10 popular used vehicles whose price has fallen since 2023
If you're currently in the process of shopping for a used vehicle, you should know that inventories are back to normal after years of pandemics that deeply affected the market. Another piece of good news is that inflation has eased relatively since last year.
In fact, the average price of used vehicles in Quebec fell from $36,055 in September 2023 to $32,662 in February 2024, according to the latest figures from Otogo.ca. This represents a drop of 9.4% in just six months, helped in particular by models less than 5 years old, whose average price fell by 13.9%. What a difference that makes to your wallet!
The price drops are most noticeable among luxury brands, led by Audi, but also among some popular brands, such as Volkswagen, Jeep and Ford. Now, if we focus on specific pre-owned models among the most popular with buyers, including many electrics, here are 10 that cost less right now than they did at the end of last summer:
Ford F-150
Average price ($45,128) down 10% since September 2023
Toyota RAV4
Average price ($33,012) down 2% since September 2023
Honda CR-V
Average price ($29,922) down 2% since September 2023
Honda Civic
Average price ($22,522) down 1% since September 2023
Hyundai IONIQ 6
Average price ($54,883) down 17% since September 2023
Volkswagen ID.4
Average price ($46,141) down 16% since September 2023
Tesla Model 3
Average price ($38,311) down 14% since September 2023
Chevrolet Bolt EV
Average price ($29,681) down 13% since September 2023
Chevrolet Volt
Average price ($18,932) down 13% since September 2023
Nissan LEAF
Average price ($22,781) down 8% since September 2023
Spring is typically a busy time in the market, so it remains to be seen how prices will evolve as many Quebecers look to upgrade their vehicles in the near future. It's probably wiser to buy now than to wait.
