If you have been waiting for used car prices to come down before considering a purchase, the trend is your friend — at least for now. Average Roanoke-area prices are down from a year ago, reversing the pandemic-era pattern. More from WFIR’s Evan Jones:

From iSeeCars:

For used cars in Roanoke, the iSeeCars analysis found:

  • Used car prices changed by -4.0% between Oct. 2022 and Oct. 2023.

  • The average used car price is $29,656, compared to $30,881 last October.

 

Used Car Price Comparison by Segment (YoY) – iSeeCars Study

Segment

YoY Price Comparison

Average Price October 2023

Average Price October 2022

All Used Cars, Roanoke-Lynchburg, VA

-4.0%

$29,656

$30,881

All Used Cars, National Average

-5.1%

$30,972

$32,627

EVs

-33.7%

$34,994

$52,821

Hybrids

-9.6%

$31,511

$34,850

The study also identified which used cars had the biggest 12-month price drops in Roanoke:

Top 5 Used Cars With the Biggest Price Drops in Roanoke-Lynchburg, VA – iSeeCars Study

Rank

Model

YoY Price Comparison

Average Price October 2023

Average Price October 2022

1

Hyundai Tucson

-21.1%

$20,311

$25,743

2

Mitsubishi Outlander Sport

-19.8%

$19,337

$24,098

3

Toyota RAV4 Hybrid

-15.9%

$30,458

$36,216

4

Jeep Grand Cherokee

-15.0%

$31,496

$37,041

5

Dodge Durango

-13.6%

$31,986

$37,017