Honda Civic, BMW 3 Series Among Used Cars With Biggest Price Decreases | Edmunds

Honda Civic, BMW 3 Series Among Used Cars With Biggest Price Decreases


Just the Facts:
  • The Honda Civic, BMW 3 Series, GMC Acadia and Chevrolet Traverse are among the used cars seeing the biggest price decreases, according to a new report by Edmunds.
  • Large crossovers like the Acadia and Traverse have seen the biggest year-over-year decreases, down 8.3 percent.
  • Prices on the 3 Series are down 5.3 percent, while Civic prices are down 2.7 percent year-over-year.

SANTA MONICA, California — The Honda Civic, BMW 3 Series, GMC Acadia and Chevrolet Traverse are among the used cars seeing the biggest price decreases, according to a new report by Edmunds.

Large crossovers like the Acadia and Traverse have seen the biggest year-over-year decreases, down 8.3 percent.

Prices on the 3 Series are down 5.3 percent, while Civic prices are down 2.7 percent year-over-year.

The pricing on the aforementioned models is the result of a glut of vehicles hitting used-car lots. The increase in supply will drive down prices by as much as 2 percent this year.

The report also found that falling used car prices are likely to affect all car buyers.

"Many car shoppers might not realize how much the new- and used-car markets feed off each other," said Philip Reed, Edmunds senior consumer advice editor. "The boom in new-car leases, for example, is leading to a higher number of lease returns, which adds to the growing inventory of used cars, forcing their prices down."

However, the drop in used-car values could raise the monthly payments of new-car leases. Softer "residual values" — a decline in what a car is worth at the end of the lease — are likely to cause higher monthly payments to make up the difference.

Edmunds provided an overview of the used car market's effect on all car shoppers in a recent news story.

Edmunds says: Important insights not just for used-car shoppers, but also for new-car shoppers, who could actually find their monthly payments going up.

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