The best used cars to buy
“In general, new high-volume cars are also the most sought after in the pre-owned market. It’s very similar. However, we have noticed that the ones that are moving the most at the moment in the pre-owned market are Toyota and Kia. They are the (brands) that have become more expensive, ”says Jesús Garza, Operations and Commercial Director at OLX Autos.
“We see that the supply of Asian vehicles is more stable,” confirms Alejandro Guerra, director of Kavak Mexico.
The pre-owned market has not depreciated for three months in a row. Even, on average, used car prices have risen 6% so far this year. But in the case of some brands, their value has not only been maintained but has even risen. This is the case for models like the Toyota Sienna minivan or the Kia Rio subcompact.
“Some models of both brands have registered an appreciation of between 15% and 20%,” says Garza.
Normally there is a certain rate of depreciation throughout a year –explains David García, Kia’s national sales director in Mexico–, but as of June this rate stopped and even used models recovered part of that lost value.
These two brands, one Japanese and one South Korean, are among the five best-sellers in the country: Toyota occupies the fourth position with 9% of sales and Kia is the fifth with 8.1% of the market.
Daniel Esponda, is the co-founder and CEO of another platform for buying and selling used cars called Odetta, attributes this phenomenon to various factors. “Giving a seven-year warranty helps maintain the value of the vehicles,” he says.
Specialists agree that the used car bubble will last until the new car market begins to recover, which will happen from next year. “If you have a used car, this is the ideal time to sell it at a good price,” says Esponda.