Used-Car Prices Fall to Lowest Point This Year
Gas is cheap, and so are some used hybrid cars. The two models that had the biggest October declines in seller-set asking prices were the Toyota Prius Plug-In and Ford Fusion Hybrid. Average prices for the Prius Plug-In were down 5.7 percent ($1,110), and Fusion Hybrid prices dipped 4.4 percent ($849). The Prius Plug-In has been in the top 10 every month going back to May 2015. Since then, its average price has fallen 21.3 percent ($4,921).
Related: Value of Fuel-Efficient Cars Tank Amid Low Gas Prices
Two fuel-efficient cars, however, bucked the trend this month. Asking prices for the fully electric Nissan Leaf and Honda Insight hybrid were up slightly in October, increasing 0.6 percent ($80) and 0.3 percent ($42), respectively. Nevertheless, Leaf and Insight prices are down 13 percent ($1,880) and 5.5 percent ($836), respectively, since the beginning of May.
The Leaf and Insight were among just nine cars with price increases in the month of October, and the gains were relatively small across the board. Asking prices for the BMW 750i full-size luxury sedan were up the most, increasing 1.1 percent ($520). It was just ahead of the GMC Sierra 3500 heavy-duty pickup truck, which had a 1 percent ($431) price increase.
The average price for all 2012-2014 used cars listed for sale on Cars.com fell for the second month in a row in October, down 0.7 percent to $22,245. That’s the lowest it’s been year-to-date.
Editor’s note: The charts detail used cars from the 2012 to 2014 model years with the biggest drops and increases in seller-set prices. To be eligible for the lists, a model must have at least 250 cars listed for sale on Cars.com.
Source: Cars.com used-car listings, 2012 to 2014 model years
