Trend reverses as average used vehicle prices in region decline
Description
If you have been waiting for used car prices to come down before considering a purchase, the trend is your friend — at least for now. Average Roanoke-area prices are down from a year ago, reversing the pandemic-era pattern. More from WFIR’s Evan Jones:
From iSeeCars:
For used cars in Roanoke, the iSeeCars analysis found:
Used car prices changed by -4.0% between Oct. 2022 and Oct. 2023.
The average used car price is $29,656, compared to $30,881 last October.
Used Car Price Comparison by Segment (YoY) – iSeeCars Study
Segment
YoY Price Comparison
Average Price October 2023
Average Price October 2022
All Used Cars, Roanoke-Lynchburg, VA
-4.0%
$29,656
$30,881
All Used Cars, National Average
-5.1%
$30,972
$32,627
EVs
-33.7%
$34,994
$52,821
Hybrids
-9.6%
$31,511
$34,850
The study also identified which used cars had the biggest 12-month price drops in Roanoke:
Top 5 Used Cars With the Biggest Price Drops in Roanoke-Lynchburg, VA – iSeeCars Study
Rank
Model
YoY Price Comparison
Average Price October 2023
Average Price October 2022
1
Hyundai Tucson
-21.1%
$20,311
$25,743
2
Mitsubishi Outlander Sport
-19.8%
$19,337
$24,098
3
Toyota RAV4 Hybrid
-15.9%
$30,458
$36,216
4
Jeep Grand Cherokee
-15.0%
$31,496
$37,041
5
Dodge Durango
-13.6%
$31,986
$37,017
The post Trend reverses as average used vehicle prices in region decline first appeared on News/Talk 960-AM & FM-107.3 WFIR.
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