Costs and Issues You May Not Be Aware of for Cheap Cars That Have Been Discontinued
Written by
Josephine Nesbit
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Automakers discontinue older models for various reasons, such as changes in consumer preferences, to get rid of uncompetitive models or to eliminate models that compete with others in their lineup, according to J.D. Power. Discontinued models are often cheaper, but they also come with other costs and issues you (and your budget) may not be aware of.
Here are some common costly issues you may run into if you own a cheaper car that’s been discontinued.
Also — to off set costs — here are 35 ways to save money on car expenses.
Availability of Parts
In many cases, finding replacement parts for a discontinued vehicle shouldn’t be a problem. According to VIP Automotive Group, most manufacturers use similar or the exact same parts for other models and many parts are also interchangeable between makes and models. Another option is to find the part from aftermarket sellers or from the original equipment manufacturer (OEM).
However, Autotrader added that you could run into some problems if the automaker has completely pulled out of the U.S. market with no parent company to distribute parts. For example, Saab and Suzuki are two brands that don’t have a dealer network or a parts distributor in the U.S., so finding available parts could be tricky.
Resale Value
Some discontinued vehicles could increase in value if they’re antiques, a collector’s item or become popular again, VIP Automotive Group reported, but most discontinued cars drop in resale value.
If you purchased a discontinued car because it’s cheaper, any savings could be wiped out when you go to sell. This is because most used car shoppers aren’t looking for discontinued cars and dealerships aren’t likely to offer a great price if you want to trade one in. But if you plan to keep the car for years, then this shouldn’t matter as the depreciation will eventually taper off, AP News reported.
Outdated Technology
Cars that were discontinued could lack modern safety features and technology, such as backup cameras, antitheft alerts, adaptive cruise control and more. And just like computers, certain vehicle features could become outdated and unsupported, especially on outdated models.
For example, 3G service was discontinued by AT&T for Volkswagen in 2022, according to Kim Komando, tech radio show host. Without connectivity, VW models built between 2014 and 2019 could no longer access smart features. Some Hyundai and Nissan owners also lost smart features when 3G service was eliminated.
Before purchasing a discontinued model, check it’s “headroom,” which means how long the car has before its hardware can’t accept updates, Kim Komando advised.
More From GOBankingRates
