Used-Car Prices Are Soaring—These 10 Are Still Total Steals
Looming tariffs and economic issues make these vehicles decent outlier options.
If you’ve taken a stroll through a car lot lately, you’ve probably noticed that things are looking up—and not in a good way for buyers. The first quarter of this year saw the average price for three-year-old used vehicles peak above $30,000, per car-shopping website Edmunds. The new total of $30,522 represents a 2.3 percent year-over-year increase.
The jump in price has also narrowed the gap between the latest models and previously owned cars, too. Market data shows that the price difference between three-year-old vehicles and new cars has shrunk to $16,970, Edmunds reports. This is the first time the gap has sunk below $17,000 since 2022.
Unfortunately, past sales data helps to explain why there may not be any relief coming anytime soon, either. Due to a decrease in the number of leases signed three years ago, most dealers are seeing fewer used cars make their way back to their lots for resale. It also appears that drivers are holding onto their vehicles for a lot longer, with the average age of trade-ins rising to 7.6 years this quarter, making it the highest seen in roughly six years.
According to Edmunds, this looming used car supply shortage might also be exacerbated by looming tariffs floated by President Donald Trump, which would cause the price of certain imported vehicles (and the parts to maintain them) to rise. The double whammy could cause used car prices to hike even higher in the coming years as supply continues to remain low.
But not all hope is lost for anyone in the market for a used car .
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According to a recent study conducted by car research website iSeeCars, certain makes and models that are one to five years old have actually seen their prices drop since last year. The vehicles listed below are the ones that topped the list for year-on-year price changes.
- Tesla Model X: Average used price $54,004 (-8.9 percent)
- Maserati Levante: Average used price $44,433 (-9.5 percent)
- Mercedes-Benz GLB: Average used price $32,403 (-9.9 percent)
- Ford Escape PHEV: Average used price $26,201 (-10.7 percent)
- Jeep Gladiator: Average used price $34,253 (-10.7 percent)
- Tesla Model 3: Average used price $25,361 (-10.8 percent)
- Ford Explorer Hybrid: Average used price $31,811 (-11.3 percent)
- Porsche Taycan: Average used price $75,644 (-12.7 percent)
- Tesla Model Y: Average used price $29,789 (-14.2 percent)
- Tesla Model S: Average used price $46,503 (-16 percent)
The high representation of electric vehicles such as Tesla on the list actually comes as a slowdown in the cratering of their used value seen over the past few years. Overall, the segment saw EVs dip 8.8 percent (or $2,993) year-over-year to an average of $31,110—a significant decrease compared to the 30 percent drop seen in 2024, per the study.
So, what’s driving these changes overall? Experts are pointing to some key indicators.
“Electric vehicles make up five of the top 10 models with the biggest price drops, with four of those being Teslas,” iSeeCars executive analyst Karl Brauer said of the findings. “Multiple factors contribute to a used car’s value, but being an electric vehicle and wearing the ‘Tesla’ brand appear to be a double negative.”
Still, he explained that wasn’t the only reason: “The car market continues to suffer from a COVID hangover, with reduced new car production between 2020 and 2022 leading to fewer 1- to 5-year-old used cars on the market in 2025. There’s also been a higher percentage of lease customers buying out their vehicles at the end of the lease, further restricting the used car supply.”
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It’s still not clear how much used vehicle pricing will shift when it comes to resale. According to Edmunds, this was evident a few years ago, when actual resale values in 2022 exceeded projections due to a chip shortage that constrained supply levels. Now, they warn that tariffs could create a similar issue.
“While resale values for today’s 3-year-old vehicles are higher than originally expected across the board, differences in tariff levels by country and the wide range of automaker pricing strategies are likely to create further discrepancies between projected and actual values,” Edmunds writes. “As most automakers face tariff-related pricing or supply challenges, more returning car shoppers may see a surprising boost in the value of a trade-in, especially if they have their eyes set on a model unaffected by tariffs.”
“For shoppers with trade-ins, country of assembly—usually a nonfactor—now plays an unexpected and potentially significant factor in a vehicle’s resale value,” Edmunds cautions. “It’s a good idea to get trade-in offers from multiple dealerships, especially if your vehicle was leased in lower volumes and is now built overseas.”
