Last month we talked about the cars that lost the most value on the used market between August 2023 and August 2024. The economy is in a perilous place at the moment; inflation is rampant and wages haven’t kept up, but if you own any of the cars on the following list, at least your car has avoided depreciation for one year. Many of these vehicles have undergone recent model changes, or in some cases manufacturers have announced discontinuation of the models, which could explain the jump in average prices. The top spot, though, experienced an unfathomable average price increase of 21.4 percent, or $17,532 between August 2023 and August 2024.
The study performed by iSeeCars resulted in a few notable takeaways, including that on average, the prices of used EVs have fallen by a massive 25 percent since August 2023. The average price of used internal combustion vehicles fell by 4.4 percent, and average used hybrid prices fell by 6 percent in the same one-year time period. Potentially as a result of their extreme price drops, used electric vehicles are selling much faster than they did a year ago, falling in line with the average amount of time it takes to sell an ICE or hybrid vehicle: about 39 days. Check out the rest of the findings on iSeeCars here.
As always, when shopping for a used car, keep reliability issues in mind, and don’t forget about the current astronomical car insurance rates that could end up breaking your bank. Click through to see the 15 used cars that gained the most value over the past year.
15) Volvo V60 Cross Country
At the bottom of the list is the Volvo V60 Cross Country, which increased by 1.5 percent, or $565, since last August to $37,776. Volvo is discontinuing the traditional V60 wagon after this model year, but it will continue to offer the V60 Cross Country, so I don’t have any guesses as to why this price jump occurred. I’ve felt that modern Volvo cars have been undervalued on the used market, though, so I don’t think that this average price increase is unwarranted or excessive.
14) Lexus GX 460
The average price of a used Lexus GX 460 also increased by 1.5 percent since last August, but with a higher overall transaction price. Its average increased by $729, so the average price of used Lexus GX 460 is now up to $48,399. Given the introduction of the new 2024 Lexus GX 550, it seems like consumers aren’t ready to let go of their naturally aspirated V8s.
13) BMW 4 Series
The average price of a used BMW 4 Series increased by 1.7 percent, or $709, to $42,418. There are a lot of 4 Series models, including convertible, coupe and Gran Coupe body styles as well as the electric i4, and it’s not specified which models were included in this study. Gauging by the fact that the M5 makes an appearance on this list, the 4 Series’ ranking probably doesn’t include the M4.
12) BMW X1
The average price of a used BMW X1 increased by 2.4 percent, or $697, to $29,383. That’s about what a new X1 is worth in my opinion, but yuppies love overpaying for a fancy badge.
11) Genesis G80
The average price of a used Genesis G80 went up to $35,534, an increase of 2.5 percent or $872. This comes as a surprise to me given the G80’s relatively low sales numbers, but their resale values are holding relatively well.
10) Acura MDX
Tenth place is the Acura MDX. Its average used price increased by 2.6 percent, or $961, to $37,374. The MDX has always been a silent killer; it’s not the first vehicle that comes to mind when you think of a three-row SUV, but it always sells well and seems to be a favorite among buyers.
9) Porsche Panamera
The average price of a used Porsche Panamera went up to $81,754, an increase of 3.2 percent or $2,537. Who is spending that much money on a used car? The Panamera has a wide array of engine options and performance capabilities, so it surprises me to see such strong resale values.
8) BMW M5
The BMW M5’s average used price increased by 4.2 percent, or $3,220, to $80,410. This makes more sense to me given the M5’s reputation, and this doesn’t include prices of lesser 5-Series.
7) Nissan Pathfinder
The average price of a used Nissan Pathfinder increased by 4.9 percent or $1,343 since last August to $28,890. Why do people want a Pathfinder so badly?
6) Jeep Wrangler
The average price of a used Jeep Wrangler increased by 5.5 percent, or $1,921, to $36,885. Wranglers are one of very few vehicles that practically beat depreciation. And they do it exclusively based on vibes, because lord knows it’s not based on their reliability, fuel economy, comfort, or performance.
5) Mitsubishi Outlander PHEV
The average price of a used Mitsubishi Outlander PHEV increased by 6.4 percent, or $1,603, to $26,511. The Outlander PHEV has been a big hit, and given the current hybrid hype, it’s understandable that demand for these incredibly okay vehicles has gone up.
4) BMW 2 Series
DAMN DAMN DAMN! The average price of a used BMW 2-Series went up to $38,875, an increase of 6.6 percent or $2,416. I don’t want to own many cars in this world, but I desperately want a BMW 2 Series convertible. I’ve been waiting for them to become more affordable on the used market, and it looks like I will keep waiting.
3) Chevrolet Camaro
Bronze goes to the Chevrolet Camaro, the $34,994 average price of which increased by 8.4 percent, or $2,709. Chevrolet announced it will discontinue the legendary Camaro after this model year, which may have contributed to this jump in price.
2) Volvo S90
Second place is the Volvo S90, which increased by 16.3 percent, or $5,164, to $36,934. Again, I’ve felt that Volvo cars have been pretty undervalued on the used market up until now, so it doesn’t feel too egregious for the average price of a used S90 to jump up this much. It’s a great car, and that’s still a pretty reasonable price for what you get.
1) Porsche 718 Cayman
The biggest gainer is the Porsche 718 Cayman, with an average used price of $99,293 that increased by 21.4 percent or $17,532 since last August to $99,293. Porsches are notoriously strong on the used market, especially the company’s sports cars. The Cayman is a brilliant car, but it’s been around for a long time, and I have a difficult time understanding why the average price of a used Cayman jumped up over 21 percent. The rich get richer, I suppose.
A version of this article originally appeared on Jalopnik.
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