iSeeCars.com has released new data on the used car market, revealing a significant shift in pricing trends, particularly for electric vehicles (EVs).
“Yes, I just got an electric car myself last week, and everyone knows resale value is a big deal to me,” noted Car Pro Show host Jerry Reynolds. “So, is this a concern for me? Not in the least. Luckily, I listen to my own radio show and know that if you want an electric car, LEASE it, don’t buy it. WAY too much uncertainty. It is a good thing I did, used EV prices are dropping like a rock, while the rest of the used car market is holding steady. That is great news if you have a gas or hybrid trade-in.”
According to iSeeCars.com, the used car market has largely stabilized, with gasoline and hybrid models dropping less than 6% over the past year. However, the used EV market paints a different picture. Used EV prices, spearheaded by Tesla, have fallen approximately 15% to 20% each month over the last six months.
This decline puts the average price of a 1- to 5-year-old used EV at $32,198, exceeding the average price of a gasoline vehicle ($31,281) by $917. The iSeeCars study analyzed over 1.9 million used car sales from February 2024 to February 2025 to identify these trends.
Key findings from iSeeCars include:
- The average 1- to 5-year-old used car costs $31,257, a decrease of 0.8% ($239) year-over-year.
- Electric vehicle prices continue to fall sharply, down 15.1% ($5,709) year-over-year.
- Used gasoline and hybrid models are down 0.5% or less than $160.
- Tesla experienced the largest drop among all brands, down 13.6% ($5,013) year-over-year.
- The Tesla Model S, Model Y, and Model 3 are among the top six used cars with the biggest price drops, with the Porsche Taycan leading the list.
