10 Biggest Used Car Price Drops
July 31, 2014
As with everything that's for sale, prices can fluctuate. And when it comes to used cars, those prices can fluctuate by a great deal. According to Cars.com, for the third month in a row the average price for a late-model used car declined. In July, the average price dropped 0.78% to $22,919, bringing it down to below $23,000 for the first time in 2014.
July's biggest price drop was topped by an alternative-fuel vehicle. The Hyundai Sonata Hybrid saw the largest decline with a $653 price drop (3.2%) in July. In second place was the Lincoln MKZ with a 3.1% drop, and third was the Land Rover Range Rover with a 2.9% decline.
As for those with the biggest price increases, the Nissan Quest took the top spot in July with a price increase of $290 (1.3%). Rounding out the top three increases were the BMW M3 with a 1.1% increase and Ford E-350 Super Duty that rose 1%.
If you're currently shopping for a vehicles, I recommend you use TrueCar No Haggle, CarsDirect and NADAGuides to see the best prices in your local area.
Biggest Price Drops
| Vehicle | Avg. July Price | Difference from June | % Change |
|---|---|---|---|
| Hyundai Sonata Hybrid | $19,511 | -$653 | -3.2% |
| Lincoln MKZ | $23,544 | -$761 | -3.1% |
| Land Rover Range Rover | $64,113 | -$1,898 | -2.9% |
| Infiniti M37 | $30,710 | -$909 | -2.9% |
| Infiniti G25 | $21,695 | -$639 | -2.9% |
| BMW 650i | $65,996 | -$1,910 | -2.8% |
| Volvo S80 | $25,950 | -$750 | -2.8% |
| Chevrolet Volt | $23,306 | -$678 | -2.8% |
| Cadillac ATS | $29,822 | -$835 | -2.7% |
| Audi A8 | $57,508 | -$1,410 | -2.4% |
Biggest Price Increases
| Vehicle | Avg. July Price | Difference from June | % Change |
|---|---|---|---|
| Nissan Quest | $22,372 | $290 | 1.3% |
| BMW M3 | $52,399 | $547 | 1.1% |
| Ford E-350 Super Duty | $22,528 | $228 | 1.0% |
| Honda Civic Hybrid | $18,630 | $184 | 1.0% |
| Mercedes-Benz CLS-Class | $56,402 | $518 | 9.0% |
| Mercedes-Benz GL-Class | $46,671 | $319 | 0.7% |
| Subaru XV Crosstrek | $23,985 | $177 | 0.7% |
| Ford Ranger | $18,551 | $132 | 0.7% |
| Lincoln MKS | $29,024 | $182 | 0.6% |
| Jaguar XJ | $53,619 | $266 | 0.5% |
My Recommendation for Car Shoppers
TrueCar No-Haggle, CarsDirect, and NADAGuides 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.- Gregg Fidan
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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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