Remember back when a 10-year-old car with perhaps 100,000 miles or more on the odometer was considered an inexpensive “beater,” best suited for freshly licensed drivers who couldn’t afford anything newer? Those days are long gone, with even older pre-owned models now commanding premium prices.
According to a study conducted by the online vehicle marketplace iSeeCars.com, soaring new-vehicle prices continue to force a record number of buyers to seek solace on the used-car side of a dealer’s lot. The website’s data shows that 10-year-old rides now account for 22.7% of the market, which is up from 17.2% in 2014. Not surprisingly, the added demand has resulted in an average 60 percent boost in decade-old vehicle values over the past 10 years, from $7,583 to $12,194.
Of note, sedans, wagons and hatchbacks – body styles that several automakers have all but left for dead in recent years – account for all but two of the 15 models the website identifies as having gained the most used-car market share over the previous decade.
“While not as popular with new car buyers, older sedans, wagons, and hatchbacks are gaining market share in the used car market,” says iSeeCars.com’s executive analyst Karl Brauer. “Their lower cost, lighter use, and higher fuel efficiency make them an excellent alternative to larger trucks and SUVs that cost more up front and more to fuel and insure.”
The good news here is that even cars that were new 10 years ago are proving to be durable and can be found packed with technology that remains current, making buying even an older vehicle less of a sacrifice and a mechanical question mark than ever.
These are the 15 models iSeeCars.com identifies as having the largest growth in demand over the past decade, with their change in market share and average transaction price, based on an analysis of 169 million models sold in the first half of 2024:
- Hyundai Sonata: +484.3% market share; +70.8% change in price
- Subaru Legacy: +316.8% market share; +59.7% change in price
- Subaru Impreza: +313.5% market share; +24.4% change in price
- Mercedes-Benz C-Class: +215.0% market share; +36.7% change in price
- Subaru Impreza Wagon: +195.7% market share; +57.2% change in price
- Mercedes-Benz E-Class: +172.7% market share; +41.8% change in price
- Hyundai Elantra: +166.7% market share; +84.7% change in price
- BMW 3 Series: +139.0% market share; +39.3% change in price
- Nissan Altima: +137.0% market share; +47.7% change in price
- Honda Odyssey: + 115.9% market share; +75.3% change in price
- Jeep Wrangler: +110.4% market share; +24.6% change in price
- BMW 5 Series: +110.1% market share; +36.7% change in price
- Volkswagen Jetta: +99.4% market share; +54.0% change in price
- Toyota Corolla: +85.3% market share; + 68.3% change in price
- Honda Civic: +74.1% market share; +77.7% change in price
Source: iSeeCars.com; you can read the full report here.
