When buying a car, shoppers weigh a lot of factors, but resale value and depreciation are especially important.
This is true particularly at a time when new and used vehicle prices are volatile.
Industry experts at iSeeCars.com pulled data on the average list price for the 10 most popular used gas-powered cars that were 1 to 5 years old. (Note: Listing price does not necessarily mean final transaction price.)
For example, in 2020, used Chevy Equinox SUVs between 1 and 5 years old were listed for $22,533 on average. So far in 2023, used Chevy Equinox SUVs (in that same age range) were listed for $27,867 on average, marking a 23.7% increase in listing prices for those cars over the past three years.
Used Ram 1500 pickups in that age range saw the largest percent increase in their average listing price since 2020 at a whopping 32%.
If you're in the market for one of the 10 most popular used gas-powered vehicles, you might want to take a look at what they're listing for.
And if you bought one of these cars over the past several years and are looking to sell it used, you may be in luck. Your trade-in value might not be as high as it once was, but certain vehicles are still in high demand.
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