Car shoppers looking for a family vehicle may find some relief this Fall as prices for certain used models have started to decline, according to the latest CARFAX Used Car Index. The report shows that in September, the average prices for used luxury SUVs and minivans saw noticeable drops, offering a bright spot for consumers in a market that has been expensive for most of 2025.
According to data from listings on CARFAX.com, the average price for used luxury SUVs fell by over $325 in September. Meanwhile, the average price for used vans and minivans decreased by more than $270. This trend comes as consumers show increasing hesitation about making large purchases due to higher interest rates and broader economic uncertainty.
Other Segments Still Increase in Price
However, not all vehicle segments are becoming more affordable. The average price for used luxury cars continued its upward trend, climbing for the sixth consecutive month and is nearing the $32,000 mark. Prices for these vehicles are up 5.8 percent compared to the same time last year and prices don’t appear to be breaking any time soon.
Other categories remained relatively stable. The average price for used pickup trucks saw a slight dip of nearly $150, continuing a modest downward trend. Prices for used hybrids and electric vehicles (EVs) were also flat, falling by less than $50 on average, even as federal tax credits for these vehicles are set to expire. Mainstream SUVs and regular cars saw minor price increases of less than $100. Sedans and other regular cars are still the most affordable segment coming in at $18,619 on average. The only segment with an average list price below $20,000. Mainstream SUVs and Vans are the only other segments even under $30,000 at this point, sitting at $24,114 and $21,158 respectively.
Vehicles Trends Shift Around the U.S.
Regional trends revealed significant variations across the country. In the Southwest, the average price for used vans and minivans plummeted by a substantial $660, while the West saw a sharp drop of more than $700 for used luxury SUVs. Conversely, luxury cars experienced major price hikes in several regions, with average prices climbing by $700 in the South and nearly $800 in the West.
These regional disparities highlight the importance of where—and what—you buy. For example, in the Midwest, used luxury SUVs experienced a price drop of more than $260, making this region especially advantageous for families seeking an upscale but affordable hauler. In the Plains region, used cars and hybrids or EVs saw price increases exceeding $440 for each segment. Meanwhile, in the Mid-Atlantic used hybrids & EVs were down $150 on average, providing a different value to a different potential buyer.
Rising interest rates and persistent inflation are key forces influencing buyers’ caution. With the cost of financing a vehicle higher than in previous years, many shoppers are either holding off on purchases or seeking more budget-friendly options. This consumer wariness has contributed to the price declines in some segments, especially those considered non-essential or more expensive, like luxury SUVs and minivans. At the same time, prices for staple vehicles like mainstream SUVs and trucks have stayed relatively resilient because of their ongoing popularity and versatility.
Despite some price drops, the report notes that overall used car prices remain higher than they typically are, with sales still outpacing last year’s numbers. For current owners, this means trade-in values, particularly for popular SUVs and trucks, remain strong.
How Much Does Vehicle Damage Affect Value?
The CARFAX Used Car Index also examined the impact of vehicle damage on price. Cars with minor damage typically see value reductions of several hundred dollars, while those with major damage experience steeper penalties—sometimes up to ten times greater. Still, for shoppers open to vehicles with previously repaired cosmetic damage, these cars can provide meaningful savings without sacrificing reliability, especially when documented in a Vehicle History Report.
For buyers, the report advises flexibility and thorough research. Keeping an open mind about different models and manufacturers can provide more financial options. The company emphasizes the importance of reviewing a vehicle’s history, as models with properly repaired cosmetic damage can offer significant savings.
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