If you are in the market for a car, we have some good news: Used car prices are continuing to fall.
After climbing throughout most of the COVID-19 pandemic, used car prices were down 8.7% in February year over year, according to automotive website iSeeCars.
For a handful of models, the price drop has been especially sharp in recent months. Following are the models with the biggest price drops in the past six months, according to a recent iSeeCars analysis of 1.8 million sales of used cars that were 1 to 5 years old.
10. Hyundai Ioniq Hybrid
Average used car price as of February 2023: $20,528 (which is 11% lower than it was in September 2022)
Last year’s model of the Hyundai Ioniq Hybrid has been praised for its fuel economy and large cargo area.
9. Toyota Camry
Average used car price as of February 2023: $24,384 (which is 11.1% lower than it was in September 2022)
The new Toyota Camry comes with three engine options and gets top marks for safety.
8. Toyota RAV4
Average used car price as of February 2023: $27,612 (which is 11.4% lower than it was in September 2022)
The latest edition of the Toyota RAV4 earns plaudits for its roomy seating and intuitive entertainment system.
7. Chevrolet Malibu
Average used car price as of February 2023: $19,082 (which is 11.4% lower than it was in September 2022)
The new Chevrolet Malibu has been singled out for its good looks and great infotainment features.
6. Toyota Prius Prime
Average used car price as of February 2023: $29,856 (which is 11.5% lower than it was in September 2022)
The latest edition of the Toyota Prius Prime has great fuel economy and is noted for its affordability compared with other plug-ins.
5. Jaguar E-Pace
Average used car price as of February 2023: $33,836 (which is 11.6% lower than it was in September 2022)
The new Jaguar E-Pace earns raves for its handling and design.
4. Toyota C-HR
Average used car price as of February 2023: $22,844 (which is 11.9% lower than it was in September 2022)
The latest model of the Toyota C-HR gets good marks for its safety features and sporty handling.
3. Nissan Leaf
Average used car price as of February 2023: $25,734 (which is 12% lower than it was in September 2022)
The new Nissan Leaf has been praised for its quiet and relatively comfortable ride.
The Leaf also appeared in our story “9 of the Cheapest Electric Vehicles in 2022.”
2. Nissan Kicks
Average used car price as of December: $19,713 (which is 13.4% lower than it was in September)
The latest edition of the Nissan Kicks is noted for its affordability and fuel economy.
1. Tesla Model 3
Average used car price as of December: $41,337 (which is 21.5% lower than it was in September)
Reviewers say the new Tesla Model 3 has good range and recharging capabilities.
The model also made the list of “The 8 Best Electric Vehicle Models, According to Owners.”