zzdcar
Home
/
Reviews
/
Buying
/
Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study
Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study-October 2024
2024-02-19 EST 22:09:34

Image for article titled Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study

Despite what early on in the pandemic, the coronavirus did not crash the car market. In fact, due to inventory shortages and many buyers wanting their own transportation aside from ride-hailing and public transit, the car market was . Used cars especially were affected, and according to a by iSeeCars.com, buyers paid an average of 9.5 percent more in October compared with last year.

The used car market is still going strong, according to some recent data from iSeeCars.com buyers saw some substantial increases for certain used models in October versus last year. The methodology for this data is as follows -

iSeeCars.com analyzed over 1.2 million used car sales from model years 2015 to 2019 in October 2020, and over 1.3 million used car sales from model years 2014 to 2018 in October 2019. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as both a percentage difference from the 2019 price as well as a dollar difference. Heavy-duty vehicles and low-volume vehicles were excluded from further analysis.

Image for article titled Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study

The fact that pickup trunks dominated the list comes as no surprise, as many because of factory closures due to COVID-19. However, the BMW 5 Series, surprisingly, takes the No. 1 spot. This is odd, considering that demand for sedans has been in decline for a while.

Another interesting development with this data is that convertible prices jumped up by 27.2 percent compared to last year. So if you are looking for a deal on a used Miata it may be best to wait until after the holidays. Furthermore, two-door models have also seen a big increase in price.

Image for article titled Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study

iSeeCars executive analyst Karl Brauer explains -

Demand for sports cars outpaces what is available in the used car marketplace, and dealers don’t have to be competitive with pricing because buyers of these kinds of cars may not be bargain-conscious.

On the bright side, some used models saw a decrease in price compared with October of 2019.

Image for article titled Used Car Prices Rose Almost 10 Percent Compared With Last Year: Study

Within this grouping, the key-value seems to be the Chrysler Pacifica for folks shopping for a family car, because if you need to haul kiddos around you should just buy the damn minivan.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Go For the Gold Duster for $8,750!
Go For the Gold Duster for $8,750!
Zombie car brands, like their brain-slurping human counterparts, are not typically fastidious regarding their appearance. However, has a Plymouth that's been dusted off and looks like it'll do more than just shamble. A cool Corona sounded good to only 53% of you in a tight contest yesterday which saw the...
Oct 31, 2025
Tainted Love - 2005 Lotus Elise for $19,500!
Tainted Love - 2005 Lotus Elise for $19,500!
If the Queen ever knighted the Lotus Elise, its title could be Sir Costsalot because even used, it's pretty pricey. Well, today has an Elise that's on the cheap - and its title is salvage. The back end of yesterday's proved almost as popular as that of Megan Fox as...
Oct 31, 2025
I Only Have a Corona - $3,400 Deposit!
I Only Have a Corona - $3,400 Deposit!
Someday people will look back upon the Camry with fondness and desire, and when that day arrives, I hope to be long-dead. Until then, has its predecessor for you to get all nostalgic about. Great Corey Haim's ghost! The pulled out a white knuckler 50/50 tie in yesterday's voting! For...
Oct 31, 2025
2011 Ford F-Series Super Duty: First Drive
2011 Ford F-Series Super Duty: First Drive
The 's a gamble. Ford's newest heavy hauler abandons the well-known Navistar-supplied Powerstroke diesel for a brand new all-Ford designed powerplant supposedly delivering monstrous power, squeaky-clean emissions, better fuel economy and the same price. Seems suspiciously impressive. Full disclosure: Ford wanted me to drive the new Super Duty so much...
Oct 31, 2025
Put a Notch on Your Belt for $5,400
Put a Notch on Your Belt for $5,400
Whether Fast or Square, VW's Type 3 was all about the back. One back we in the U.S. didn't officially get was the Notch, but has one that might make you say baby got back. VW introduced the Type 3 in 1961, expanding their product line beyond the Beetle, Type...
Oct 31, 2025
Ace of Base for $1,900!
Ace of Base for $1,900!
Usually, buying a high-priced escort means not traveling solo, and ensuring a good time. Today, wants to know if it's a good time to hook up with a low-priced Escort, or, to go it alone? While 60% of you found yesterday's to be nicely priced at $19,500, most everyone tempered...
Oct 31, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved