October Used-Car Prices Hold Steady Near June Low

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Used luxury-car prices continued sliding for a third straight month in October as overall used-car prices remained steady near the low of $22,153 reached in June. The average price on Oct. 1 for late-model used cars listed on Cars.com was $22,181.

Four of the top 10 models with the biggest price drops this month were luxury cars. A non-luxury model, the Nissan Quest minivan, led all vehicles with a 3.6 percent price decrease of $848 from the month before. Immediately following it were three luxury models: the BMW Z4 (down 3.4 percent), Land Rover Range Rover (down 3.2 percent) and Infiniti M37 (down 2.9 percent). The M37 and Z4 experienced some of the biggest price drops last month, too.

Several luxury models, primarily full-size SUVs, bucked that trend by registering modest price gains. The average price for the Infiniti QX56 jumped 1.4 percent ($701) while the Cadillac Escalade ESV and Mercedes-Benz GL-Class prices were up just 0.1 percent.

The charts detail the top 10 used cars from the 2010 to 2012 model years with the biggest price drops — as well as the 10 with the biggest gains. To be eligible for the lists, a model had to have 500 cars in Cars.com's national inventory.

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Source: Cars.com used-car listings, 2010 to 2012 model years

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By Mike Hanley | October 28, 2013 | Comments (0)

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