Between October 2022 and September 2023, 23 three-year-old models have become more affordable, meaning their prices dropped, the majority of them being combustion cars.
The weird and wonderful BMW i3 can now be had as a three-year-old used vehicle for less than $28,000 on average, according to iSeeCars’ latest car affordability study that takes into account the average household income and compares it to an idealized income for financing. Prices for the original BMW i3 have gone down the most in the last 12 months, reaching an average of $27,748 after an 18.1 percent drop.
“With the unprecedented rise in interest rates over the past year we didn’t expect vehicle affordability to improve for any segment,” said iSeeCars Executive Analyst Karl Brauer. “But used car prices have finally come off their highs and are starting to moderate after years of increasing. Electric vehicle prices have simply tumbled over the past year, improving affordability on both new and used models.
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