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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 and CarsDirect 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% |
3 Steps Every Car Buyer Needs to Take to Save Maximum Money
The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:Step 1 Get Prices From My Trusted Network
Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).Select Vehicle to Get Local Pricing
Step 2 Get Prices From TrueCar / CarsDirect
TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.Step 3 Complete my Checklist
Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan
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About The Author
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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