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Used cars are finally getting cheaper. Tesla's Model 3 and these 9 models are seeing the biggest price drops.

By Tim Levin
2020_Toyota_RAV4_XSE_HV_SilverSkyMetallic_01 1500x1001
The popular Toyota RAV4 is among used cars whose prices are dropping fast. Toyota
  • Used vehicle prices are finally coming back to Earth, which is great news for car shoppers. 
  • In December, prices were 3% lower than in the same month of 2021. 
  • Some models, like the Toyota RAV4 and Tesla Model 3, are getting cheaper more quickly than others. 

Ridiculously expensive used cars became the new normal when the pandemic mangled supply chains. Now we're heading back toward the old normal.

Used car lot
A used car lot is shown Friday, June 10, 2022, in Salt Lake City. Rick Bowmer/AP Photo

Prices for secondhand cars are finally dropping, coming down 3% year-over-year in December, according to the car search engine iSeeCars.com.

Used car lot with muscle cars
View of a used car dealership in Ridgewood, Queens New York on January 19, 2022. Pablo Monsalve/VIEWpress/Getty Images

Although prices declined throughout 2022, used vehicles only started getting cheaper on a year-over-year basis in November, according to iSeeCars.com's analysis.

A Toyota dealership in Florida.
A Toyota dealership in Florida. Joe Raedle/Getty Images

Read more: Car prices could drop 20% next year. Here's where to expect the best deals first.

Still, some models are getting cheaper faster than others.

Jeep dealership in New York City
Jeep Wranglers are displayed at a Manhattan Fiat Chrysler dealership on July 23, 2018 in New York City. Spencer Platt/Getty Images

These 10 used models saw the biggest price drops in the last four months of 2022, according to a recent study by iSeeCars.com.

Ram trucks at a car dealership.
Ram trucks at a car dealership. AP Photo/David Zalubowski

The firm analyzed sales of 1-5-year-old cars, excluding any models that were discontinued as of 2022 or were on sale for 3 or fewer model years in the period studied. 

Read more: Car buying is never going back to normal

10. Audi SQ5

Audi SQ5 3
The Audi SQ5. Hollis Johnson
  • Average used price (December 2022): $44,447
  • Price change from September-December: -$3,228
  • Percent drop from September-December: -6.8%

9. Toyota Camry

2020 Toyota Camry
2020 Toyota Camry TRD. Toyota
  • Average used price (December 2022): $25,521
  • Price change from September-December: -$1,912
  • Percent drop from September-December: -7.0%

8. Ford Ecosport

2018 Ford EcoSport
The 2018 Ford EcoSport. Ford
  • Average used price (December 2022): $20,064
  • Price change from September-December: -$1,515
  • Percent drop from September-December: -7.0%

7. GMC Acadia

2020 GMC Acadia AT4
2020 GMC Acadia AT4. GMC
  • Average used price (December 2022): $30,922
  • Price change from September-December: -$2,590
  • Percent drop from September-December: -7.7%

Read more: See the 8 coolest electric cars hitting streets next year, from Chevy's $105,000 truck to Hyundai's spaceship-like sedan

6. Jaguar E-Pace

jaguar e pace
Jaguar E-Pace. Jaguar
  • Average used price (December 2022): $35,221
  • Price change from September-December: -$3,052
  • Percent drop from September-December: -8.0%

5. Toyota RAV4

2019 Toyota RAV4
2019 Toyota RAV4. Toyota
  • Average used price (December 2022): $28,383
  • Price change from September-December: -$2,766
  • Percent drop from September-December: -8.9%

4. Hyundai Ioniq Hybrid

Large 42331 2021IONIQHybrid
2021 Hyundai Ioniq Hybrid. Hyundai
  • Average used price (December 2022): $20,542
  • Price change from September-December: -$2,527
  • Percent drop from September-December: -11.0%

Read more: I drove electric SUVs from Kia, Hyundai, and Tesla — and I see why the Korean brands are gaining on Elon Musk

3. Ford Mustang

Ford Mustang
Ford Mustang. Ford
  • Average used price (December 2022): $26,852
  • Price change from September-December: -$3,495
  • Percent drop from September-December: -11.5%

2. Nissan Kicks

Nissan Kicks
Nissan
  • Average used price (December 2022): $20,046
  • Price change from September-December: -$2,718
  • Percent drop from September-December: -11.9%

1. Tesla Model 3

Tesla Model 3
Tesla Model 3. Tesla
  • Average used price (December 2022): $43,817
  • Price change from September-December: -$8,822
  • Percent drop from September-December: -16.8%

Read more: Used Tesla prices are plummeting four times faster than other cars

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