With the Shortage of New Inventory, it’s Important to Consider Buying a Used Subaru
The automotive market is still experiencing low inventory of new vehicles due to a semiconductor shortage and other factors brought on by the coronavirus pandemic. Many dealerships have empty space on their lots, waiting for new cars to arrive, or they’ve filled them with used vehicles. Considering the low inventory of new cars and a demand as high as ever, pricing has naturally gone up. In February 2022, the average price for a new vehicle was $44,232, compared to $30,694 in January 2015. Pricing for used vehicles is also higher than normal, but the supply and demand in that part of the market is not experiencing such intense extremes. For years, Subaru has been a popular brand to buy used, since it is a name associated with quality, long-lasting vehicles. This year, Consumer Reports compiled a list of the most reliable 3-year-old cars and SUVs, and placed two used Subaru models among the best.
What did Consumer Reports say specifically about three-year-old Subarus?
Buying a three-year-old used vehicle is a tip many consumers are using to get the best value when purchasing a vehicle. At this age, most of the safety and tech features are similar to new models, and the value has depreciated enough to provide significant savings. On a recent list of most reliable 3-year-old cars and SUVs compiled by Consumer Reports, the used Subaru Crosstrek and Legacy were rated as top options. CR chose these two models due to their high safety scores, fuel economy, and top reliability ratings. The 2019 Crosstrek was rated as one of the most reliable in the small SUV category, achieving the best road scores and an overall average fuel economy of 29mpg. The used Subaru Legacy also took the best road scores in the midsize sedan category, scoring high in reliability and getting a 27mpg overall city/highway mpg.
How much does a Subaru Depreciate in Three Years?
A used Subaru can be found for two thirds or close to half of its original price by the time it’s three years old. Immediately after driving a new car off of the dealership’s lot, a vehicle loses approximately 10% of its value. In the first year of ownership, a used vehicle will depreciate by about 20%. For the next four years, the value drops between 15-25% yearly, with depreciation slowing down after the fifth year of ownership. Given these trends, many consumers look for vehicles in the 3-year-old sweet spot to get a vehicle with relatively new features at close to half of its original price.
Do Used Subarus hold their value?
Although new vehicles can depreciate quickly, used Subarus are known for holding resale value. Subaru was ranked by Kelley Blue Book as the Best Resale Value Brand in 2020. KBB highlighted Subaru’s all-wheel drive as a standard feature on nearly all models, in addition to its reputation for reliability, quality, and durability. The Subaru Crosstrek, Forester, and Outback made Kelley Blue Book’s list of “2022 Best Resale Value” in the SUV category. The Crosstrek averaged 52.3% for resale value, the Forester 47.2%, and the Outback 45.2%.
Is a used Subaru Maintenance Expensive?
It’s always important to check a used vehicle for any potential issues, but modern cars are proving to be reliable and long-lasting, meaning a used vehicle does not necessarily translate to expensive maintenance. Five-year-old vehicles have an average yearly maintenance cost of $350, while ten-year-old vehicles are just under $600 a year. Major repairs occur about every three years for a five-year-old car and every 18-20 months for a ten-year-old car. When buying a Subaru Certified Pre-Owned Vehicle, consumers know their used Subaru is in the best possible condition after a rigorous 152-point inspection. Each Subaru Certified Pre-Owned vehicle is also backed by a 7-year/10,000-mile powertrain coverage plan and 24/7 roadside assistance.
Rafferty Subaru has a Wide Selection of Used Subarus
With the low inventory and high prices of new cars, it’s a good time to consider buying a used vehicle. If you are looking for a used Subaru in Philadelphia, stop by Rafferty Subaru. Our inventory includes a wide variety of used Subarus that can help you find the sweet spot between modern features and affordable pricing. Come out to Rafferty Subaru today to view our inventory of used Subarus and take one for a test drive!
