Used Electric Vehicle Prices Plummet 

"Yes, I just got an electric car myself last week and everyone knows resale value is a big deal to me.  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, do 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.  Our friends at iSeeCars.com did an in-depth study on this subject." - Car Pro Show Host Jerry Reynolds

iSeeCars is sharing its latest data into the used car market. Researchers say it's largely stabilized, dropping less than 6% over the past year, when it comes to gas and hybrid models. 

However, when it comes to used electric vehicle (EVs), it's a different story. Used EV prices - led by Tesla - have plunged 15%- 20% each month over the last six months. The number crunchers at iSeeCars say this puts the average 1- to 5-year-old used EV price at $32,198, or $917 above the price of the average gasoline vehicle at $31,281.

iSeeCars says it's latest study analyzed over 1.9 million used cars sold in February 2024 and February 2025 to identify used car pricing trends. 

Here are some of the detailed iSeeCars stats:

• The average 1- to 5-year-old used car costs $31,257, down 0.8% ($239) from a year ago, while electric vehicle prices continue their sharp decline, dropping 15.1% ($5,709) from a year ago
• Used gasoline and hybrid models are each down 0.5%, or less than $160
• Tesla had the largest drop among all brands, down 13.6% ($5,013) over the past year
• The Tesla Model S, Model Y and Model 3 all rank in the top six used cars with the biggest price drops in the past year, with the Porsche Taycan at the top of the list

To see this very comprehensive study, click here: