According to the folks at iSeeCars.com, used‑car prices are continuing to surge, steadily reversing a two-and-a-half-year slide, even as electric‑vehicle values—especially Teslas—start to level off.
In its latest crunching of about 1.5 million privately sold 1‑ to 5‑year‑old vehicles, iSeeCars found that the average used car now costs $31,770—a jump of 3.7 % (about $1,146) over July 2024.
This marks the fifth consecutive month of rising prices, following declines as recent as August 2024. Prices increased 1% in March, 1.8% in April, 2.0% in May, and nearly 4.8% in June.
“Consumer demand for used cars remains strong, outstripping supply and driving prices up,” said Karl Brauer, executive analyst at iSeeCars, noting that rising new‑car prices and concerns over tariffs have steered more buyers toward the used market.
Not Universal
Used electric vehicle prices are still falling, though the rate of decline is slowing. After plunging 8.8% in May and 4.8% in June, used EV prices dropped only 1.3% in July—marking the shallowest year‑over‑year decline in more than two years.
Year-Over-Year Change in 1- to 5-Year-Old Used EV Prices
Even within the EV segment, Tesla models posted some of the steepest losses—falling 5.3% in July—while Chevrolet and Chrysler saw declines about half that. At the brand level, Infiniti bucked the trend, gaining 11.7% in value over the same period.
Downs and Ups
On the other end of the spectrum, models such as the BMW 4 Series delivered the largest gains, with a remarkable 30%increase year‑over‑year iSeeCars.
As Brauer explains, “Just as used electric vehicle prices are stabilizing, traditional used cars are going back up in value.” He added that “high new car prices, plus concern over tariffs… is likely leading to increased near‑term demand for both new and used vehicles”
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