Everything is getting more expensive, and that includes used cars. Prices spiked during the COVID-19 pandemic and only started to fall last year. However, new data indicates used car prices are definitely beginning to creep back up. The average one- to five-year-old used vehicle sold for $32,317 last month.
That’s up 2.0 percent compared to May 2024, or $630 on average, according to the new iSeeCars report. That might not seem like much, but average used car prices increased by 1.0 percent and 1.8 percent in March and April, respectively, indicating an upward trend after a year of steady decreases. The average used car sold for $29,651 in December 2024.
| Segment | Ave. May 2025 Price | $ Difference YoY | % Difference YoY |
| Overall Used Cars | $32,317 | $630 | 2.0% |
| Trucks | $39,880 | $633 | 1.7% |
| SUVs | $32,880 | $1,354 | 4.3% |
| Passenger Cars/Minivans | $27,292 | -$555 | -2.0% |
| Hybrids | $30,702 | $538 | 1.8% |
| EVs | $31,110 | -$2,993 | -8.8% |
However, used electric vehicle prices are still struggling. They were down 8.8 percent last month compared to May 2024, selling for an average of $31,110, or $2,993 less than before.
That’s a drastic difference compared to the overall used segment, but an improvement compared to the nearly 30 percent price drop that used EVs experienced last June. Despite that, used EV prices have been above $31,000 since January, according to iSeeCars’ data, up from a recent low of $27,345 six months ago.
Tesla Price Struggle
Leading the vehicles with the largest year-over-year price drops are a pair of Teslas—the Model S and Model Y. They experienced price drops of 16.0 percent and 14.2 percent, respectively, selling for an average of $45,503 and $29,786 in May. The Model X and Model 3 also made the top ten, with Tesla accounting for four of the five EVs on the list. Another EV is the Porsche Taycan, with prices down 12.7 percent last month.
Big Price Jumps
With used car prices spiking, some models saw bigger increases compared to others last month. Prices for the BMW 4 Series were up nearly 20 percent in May, with examples selling for $6,649 more than they did in May 2024. Infiniti QX60 prices also increased by 16.5 percent. Porsche 718 Boxster prices increased by 15.7 percent, while Cayman prices jumped by 15.7 percent.
Used Chevrolet Trax prices also rose. They’re up 15.5 percent, with buyers paying around $2,600 more than a year ago. This is likely a result of increased demand for cheap, affordable vehicles, a trend that’s appearing across the industry even as prices continue to rise.
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