Used Lincoln Prices Dropped Faster Than Most Brands: Study

March 11, 2024 11:46 am

It wasn’t that long ago that we were helplessly watching as both used and new vehicle prices soared to new record heights on a nearly monthly basis, but things have changed dramatically as of late. In fact, used Lincoln Navigator prices, specifically, skyrocketed following the onset of the pandemic and a resulting inventory shortage, but as Ford Authority recently reported, used vehicle prices in general have begun falling back to normal levels over the past few months. Now, new data from iSeeCars confirms that used Lincoln prices – specifically – are actually dropping faster than most other brands.

iSeeCars analyzed over 1.8 million one-to-five-year-old used vehicles sold in February 2023 and 2024, comparing the average prices of those models by segment, brand, and model. That data revealed that used vehicle prices have softened considerably as of late, with the average model priced at $31,153, which represents a 3.6 percent or $1,161 decline versus last year. Lincoln experienced the fourth biggest drop of any automotive brand over that time period – the average used model was listed for $45,427, which is $4,084 or 8.2 percent lower than one year ago. Tesla topped this particular list, however, losing a whopping $14,808 or 28.9 percent in list prices year-over-year.

“Used car shoppers are seeing a bit of a break in vehicle costs, but we’re still well above the pre-pandemic average used car price point of roughly $20,000, with no indication we’re going back to those levels any time soon,” said Karl Brauer, iSeeCars Executive Analyst. “A dramatic drop in used electric vehicle values, largely driven by Elon Musk’s aggressive price cuts on new Teslas, reflects how much influence Tesla continues to have on the EV market.”

It is worth noting that not all Lincoln models are facing this sort of massive decline in value, however. As Ford Authority recently reported, the Lincoln Navigator recently earned a 2024 Best CPO (Certified Pre-Owned) Value in America Award from Vincentric in the Large Luxury SUV segment, iSeeCars ranked the Lincoln MKZ among the best five-year-old used passenger cars for the money, and Lincoln also secured a CPO award as a brand from IntelliChoice back in January, too.

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By Brett Foote

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.