New car sales have definitely been hit during the coronavirus pandemic. However, people are still shopping, and while it’s extremely difficult to keep track of used car sales, it’s a little easier to monitor average prices. This is what iSeeCars did in its latest study of the US auto market, and it looks like the overall demand for used cars is strong.
Going deeper, the study analyzed nearly a million used car sales in July and August and found which vehicles are more popular than others. Overall used car prices rose about 4% in August from July, but vehicles in this top ten list saw prices rise even more – in some cases more than double the average .
Yes, that means you will likely pay more for these vehicles if you want one. However, if you already own something here, there is a good chance that you might trade a higher trade-in value if you decide to upgrade. As expected, SUVs dominate, but there are also sedans and a few fun cars in the mix. Here’s how it breaks down, from worst to first.
Land Rover Range Rover Evoque
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7.0% price increase
Oddly enough, Land Rover was largely on a recent list of vehicles that are longest on dealer lots. Maybe that’s because sellers demand the best price, as this is the first of three Land Rovers on the list. The Evoque’s average sale price for August was $ 29,866, up $ 1,961 from July.
Ford Mustang
7.2% price increase
The world’s best-selling new sports car is obviously very popular in the used market in the United States. Prices for the Mustang increased $ 1,940 in August to an average of $ 28,715.
Volvo XC60
7.6% price increase
The brave Swede doesn’t get much attention, but the XC60 is a popular crossover. Average selling prices increased by $ 2,042 to reach $ 29,011.
BMW 7 Series
7.6% price increase
It’s a curious entry on the list, as the 7 Series is known to plunge resale values in the used market. That might actually explain why he’s here, with buyers seeking a deal to smoke on a luxury sedan that normally departures at $ 86,000. At $ 45,213, a used Series 7 costs about half the cost of a new one, but that price is still an increase of $ 3,209 from July.
BMW 4 Series
Price increase of 7.9%
A similar method, new or used, could fuel demand for second-hand Bimmers from the 4 Series. BMW fans could also settle for second-hand models to avoid the highly controversial new-era G22 styling. Either way, the average price for the Series 4 was $ 28,064 in August, up $ 2,050.
Land Rover Discovery Sport
Price increase of 7.9%
The second Land Rover on the list, the Discovery Sport sits on dealer lots for almost four months on average. However, in August, its average sale price rose to $ 28,839, an increase of $ 2,121.
Lexus RX 350
8.4% price increase
Oddly, you won’t save much in the used market for the RX 350. MSRP starts around $ 45,000, but as of August, used models were still selling for $ 35,055, up from $ 2,707. compared to July.
Volvo S60
8.6% price increase
Volvo’s suave S60 sedan is a tempting second-hand find at a low price. The secret may be revealed, as average August selling prices increased by $ 1,829. Still, at $ 23,105, it’s a tempting buy.
Land Rover Range Rover Sport
8.9% price increase
The dollar’s biggest month-over-month increase goes to the Range Rover Sport at $ 4,226. It’s also the most expensive vehicle on this list with an average selling price of $ 51,502. In percentage, however, he is beaten by an old American favorite who just won’t die.
Dodge challenger
9.0% price increase
Despite being over ten years old, the Dodge Challenger enjoys seemingly endless popularity in the United States. This is why used prices remain high, and in August they jumped to $ 32,163. Compared to July, this is an increase of $ 2,667. If you currently drive one and fancy a newer model, stick with your stance on swap negotiations. The dealer knows it will be a cinch to return it for a quick profit.
