest-priced vehicles available,” iSeeCars CEO Phong Ly said in a news release.
Let’s look at the used cars that dropped in price the most according to the report.
These Used Vehicles Had the Biggest Price Decreases
Used Vehicle | Average Used Car Price | Price Difference From July 2020 (In Dollars) | Price Difference From July 2020 (in %) |
---|---|---|---|
Chevrolet Sonic | $10,463 | -$243 | -2.3% |
GMC Yukon XL | $42,317 | -$811 | -1.9% |
Chevrolet Spark | $9,839 | -$185 | -1.8% |
Ford Fusion Energi | $16,844 | -$313 | -1.8% |
Ford Ecosport | $17,409 | -$199 | -1.1% |
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Money expert Clark Howard doesn’t want you to be guided strictly by price when it comes to buying a vehicle.
He says, because the pandemic has caused uncertain economic times, you need to make sure of two things before you purchase any car:
- That you need a car and were already planning on buying one
- That your financial situation is stable enough to afford a car for the life of the loan period
"Even with [the great deals], buying a vehicle is a major decision," Clark says. "It is the second-biggest expense most of us have."
Looking for a used car to fit your budget? Here are seven steps you need to follow.
More Content From Clark.com:
The post Report: 5 Cars With the Biggest Drops in Price appeared first on Clark Howard.
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