Used Car Values Among Discontinued Models

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The remnants bin in a bookstore is a good place to pick up a good book at a value and the same is true of discontinued models that manufacturers no longer want to produce and sell. They make strong used car values because prices drop on them quickly.

This year there are 12 models not being produced after the 2012 model year. Seek out 2009 versions of each and you should find bargains compared to other similar vehicles still being produced.

According to a list from USA Today.com, these 12 cars, pickups and crossovers are not being manufactured after the 2012 model year:
  • Dodge Caliber
  • Kia Sedona
  • Mitsubishi Eclipse
  • Mitsubishi Galant
  • Mazda CX-7
  • Lexus HS Hybrid
  • Mercedes-Benz R-Class
  • Hyundai Veraruz
  • GMC Canyon
  • Chevrolet Colorado

Let's look at each car and crossover individually. Some are going to be good used car values while others are just going to continue to be uninspired choices even when they hit the used car marketplace.

Dodge Caliber When the Dodge Caliber came out it was white hot. Then it quickly became almost an after thought. Truth was it was never a very compelling vehicle but it will suffice as basic transportation.

Kia Sedona Kia is getting awfully good at producing cars and crossovers. It never could quite get the minivan right. So it is opting out of the segment. The Kia Sedona is a decent vehicle and fits the bill as people mover just fine but it's not in the same category as the Honda, Toyota or Chrysler offerings.

Mitsubishi Eclipse

There's nothing wrong with the Eclipse. It's a fun little car. There's just no marketing at Mitsubishi any more. That helps, in part, to depress residual values. One caveat is there is not a wide dealer network for Mitsubishi. You might have trouble getting service if you buy a certified pre-owned model.
Mitsubishi Galant What a great sedan this. It's sporty, stylish and comfortable. Yet it's all but invisible thanks to the mythical Mitsubishi marketing. I'm adding a caveat to my caveat about buying Mitsubishi certified pre-owned. I'm not 100% convinced that Mitsubishi will be a presence in this country in five years (but I fully expect Suzuki to go first).

Mazda CX-7 I'm surprised to see this included on the list because it's a relatively new vehicle. However, Mazda is feeling the pinch. So something probably had to go. Plus, it was rated one of the most dangerous used cars.

Lexus HS Hybrid Good bye and good riddance. Lexus was smart to axe the Lexus HS Hybrid and you'll be smart to avoid it on the used car market - unless you find one for 20% below Kelley Blue Book value. Then, but only then, it might be worth considering because it would take away my objections to it being overpriced and not particularly fuel efficient.

Mercedes-Benz R-Class Potentially this crossover makes sense if you want a bulked up station wagon with lots of luxury. The Mercedes-Benz R350 is the better of the two because the R500, while powerful, is also fuel inefficient. This isn't a bad entry point into being a Mercedes owner if you can spot a good deal on a used one. It's just quirky enough that there shouldn't be a lot of competition.

Hyundai Veracruz It's a big crossover that at one point was Hyundai's most expensive vehicle. The biggest thing the big Hyundai Veracruz has going for it is a Hyundai. Look for some good values just because it's not wearing a Toyota or Honda badge.

GMC Canyon and Chevrolet Colorado are basically the same pickup and I'll say what I always say about used pickups. Go to the About Trucks website for good advice from Dale Wickell. He won't steer you wrong.

As always, before purchasing any used vehicle, especially those being discontinued, make sure you get a vehicle inspection done. It's a worthwhile investment because it can help spot potential problems, past accidents and if the seller has something to hide. Confident sellers don't mind having a vehicle inspection done. Nervous sellers always do when they have something to hide.
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