Shopping for a used vehicle? You can learn a lot by examining how long it takes for certain cars to leave the dealership lots.
A recent report from car research site iSeeCars.com shows which used vehicles are selling the fastest.
To come up with its report, iSeeCars analyzed more than 224,000 new and used cars sold in June 2022. The research found that the average used car took 52.1 days to sell in June. In May, that figure was 50.4 days.
Which Used Cars Are Selling the Fastest?
The Tesla Model Y is the #1 fastest-selling used car, taking an average of 24.9 days to sell, according to iSeeCars. Tesla has three models among the top six fastest-selling used vehicles. The Model 3 (27.7) and the Model X (28.0) comes in fifth and sixth on the list respectively.
In the report, iSeeCars Executive Analyst Karl Brauer says the used Tesla vehicles are in demand due to the company’s waitlists for its newer models.
“The earliest delivery time for a new Tesla Model Y is January 2023 for the base model and August 2022 for the performance version, which is further elevating the demand for the used versions that just entered the used car marketplace,” Brauer is quoted as saying. “The Model X and Model 3 have waitlists for their new versions as well, which include April 2023 for the base Model X and October 2022 for the base Model 3.”
Let’s take a look at the fastest-selling used cars, according to iSeeCars.com.
|Rank/Vehicle Model||Average Days To Sell||Average Price|
|1. Tesla Model Y||24.9||$69,784|
|2. Toyota Prius Prime||25.1||$31,867|
|3. Ford Mustang Mach-E||26.8||$60,881|
|4. Toyota Prius||27.0||$28,029|
|5. Tesla Model 3||27.7||$52,216|
|6. Tesla Model X||28.0||$90,089|
|7. Mazda Mazda3||28.8||$24,890|
|8. Kia K5||29.9||$31,357|
|9. Toyota Highlander Hybrid||32.3||$45,521|
|10. Acura ILX||32.6||$26,182|
But given today’s inflated prices on used vehicles, he’s tweaked that advice a bit.
“If you can buy that three-year-old vehicle for a third less than what a new one would be, then go ahead and buy the three-year-old used vehicle,” Clark says. “On the other hand, if the gap is less than that, that would push you more toward buying a new one.”
Clark says he expects used car prices to decrease at some point. Here’s when Clark projects car prices will go down.