10 Used Car Models With Plunging Prices (Most Are Electric)

The price of most used cars continues a general, gentle slide. However, used electric vehicle prices are in freefall.

Prices for used cars overall were down 3.6% year-over-year in February, according to automotive website iSeeCars. The average used car now costs $31,153.

Meanwhile, used EVs have seen prices plunge 31.8% during that time.

For a handful of models, the price drop has been especially notable. Here are the models with the biggest price drops in the past year. All details about these vehicles refer to the 2024 version of the model.

10. Mercedes-Benz CLS (tie)

Average price of 1- to 5-year-old models as of February 2024: $48,362

Change in price since one year prior: Decrease of 14.6% ($8,238)

The Mercedes-Benz CLS is a four-door coupe that features 19-inch wheels and standard LED lighting. The car’s interior is made up of a combination of leather, wood and satin aluminum.

10. Jaguar E-Pace (tie)

Average price of 1- to 5-year-old models as of February 2024: $28,965

Change in price since one year prior: Decrease of 14.6% ($4,958)

The Jaguar E-Pace is a compact SUV. It features a fixed panoramic roof and a Meridian sound system.

8. Alfa Romeo Stelvio

Average price of 1- to 5-year-old models as of February 2024: $29,003

Change in price since one year prior: Decrease of 16% ($5,534)

The Alfa Romeo Stelvio is another compact SUV. It features a turbocharged four-cylinder engine, which the manufacturer characterizes as “the most powerful standard engine in its class.”

7. Tesla Model S

Average price of 1- to 5-year-old models as of February 2024: $58,875

Change in price since one year prior: Decrease of 20.5% ($15,144)

The Tesla Model S features a 17-inch touchscreen and hidden air vents. It also has yoke steering for an enhanced feel and unobstructed views.

6. Tesla Model 3

Average price of 1- to 5-year-old models as of February 2024: $30,466

Change in price since one year prior: Decrease of 24.1% ($9,681)

The Tesla Model 3 takes you up to 341 miles on a single charge. It also features customizable ambient lighting.

5. Tesla Model X

Average price of 1- to 5-year-old models as of February 2024: $60,943

Change in price since one year prior: Decrease of 24.6% ($19,919)

The Tesla Model X has standard all-wheel drive. It also features a 22-speaker, 960-watt audio system.

4. Hyundai Kona Electric

Average price of 1- to 5-year-old models as of February 2024: $23,474

Change in price since one year prior: Decrease of 24.7% ($7,710)

The most recent version of the Hyundai Kona Electric has undergone “a massive improvement in fit and finish,” according to the manufacturer. It charges from 10% to 80% in as little as 43 minutes.

3. Kia Niro EV

Average price of 1- to 5-year-old models as of February 2024: $24,802

Change in price since one year prior: Decrease of 27.1% ($9,236)

The Kia Niro EV has an all-electric driving range of 253 miles. It also comes standard with 20 driver-assistance features.

2. Nissan Leaf

Average price of 1- to 5-year-old models as of February 2024: $17,895

Change in price since one year prior: Decrease of 29.1% ($7,329)

The Nissan Leaf comes with NissanConnect, which lets you sync compatible devices. It also has advanced driver assistance and safety features.

1. Chevrolet Bolt EV

Average price of 1- to 5-year-old models as of February 2024: $17,981

Change in price since one year prior: Decrease of 30.4% ($7,847)

The manufacturer calls the Chevrolet Bolt EV “America’s most affordable EV.” It has an electric range of 259 miles and 57 cubic feet of cargo volume.