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?

Find out if you’re getting ripped off on your car insurance in less than two minutes.
No spam · No long forms · No fees
Find savings (100% Free)
rating white
3.5k Ratings
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.
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.

Here to save on car and home insurance? Great, you do that. We’ll do everything else.

Sign up in under a minute.
No need to fill out forms or shop around. Sign up in 45 seconds to start saving. Jerry does the rest.
Jerry collects and analyzes your current coverage.
Say hello to Jerry, your new insurance agent. We’ll contact your insurance company, review your current plan, then find the coverage that fits your needs and saves you money.
Get the best options before your renewal.
Jerry does all the picky, busy work by comparing prices and coverage from more than 50+ insurance companies. We compare what we find to your current policy and offer you the three best options before every renewal.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free