The 6 best luxury cars to buy used, according to Edmunds

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Buying a luxury car is an expensive proposition, but shoppers can potentially save tens of thousands of dollars by opting for a used model instead of one fresh off the assembly line, according to Edmunds.

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Roughly three million used cars were sold in November 2018 alone, even as the average price of used vehicles surpassed $20,000 for the first time since 2005, Edmunds reported. Buying used is still more cost-effective than buying new vehicles, the prices of which have also reached record highs.

Since the value of luxury model vehicles can depreciate by between 25 and 30 percent after just one year, shoppers can potentially save tens of thousands of dollars by buying a slightly older model. What’s more, Edmunds says used luxury models generally retain their value after initial depreciation takes place, though higher insurance and maintenance costs can eat into savings.

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Here are the six most cost-effective used luxury model vehicles to buy, according to Edmunds statistics provided to the Associated Press.

Audi A6

Average price of 2018 model: $57,742

Average price of 2015 used model: $26,305

Savings: 54 percent

BMW 3 Series

Average price of 2018 model: $44,036

Average price of 2015 used model: $22,796

Savings: 48 percent

BMW X3

Average price of 2018 model: $51,823

Average price of 2015 used model: $27,246

Savings: 47 percent

Cadillac XTS

Average price of 2018 model: $52,975

Average price of 2015 used model: $26,424

Savings: 50 percent

Lincoln Navigator

Average price of 2018 model: $89,146

Average price of 2015 used model: $35,237

Savings: 60 percent

Volvo XC60

Average price of 2018 model: $49,319

Average price of 2015 used model: $25,419

Savings: 48 percent

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