Chances are, if you watch TV tonight, you will see a holiday-themed car commercial about the savings that can be had on a new vehicle
But as it turns out, the discounts on some used vehicles are merry and bright, as well.
According to an of 2.4 million sales of 1- to 5-year-old vehicles, passenger cars represented all 10 of the used models most likely to have savings of at least 5 percent in December. And eight of those are sedans.
“Given the declining sedan segment, dealers are more likely to discount these cars in order to sell them,” iSeeCars chief executive Phong Ly said in the analysis.
Topping the list was the BMW 3 Series. There are 26.6 percent more deals (of 5 percent or more) on 3 Series vehicles than the average vehicle.
While the 3 Series’ luxury peers on the list are further down the rankings — Mercedes-Benz E-Class at No. 6, Mercedes-Benz C-Class at No. 9 and the Audi A4 at No. 10 — they share one particular trait, among others: the impact of being highly leased cars.
“The growth in popularity of auto leases in recent years has led to an influx of these often-leased luxury vehicles in the used-car marketplace after their lease terms end,” said Ly.
After the 3 Series at No. 1, next up is the Ford Fiesta and Ford Focus, both of which have 24.2 percent more deals than the average car.
Within all the passenger cars on the list, six were compacts, iSeeCars said.
“Cheaper fuel prices have contributed to the declining popularity of compact and subcompact cars, which explains why this segment is so frequently discounted,” said Ly.
The Chevrolet Camaro, one of two sports cars to make the list, was at No. 4, with 23.1 percent more deals than average.
The other sports cars on the list was the Ford Mustang at No. 8 (19.9 percent more deals).
“Buying a used sports car often isn’t as attractive as buying vehicles in other segments because they are subject to a lot of wear and tear due to how they are driven,” said Ly. “Camaros and Mustangs are similarly priced, and a 5-percent savings on these vehicles amounts to over $1,000, which can help incentivize used car buyers.”
The complete top 10 is below:
1. BMW 3 Series 26.6 percent (more deals)
2. Ford Fiesta 24.2 percent
3. Ford Focus 24.2 percent
4. Chevrolet Camaro 23.1 percent
5. Volkswagen Passat 21.7 percent
6. Mercedes-Benz E-Class 21.2 percent
7. Volkswagen Jetta 20.1 percent
8. Ford Mustang 19.9 percent
9. Mercedes-Benz C-Class 18.9 percent
10. Audi A4 17.7 percent