Used-Car Prices Down Nearly 2 Percent in May

The average price for a late-model used car fell nearly 2 percent in May to $22,788, according to Cars.com vehicle listings data. That’s $379 less than the month before and the largest monthly percentage drop year-to-date.

Related: Used Nissan Leaf Prices Still Falling in April

Fuel-efficient and alternative-powertrain cars continue to top the list of vehicles with the biggest price drops, as the nationwide average for a gallon of gas remains relatively low. Three of the top five models with the biggest price decreases in May — the Smart ForTwo, Nissan Leaf and Toyota Prius Plug-in — are small or efficiency-minded vehicles; their prices were down 5.2 percent ($544), 5.1 percent ($734) and 3.2 percent ($735), respectively.

Not all used-car prices decreased, however. Chevrolet Express prices gained about 2 percent in May; two versions of the full-size van took the top two spots on the list. The Chevrolet Corvette and Nissan 370Z sports cars and Ram 1500 full-size pickup truck had 0.9 percent price gains.

The charts detail used cars from the 2012 to 2014 model years with the biggest price drops and increases. To be eligible for the lists, a model had to have at least 250 cars in Cars.com’s national search listings.

Source: Cars.com used-car listings, 2012 to 2014 model years