Late-model used-car prices continued their steady decline in October, reaching a new low for the year. Average listing prices for 2011 to 2013 models stood at $22,071, which is 1.3 percent ($283) less than September. Prices are down 5 percent ($1,166) since January.
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Mitsubishi Galant prices dropped the most this month; prices for the midsize sedan were down 4.2 percent ($559) from the month before. Just behind it was the Kia Sedona minivan and BMW 328i compact luxury car with price drops of 3.9 percent ($659) and 3.4 percent ($943), respectively.