Used Car Prices Fall to Lowest Levels in Four Years

used car lot (select to view enlarged photo)

SANTA MONICA, CA--Nov. 13, 2013: Used car prices have hit their lowest levels in four years, says The data suggests that the used car market is finally softening after years of notoriously elevated prices.

According to's Used Car Market Quarterly Report, the average used car sold by franchise dealers in the third quarter of 2013 was $15,617. The average price was 2.8 percent lower than in the previous quarter, and 0.9 percent lower than in the third quarter of 2012. The last time used car prices ran so low was in the third quarter of 2009, when the average car sold at a franchise dealership was $14,808.

"Now that the new car market has hit its stride, buyers are no longer drawn to used cars the way they have been in recent years," says's Director of Used Car Analysis Joe Spina. "Used car prices will likely continue to decline in the coming months simply because there will be more of these vehicles sitting on dealer lots."

While softer prices are a good sign for used car buyers, points out that prices still are relatively higher than they were before the recession. Average used car prices crossed the $15,000 threshold for the first time at the end of 2009, and have remained above that level ever since. At their peak, used car prices averaged $16,473 in the second quarter of 2011.

Shoppers looking to score the best deal on a used car may want to consider brands such as Volvo, GMC and Chevrolet; vehicles produced by those three automakers sat on used dealer lots longer than any other brand in the third quarter. At the other end of the spectrum, Japanese brands such as Honda, Toyota and Lexus were in the most demand in the third quarter -- and therefore likely carried the most elevated prices. offers a wealth of valuable insights into the used car market with its Used Market Quarterly Report. The latest report for Q3 2013 is available for download right now at Used Car Market .

Home | Buyers Guides For Every Auto Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | 2016-1993 Car Reviews Truck Reviews
1996-2016 Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2016 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | XML SITE MAP | Affiliates

Send your questions, comments, and suggestions to

Submit Company releases or Product News stories to
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: