Here's How Much A 2022 Hyundai Elantra N Has Depreciated In 4 Years

For better and worse, Hyundai products, when new, tend to undercut their rivals from Japan and Germany, but the flip side of that is residual values that may not hold up against those rivals either. A double-edged sword for first owners, but an opportunity for an absolute bargain for that second guy. Case in point: the Elantra N sport compact, which was already a bargain in relation to, say, the Honda Civic Type R and Volkswagen Golf R off the showroom. Add four years of depreciation and Hyundai's front-wheel-drive, four-door rocket can now be had for about 70% of its original price on the used market.

Today, the 2022 Hyundai Elantra N has a Kelley Blue Book Fair Purchase Price of just $23,000, down more than 10 grand from its original MSRP of $33,245. Taking a quick AutoTrader inventory of all 2022 N Elantras, the least expensive examples seem to have a floor of $20,000 while the nicest ones top out at around $28,000. For perspective, a brand new, base-as-it-gets, 147-horsepower 2026 Elantra SE starts at $23,870 after destination fees. 

That used N might have a bit more miles on it and perhaps an odd smell you'll never quite get out, but look past that, and you're obviously getting a lot more car for similar money. Think 276 horsepower (286 once you engage N Grin Shift) from a turbocharged 2.0-liter four-cylinder, a slick six-speed manual or accessibly quick eight-speed dual-clutch transmission, an electronic limited-slip differential up front, big brakes, and way more aggressive styling inside and out.

The last time Jalopnik reviewed an Elantra N, we called it a "bargain-store BMW M3" and "one of the best performance cars on the market, hands down." Granted, that was a review of the refreshed 2024 model, but I reviewed this car for The Drive when it first came out, and I can attest that those praises hold for older models too. And if a new '24 Elantra N were a bargain-store M3, then a used '22 would be... a thrift-store M3.