Used Luxury-Car Prices Continue Slide in March

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Models from luxury brands accounted for seven of the top 10 used cars with the biggest price drops in March. That's the same number of luxury brands we saw on the list last month. Overall used-car prices held mostly steady in March, down just $6 to an average of $23,243.

Used Luxury-Car Prices Drop Most in February

Luxury brands had the majority of cars on the list, but the Chevrolet Volt extended-range electric car experienced the biggest price drop. It was down 3.1 percent ($811) to $25,000. This winter has not been kind to used Volt prices, which are down 10.5 percent ($2,922) since Dec. 1, 2013.

By Mike Hanley | March 27, 2014 | Comments (4)

Top 10 Used Cars for $10K

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Although new cars offer the latest design, tech and safety features, shoppers buy more of their used counterparts: about 2.7 used cars for every new car sold in 2013, according to CNW Marketing Research. It's hard to blame shoppers. The average new car sells for around $30,000. By contrast, the average used car sold in early January 2014 for $10,843 at franchised dealerships (e.g., Bob's Honda) and $9,513 at independent dealerships (e.g., Bob's Used Cars), according to CNW.

Top 10 Cheapest New Cars You Can Buy

The age of paying $10,000 for a brand-new car is in the rearview mirror. So what are the best used cars for $10,000? We crunched a lot of data, and from a pool of more than 60 candidates, here are our top 10 cars, listed alphabetically.

By Kelsey Mays | March 17, 2014 | Comments (8)

Used Luxury-Car Prices Drop Most in February

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Average prices for late-model used cars advanced slightly in February, increasing just $12 to $23,249 as of Feb. 1. Prices for used luxury models, however, were on the decline as seven of the 10 models with the biggest price drops were from the luxury class.

Study: Men Want Luxury Cars, Women Want Crossovers

The top five models with the biggest price drops were luxury models, and all saw their prices dip by more than 3 percent. The Cadillac DTS' price dropped the most, falling 3.6 percent ($1,025) to $27,634. Aside from the BMW X3 compact luxury crossover, which saw its price drop 3.3 percent ($1,233), all of the models in the top 10 were cars.

By Mike Hanley | February 21, 2014 | Comments (0)

Used Electric-Car Prices Fall in January, Luxury SUVs Gain

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Two high-profile electric cars, the Chevrolet Volt and Nissan Leaf, experienced the biggest price drops in January while luxury SUVs, especially Land Rovers, saw stronger asking prices.

Hybrid/Alternative-Fuel Car News

Average prices for late-model used cars fell to $23,237 in January. That's a decline of $307, or 1.3 percent, from December 2013. Prices for the Volt and Leaf, however, fell by considerably higher percentages; the average price of a used Volt was down 4.7 percent to $26,614 while the Leaf was at $20,148, a 3.6 percent decline.

By Mike Hanley | January 23, 2014 | Comments (3)

Used-Car Prices Hit New Low in December

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December late-model used-car prices hit a new low for 2013, falling $117 from November to an average of $21,952. That's $709 less than at the start of the year, and it's the first time this year that the average listing price on Cars.com has dropped below $22,000.

The Mitsubishi Outlander's 3.5 percent price drop gave it the biggest December decline; the crossover's average asking price sank $668 to $18,155. Luxury cars took the next four spots. The BMW Z4 roadster was among those, and it continued its string of $1,000-plus month-over-month price declines that date back to August 2013.

There were even fewer models with price gains in December than November, when only eight models met our 500-car inventory criteria. This month, just three models saw price gains, with the BMW X3 leading the way with a 1 percent gain to $32,493.

The charts detail used cars from the 2010 to 2012 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 500 cars in Cars.com's national inventory. 

By Mike Hanley | December 19, 2013 | Comments (0)

Used-Car Prices Fall to Lowest Point This Year

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Late-model used-car prices set a new low in November with the average price on Cars.com coming in at $22,069 — $112 lower than last month. The half percent price drop from October was the largest change since June of this year.

Prices for used luxury cars continued to see the biggest declines, taking the top four spots in November. The BMW Z4 led all models with a 3.6 percent price drop to $38,689. The asking price for the BMW roadster has been falling by more than $1,000 each month since August, perhaps a reflection of the upcoming winter months. Following the Z4 was the Audi A6, Infiniti M37 and BMW 128i, all of which experienced price drops in excess of 3 percent.

By Mike Hanley | November 25, 2013 | Comments (0)

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.

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

Used-Car Prices Cool Down

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According to industry experts, prices for used cars are still pretty high, but you can expect them to fall during the next few months thanks to an uptick in supply and a decrease in demand.

A consumer shift toward used-car purchases during the recession created a shortage of late-model, low-mileage used vehicles, which led to higher prices. Those vehicles are still commanding record prices on used-car lots, according to a New York Times report, but the National Automotive Dealers Association says that the price of used cars around 1 to 3 years old is expected to fall 1.5 percent by year's end, compared to last year's prices.

By Jennifer Geiger | October 21, 2013 | Comments (4)

Luxury-Car Prices Tumble Again in September

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Used luxury-car prices slid the most in September, continuing a trend from last month. The Infiniti M37's price dropped the most; it fell 4% ($1,288) to $34,687. The Volvo S60, Mercedes-Benz S-Class and BMW Z4 registered some of the largest price drops last month, and prices for all three fell yet again in September. The Z4's price dipped 3% ($1,445), while asking prices for the S-Class and S60 dropped 2% ($1,488 and $625, respectively).

There was considerably less price fluctuation among the cars that saw price gains in September, with all models in the top 10 getting a 1% price bump. Of the 10, half were pickup trucks or full-size vans, and not a single luxury model made the list.

By Mike Hanley | September 26, 2013 | Comments (0)

Checklist for Buying a Used Car

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When buying a used car, the name of the game is "check." Once you've decided on the make and model you want, check the seller's asking price against the going rate; check the cost of financing and insurance; check on the vehicle's history; check the engine, body and undercarriage when you take the vehicle for a test drive. To assist you in your checking, we've provided a checklist composed of these and many other helpful pieces of advice. Follow the link below and check off each of our tips before cutting a check.

Used-Car-Buyer's Checklist

By Matt Schmitz | September 22, 2013 | Comments (1)

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