Used car prices have been on the rise for the past two years, but the good news is they’re going down. According to a recent study conducted by iSeeCars, “Used car prices he dropped 2% in November, followed by he dropped 3% in December.” It may not sound like a big deal but in the overall range of the market it’s quite a difference to see the price cuts on a more detailed level his 5 used that had the biggest price cuts The car is shown below.
5. Toyota RAV4
The Toyota RAV4 is one of the most legendary heavyweights in the crossover category. It offers buyers a comfortable ride, fuel-efficient powertrain options, and all-wheel drive capability for demanding roads and trails. It’s no surprise that demand for the RAV4 remains high, even as prices skyrocket.
Fortunately, according to iSeeCars, the average used car price of the RAV4 fell 8.9% from September to December last year, equating to $28,383 last month. That’s good news for those looking to get into Toyota’s most popular SUV.
4. Hyundai Ionic Hybrid
The Hyundai Ioniq Hybrid is a great alternative to mileage champions like the Toyota Prius. Car and Driver said the Ioniq is a “hybrid or plug-in he hybrid perfect for those who want a hatchback that is unobtrusive in its own right and can be driven like a normal car.” Of course, buyers can expect an average of around 50 mpg in the Ioniq Hybrid.
Also, the average price for the last month is expected to be $20,542. According to iSeeCars data, the average Ioniq price fell 11% from September to December. This is a big difference.
3. Ford Mustang
Few other sports cars are as iconic as the Ford Mustang. This American muscle car offers buyers a choice between a fuel-efficient and powerful turbocharged 4-cylinder engine and a powerful V8 engine. What’s more, this power comes at a fair price.
Data show that the average price of the Ford Mustang fell 11.5% last quarter. So the average price for a buyer to buy a Mustang is $26,852.
2. Nissan Kicks
The Nissan Kicks is a small SUV with good road manners and a fuel-efficient 122 horsepower engine. There’s also ample cargo and storage space, plus high-tech features like an 8-inch touchscreen and adaptive cruise control. Did I mention cheap?
At the end of last year, the average Nissan Kicks price was $20,046, down 11.9% from September 2022. A small SUV that saves fuel and saves you money at the dealer.
1. Tesla Model 3
Across-the-board Tesla price cuts have been the talk of the auto industry lately. Lower demand has led to lower overall prices. One such Tesla is the Model 3, which offers buyers a gateway to electric vehicle ownership in addition to all sorts of advanced technical features.
iSeeCars found that Tesla Model 3 prices fell 16.8% in the final quarter of last year. That means a prospective buyer can expect to pay around $43,817 for one of his. It may seem expensive for an entry-level electric car, but its price is better than it has been in years.
“Price volatility since September has been the biggest for any model in recent months, with the Tesla Model 3 losing almost 17% of its value and the Nissan Kicks, Ford Mustang and Hyundai Ionic Hybrid all dropping more than 10%. It shows that you have been hit.”
Karl Brauer, iSeeCars.com Executive Analyst
5 used cars with a high price drop rate
Used car prices have increased slightly over the last few years. However, prospects can breathe a sigh of relief. While the price drop seems small across the board, we do see some savings on certain high-yield models, some of which are his five used cars listed here. If buyers are looking for the best deals, these models are a great place to start.