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Biggest Price Drops on Popular Used Cars

December 22, 2011

According to automotive research site CarGurus, used car prices have dropped an average of 4.1% since September.

Some popular models have seen their prices drop by as much as 15%.

CarGurus believes prices are set to rise again beginning next year, so if you're in the market for a used car, you need to act soon.

Here are the largest price drops in the past 3 months on the most popular used vehicles.

Vehicle Type Year/Model Price on 9/9/11* Price on 12/9/11* Price Change


Small/Midsize Cars
2007 Toyota Prius $17,902 $15,269 -15%
($2,633)
2007 Hyundai Accent $9,714 $8,678 -13%
($1,349)
2008 Ford Focus $13,822 $12,302 -11%
($1,520)
2008 Honda Civic $16,632 $14,837 -11%
($1,798)
2007 Volkswagen Jetta $15,186 $13,563 -11%
($1,623)
2008 Hyundai Elantra $12,945 $11,646 -10%
($1,299)
2007 Mazda Mazda3 $13,575 $12,249 -10%
($1,326)
2006 Toyota Corolla $11,764 $10,685 -10%
($1,199)
Minivans and SUVs 2007 Kia Sedona $13,599 $12,147 -11%
($1,452)
2008 Dodge Grand Caravan $16,925 $15,312 -10%
($1,613)
2008 Ford Escape Hybrid $20,302 $18,331 -10% 
($1,901)
2006 Lincoln Navigator $20,543 $18,521 -10%
($2,022)

*The prices noted above are an average of thousands of listings analyzed by CarGurus, including cars with different trims, mileage and options.

Current market value for specific trims, mileage and options in any given zip code can be found at (CarGurus.com/dealfinder)


My Recommendation for Car Shoppers

TrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.

New York Tri-State Residents - Important:

There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.

- Gregg Fidan

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Gregg Fidan

About: Gregg Fidan


Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

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