Best Used Cars Under $40k for 2023
The best used cars, trucks, and SUVs under $40k based on a data-driven analysis of each vehicle's reliability, resale value and safety.
The best used SUV under $40k is the 2019 Toyota Highlander Hybrid with an iSeeCars rating of 9.2 out of 10 and an average used car price of $37,503. The 2022 Honda Ridgeline is the best used truck under $40k with a rating of 9.2 and a used car price of $39,988. The 2020 Lexus IS 350 is the best used sedan under $40k; it has an overall score of 9.3 and an average price of $37,894. The best used luxury passenger car under $40k is the 2020 Lexus IS 350 with an iSeeCars rating of 9.3 out of 10 and a price of $37,894. The 2019 Lexus RX 350 is the best used luxury SUV under $40,000, having an iSeeCars rating of 9.2 and price of $38,915.
The iSeeCars Rating/Score for each model is an analysis of three factors: reliability, resale value and safety based on over 12 million new and used vehicles in our Longest-Lasting Cars and 5-Year Depreciation Studies, combined with NHTSA and IIHS Safety Ratings.
Best Used Cars Under $40k
Best Used SUVs Under $40k
Best Used Trucks Under $40k
Best Used Hybrids Under $40k
Best Used Electrics Under $40k
How We Rank These Cars
iSeeCars Best Used Cars Under $40k Rankings are calculated based on the latest research by our data science team and the National Highway Traffic Safety Administration (NHTSA).
We analyze data from over 12 million new and used vehicles in our Longest-Lasting Cars and 5-Year Depreciation Studies, combined with the NHTSA's Safety Ratings to give you an unbiased guide to the best vehicles in each segment.
After being evaluated, vehicles with the highest average scores earn a spot in the iSeeCars Best Car Rankings. (No final score is given to vehicles missing a score in any of the categories, but scores for other categories are still shown.)
Vehicles are scored in three categories:
Reliability | 33.3%
The reliability score represents an analysis of iSeeCars' proprietary research on the longest-lasting vehicles.
Value Retention | 33.3%
The value retention score is based on our data science team's statistical analysis and prediction of 5-year depreciation from MSRP to determine which cars hold their value best, using US Bureau of Labor Statistics data to adjust for inflation.
Safety | 33.3%
The safety score is calculated based on the last five years of crash test ratings from the National Highway Traffic Safety Administration (NHTSA) and incorporates the latest Top Safety Pick information from the Insurance Institute for Highway Safety (IIHS).