50 Cars That are Plummeting in Value

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#34 – Mitsubishi Lancer

Class: Subcompact Car
Production: 1973-2017
Starting Price: $17,795+
Depreciation Rate: 28.9%

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“Time tested. Road proven.” Marketed as everything from the Colt Lancer and the Dodge/Plymouth Colt to the Chrysler Lancer, Hindustan Lancer, and the Mitsubishi Galant Fortis, the Mitsubishi Lancer first hit the roadways in 1973. Over the next four decades, nine generations of Lancers were introduced with over six million sold until 2017 when Mitsubishi stopped production of the popular subcompact car in the American market. Today, Lancers are only produced in Taiwan and mainland China where the high demand of the model keeps the line affordable with a starting price of only $17,795.

Over the last few years, the Lancer’s depreciation rate has decreased from 35% to 28.9%, which brings the new car sticker price of $17,639 down to $12,533 after the first year. That isn’t the most shocking figure according to Edmunds.com, which reports that the true cost to own after five years is nearly doubled at $31,868. While Lancers in the China market depreciate at a different value because of the ongoing demand and variations in the industry, Lancer owners in the American market are finding that new Lancers are affordable but pre-owned Lancers are much lighter on the pocketbook with used prices between $10,000 and $12,000.