Used car prices fall in June

Used vehicle prices in several popular models took a tumble in June.

According to CARFAX’s Used Car Index for July, vans and minivans fell $375 and pickup trucks $320. SUVs were down $200.

“In June, the prices for vehicles best suited for families – SUVs, Vans & Minivans and, yes, even Pickup Trucks – saw the biggest decline in month-over-month prices,” said the CARFAX report.

Several other categories held steady. CARFAX noted more changes could be coming to the used vehicle market due to a lack of lease turn-ins and the increasing inventory on new car lots.

The average used car price at the end of June was $18,423. The price for SUVs were down to $23,229. Pickup trucks registered at $33,693.

Hybrid and EV prices fell about $40 to $29,802.

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