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?

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Answer provided by
Joshua Levy
Answered on Apr 27, 2022
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.
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