Used Luxury-Car Prices Fall Again in April, Mainstream Models Rise
Luxury models again dominated the list of used cars with the biggest price drops, with nine of the cars in this month's top 10 from traditional luxury brands. Hyundai's full-size Equus sedan — a luxury car from a non-luxury brand — took the 10th spot. Luxury models have made up the majority of cars in the top 10 every month so far this year.
The average asking price for Land Rover's flagship Range Rover SUV dropped the most in April, falling 4 percent ($2,871). The Audi A3 and Mercedes-Benz CLS-Class round out the top three with price drops of 3.1 percent ($752) and 2.9 percent ($1,730), respectively.
The list of cars with the biggest April price gains was considerably more varied, with everything from heavy-duty pickup trucks to an electric car. The Chevrolet Express 1500 full-size van had the largest jump in asking price with a 2.9 percent ($594) increase. Close behind were the GMC Sierra 3500 and Nissan Leaf, which were up 2.6 percent ($1,158) and 2.5 percent ($488), respectively.
After a couple months of mostly static average used-car prices, asking prices ticked up in April. Late-model used-car prices were up .75 percent ($175) from the prior month to $23,418. The increase might be a reflection of more shopping activity as the spring selling season begins following a long, cold winter in many parts of the country.
The charts detail used cars from the 2011 to 2013 model years with the biggest price drops — as well as those with the biggest gains. To be eligible for the lists, a model had to have at least 250 cars in Cars.com's national inventory.
Source: Cars.com used-car listings, 2011 to 2013 model years
Cars.com photo by Evan Sears