For those looking to avoid big depreciation, it’s probably wise to avoid the premium segment. Thirteen of the 20 biggest losers, in terms of second-hand value, were luxury vehicles from Audi, Mercedes, Alfa Romeo, Porsche, and their ilk.
Although the used car market is normalizing, it isn’t quite normal yet. The average price for a lightly-used vehicle is $41,812, and there are still 14 vehicles that actually appreciate after leaving the dealer lot.Used Car Prices Take A Hit In 2023 With Tesla Model 3 Losing $11,000 In 6 Months The biggest gainer is the Ford Maverick , which is quite a ways ahead of the next-biggest appreciator, the Toyota Corolla Hybrid . Overall, the vehicles that are gaining value are fuel-efficient and sensible and tend to be reasonably priced.. The third best performing vehicle, in terms of second-hand value, lightly used examples of the luxury SUV are worth an average of 4.6 percent more than they were new.
While prices are no doubt being helped by the fact that new vehicle production is returning to normal, other factors are also contributing to the second-hand market finding a healthier equilibrium. “Inflation and interest rates are among the primary factors impacting consumer spending, as reflected in a substantial drop in used car pricing over the past year,” said Karl Brauer, iSeeCars.com Executive Analyst.
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