The price of a used vehicle has barely changed since the end of 2018 — but the changes may be worth noting.
Data from the Dealertrack online credit application network reveals that pricing for most of its Top Funded Used Vehicles recorded little to no change in January 2019, although four of the vehicles on the list recorded month-over-month Average Cash Price declines. Three vehicles on the list experienced year-over-year declines.
The trend shows a mostly flat average pricing for all ten vehicles on the list, with pricing increasing by a mere $15 in January 2019 from $20,088 in December 2018. When considering the overall cost on an annual basis, the Average Cash Price for all ten vehicles revealed a 1.8 per cent increase.
“Compared to the previous month, in January, the Dealertrack Canada Top 10 Funded Used Vehicle that saw the largest Average Cash Price increase was the tenth place Dodge Journey,” said Cox Automotive in a news release. “The compact SUV’s price rose 2.9 per cent to $18,889.”
The Hyundai Elantra compact car experienced the most significant month over month price decline with an Average Cash Price of $14,557 — down 1.9 per cent to start 2019.
The Average Cash Price for the Toyota Corolla compact car increased to $14,833 in January, representing a healthy 6.7 per cent gain YOY. In contrast, the Dodge Journey experienced the most significant YOY price decline of 2.8 per cent.
The 2015 Honda Civic recorded a YOY price change of 4.8 per cent.
