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How much is a used 2016 Hyundai Elantra worth?
I’m trying to upgrade to a better car by selling my old one. Unfortunately, I won’t know what kind of car I can afford until I understand how much I can get for my current car. Exactly how much should a used 2016 Hyundai Elantra be worth?
Joshua Levy · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
When the 2016
Hyundai Elantra
was first released, buyers could purchase it brand new for around $22,000. But given the quick depreciation rate of cars and the huge amount of competition, a new 2016 Elantra is only worth about $14,000.While that’s still a fairly large sum, that only applies for cars that are like brand new. Used 2016 Elantras can go for as little as $7,000 depending on the condition and mileage. If you’ve put some work into keeping your car in top condition, you’ll likely be able to sell it for closer to $14,000.
Of course, getting the most out of your old car is mostly about finding the right seller. While it’s typically easiest to trade in your car at the dealership, you can often find a better deal with private sellers. But if you’re selling your car privately, you’ll need to read up on your local DMV’s car selling policies.
Your 2016 Hyundai Elantra won’t bring in enough money to buy a new car outright, but it can significantly offset the price. And taking further steps to save on
car expenses
like car insurance can make buying a new car seem even more affordable.Luckily, saving on car insurance is faster and easier than ever with
Jerry
. A licensed broker, the Jerry app helps users compare personalized quotes collected from top providers like Progressive and Allstate in minutes. When you find a quote you like, Jerry can help you switch plans and even help cancel your old policy.Users save an average of over $800 a year on car insurance with Jerry—and it only takes a minute to sign up.
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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