Used Car Price Gap Grows to $15K in Q3 Report
Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.

A “flood” of off-lease units offers used car buyers a wide selection and a major savings over similarly equipped new vehicles, according to Edmunds analysts.
Photo courtesy Edmunds
SANTA MONICA, Calif. — Car shoppers feeling squeezed by rising new vehicle prices might be pleasantly surprised by how much further they can stretch their dollars in the used car market, according to the latest Used Vehicle Report released by the experts at Edmunds.
Edmunds data reveals buyers could have saved $14,951 on average if they purchased a 3-year-old used vehicle instead of its new equivalent in the third quarter of 2019. This is the largest average price gap between 3-year-old used and new vehicles that Edmunds has on record for the third quarter.

Thanks to a flood of off-lease trucks and SUVs entering the used car market, Edmunds experts say that shoppers no longer have to compromise on body styles and options as they have in years past. In 2019, SUVs and trucks combined will make up 52.6% of lease returns, marking the first time they will surpass the number of off-lease passenger cars returning to the market.
“Shoppers who are priced out of the new car market will likely be very pleasantly surprised by how far their dollars can go if they buy used,” said Ivan Drury, Edmunds’ senior manager of insights. “Buyers can now find a huge selection of nearly new vehicles that are in excellent condition and packed with options at a very attractive price.”
“The price gap between new and used car prices is likely only going to continue to widen.”
Looking ahead, Edmunds experts note that trend of nearly new vehicles flooding the used market doesn’t have an end in sight, given that 2019 is shaping out to be another high-volume year for retail lease sales.
“As the used market grows increasingly saturated with off-lease vehicles, the price gap between new and used car prices is likely only going to continue to widen,” said Drury.
To read the full report, click here.
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Originally posted on F&I and Showroom
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