Used cars are finally getting cheaper. Tesla's Model 3 and these 9 models are seeing the biggest price drops.
The popular Toyota RAV4 is among used cars whose prices are dropping fast.Toyota
- Used vehicle prices are finally coming back to Earth, which is great news for car shoppers.
- In December, prices were 3% lower than in the same month of 2021.
Ridiculously expensive used cars became the new normal when the pandemic mangled supply chains. Now we're heading back toward the old normal.
A used car lot is shown Friday, June 10, 2022, in Salt Lake City. Rick Bowmer/AP Photo
Prices for secondhand cars are finally dropping, coming down 3% year-over-year in December, according to the car search engine iSeeCars.com.
View of a used car dealership in Ridgewood, Queens New York on January 19, 2022. Pablo Monsalve/VIEWpress/Getty Images
Although prices declined throughout 2022, used vehicles only started getting cheaper on a year-over-year basis in November, according to iSeeCars.com's analysis.
A Toyota dealership in Florida. Joe Raedle/Getty Images
Still, some models are getting cheaper faster than others.
Jeep Wranglers are displayed at a Manhattan Fiat Chrysler dealership on July 23, 2018 in New York City. Spencer Platt/Getty Images
These 10 used models saw the biggest price drops in the last four months of 2022, according to a recent study by iSeeCars.com.
Ram trucks at a car dealership. AP Photo/David Zalubowski
The firm analyzed sales of 1-5-year-old cars, excluding any models that were discontinued as of 2022 or were on sale for 3 or fewer model years in the period studied.
Read more: Car buying is never going back to normal
10. Audi SQ5
The Audi SQ5. Hollis Johnson
- Average used price (December 2022): $44,447
- Price change from September-December: -$3,228
- Percent drop from September-December: -6.8%
9. Toyota Camry
2020 Toyota Camry TRD. Toyota
- Average used price (December 2022): $25,521
- Price change from September-December: -$1,912
- Percent drop from September-December: -7.0%
8. Ford Ecosport
The 2018 Ford EcoSport. Ford
- Average used price (December 2022): $20,064
- Price change from September-December: -$1,515
- Percent drop from September-December: -7.0%
7. GMC Acadia
2020 GMC Acadia AT4. GMC
- Average used price (December 2022): $30,922
- Price change from September-December: -$2,590
- Percent drop from September-December: -7.7%
6. Jaguar E-Pace
Jaguar E-Pace. Jaguar
- Average used price (December 2022): $35,221
- Price change from September-December: -$3,052
- Percent drop from September-December: -8.0%
5. Toyota RAV4
2019 Toyota RAV4. Toyota
- Average used price (December 2022): $28,383
- Price change from September-December: -$2,766
- Percent drop from September-December: -8.9%
4. Hyundai Ioniq Hybrid
2021 Hyundai Ioniq Hybrid. Hyundai
- Average used price (December 2022): $20,542
- Price change from September-December: -$2,527
- Percent drop from September-December: -11.0%
3. Ford Mustang
Ford Mustang. Ford
- Average used price (December 2022): $26,852
- Price change from September-December: -$3,495
- Percent drop from September-December: -11.5%
2. Nissan Kicks
Nissan
- Average used price (December 2022): $20,046
- Price change from September-December: -$2,718
- Percent drop from September-December: -11.9%
1. Tesla Model 3
Tesla Model 3. Tesla
- Average used price (December 2022): $43,817
- Price change from September-December: -$8,822
- Percent drop from September-December: -16.8%
Read more: Used Tesla prices are plummeting four times faster than other cars
Popular Right Now
Advertisement