I’m a veteran Chicago-based consumer automotive journalist devoted to providing news, views, timely tips and reviews to help maximize your automotive investments. In addition to posting on Forbes.com, I'm a regular contributor to Carfax.com, Motor1.com, MyEV.
The good news for used-vehicle shoppers is that prices of pre-owned models are finally falling back down to earth after a protracted pandemic-fueled period of preposterousness. According to Cox Automotive, wholesale used-car prices have dropped by a substantial 13.1% over the past year. Electric vehicles seem to be the biggest losers here, with resale values falling by 20% or more in the past 12 months.
In addition, resale values directly affect how much one will pay to lease a particular model, as costs are largely based on the difference between a model’s transaction price and what it’s expected to be worth at the end of the term., the average new vehicle can be expected to hold onto about 42.4% of its original value after a typical five-year/75,000-mile ownership period.
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