Summer Slump Hits Used-Car Prices
Prices for late-model used cars were down 1.15 percent ($258) in July to an average of $22,507. It’s the fourth month in a row that prices have fallen, and they’re now $402 less than at the beginning of the year.
Related: Nissan Leaf, BMW 5 Series Among Best Used-Car Deals This Year
The Chevrolet Express 1500 full-size van took the biggest dive this month; its average price fell 4.9 percent ($1,170). The Toyota Prius Plug-in, which made the top 10 list for the third straight month, was next with a 4.2 percent ($906) decline. The Volkswagen Eos retractable-hardtop convertible was third with a 3.8 percent ($923) drop.
There were fewer models with significant price gains; only one car, the Fiat 500L four-door hatchback, had an increase of more than 2.4 percent. Its average asking price jumped 5.7 percent ($894) to $16,674.
The charts below detail used cars from the 2012 to 2014 model years with the biggest price drops and increases. To be eligible for the lists, a model must have at least 250 cars in Cars.com’s national search listings.
Source: Cars.com used-car listings, 2012 to 2014 model years
