Caution to Buyers: These Used Cars Are Losing Value More Rapidly Than You Realize | Carscoops

      Some used cars are experiencing depreciation much more rapidly than expected, resulting in greater losses for buyers than they had predicted.

      April 26, 2025, at 12:40

      by Brad Anderson

      The Tesla Model S tops the list for used car depreciation, facing a 17.2 percent annual drop in value.

      Other models, including the Ford Explorer, BMW 5-Series, and Maserati Levante, have also seen significant declines.

      Owners of the Porsche Taycan experienced an average loss of $13,422 in the past year.

      It's widely known that car values have been fluctuating recently, but some models have particularly plummeted. In just the past year, a surprising number of popular vehicles have lost thousands in value, reflecting notable shifts in the market.

      Read: This Car Loses 73% Of Its Value After Just Five Years

      Among the 20 used cars that depreciated the most in the United States over the past year, four Tesla models made the cut. However, Tesla isn't the only brand affected, as many mainstream and luxury brands, such as Ford, BMW, Mercedes, Hyundai, Lincoln, and Genesis, have also experienced significant price drops.

      The iSeeCars team recently assessed the values of 1.4 million used vehicles over the past year to identify those that faced the steepest declines. At the top of the list is the Tesla Model S, which depreciated by an average of 17.2 percent year-over-year, equating to a decrease of $9,944. As of March 2025, the average listing price for a Model S was $47,931. This decline is not surprising, considering the electric sedan has been on the market for 13 years, and Tesla has dealt with various public relations challenges recently.

      Examining the Most Depreciated Vehicles

      Following closely behind the Model S is the Porsche Taycan, which fell in value by an average of $13,422 over the past year, representing a 15.1 percent drop. Meanwhile, the average price of the Ford Explorer Hybrid decreased by 14.1 percent to $31,228, while the BMW 5-Series Hybrid experienced a 13.9 percent drop, bringing its value down to $34,375.

      The Model Y is the second Tesla on the list, with prices declining by an average of 13.1 percent, now averaging $30,611. This puts it ahead of the Model 3, which is in eighth place with a 10.9 percent drop, resulting in an average price of $26,084. The Model X is in 17th place, with its average price falling by 7.3 percent to $55,990.

      Used Cars With Significant Price Reductions

      Noteworthy mentions include the Maserati Levante, down 11.5 percent, the Jeep Gladiator (-10.7 percent), the Kia Niro EV (-9.6 percent), the Volvo S90 (-9.2 percent), and the Chevrolet Corvette Convertible, which saw a 7.3 percent price decline.

      Brands with the Most Dramatic Declines

      Tesla was identified as the brand with the steepest annual declines in used car pricing. On average, its models lost 10.1 percent in value over the past year, reflecting a loss of $3,541 per vehicle. Chrysler followed closely with an 8.9 percent decrease, while Maserati, Genesis, Dodge, Buick, and Chevrolet also recorded significant losses.

      "In both the new and used car markets, Tesla prices have been decreasing for over two years," stated iSeeCars executive analyst Karl Brauer. "Price reductions on new Teslas quickly influenced the prices of used Teslas, driving them down at a fast pace. The new car price cuts were prompted by Tesla’s aim to sustain sales growth, but this strategy began to falter last year when the automaker experienced its first annual sales decline."