Used Ford Prices Up Slightly Over The Past Year

In recent years, the prices of most used vehicles have skyrocketed to record levels, a trend that stems from high demand and short supply caused by production issues during the pandemic. Now that production has fully ramped back up and new vehicle inventory has surged, used prices have come down in certain cases, but that isn’t a universal trend by any means. In fact, used Ford prices, for example, have actually risen over the past year while some other brands have experienced sharp declines.

According to new data from iSeeCars, one-to-five-year-old used Ford prices increased by $111 or 0.3 percent, on average, to $32,481 in November 2024 versus November 2023. That’s certainly a small figure, but by comparison, the overall automotive market experienced a year-over-year decline of $431 or 1.4 percent, closing out last month at $29,934, and Lincoln was among the fastest-dropping brands at 7.4 percent or $3,307, with an average price tag of $41,361. To come up with this data, iSeeCars looked at 1.3 million used cars sold in November 2023 and 2024.

Of course, these results can and will vary greatly by model. Vehicles like the Ford Mustang Mach-E and Ford Explorer are great values on the used market these days, while others – such as the Ford Maverick and Ford F-150 – tend to hold their value much better.

“Buyers waiting for used car prices to come down can probably stop waiting,” said iSeeCars Executive Analyst Karl Brauer. “Prices have barely moved over the past year and it appears $30,000 is the new $20,000 for used car shoppers. That number likely prices a lot of consumers out of the one- to five-year-old used car market, forcing them to consider older, higher-mileage models. Most brands’ pricing has lost value over the past year, but Acura, Chevrolet, Toyota, and Genesis are up more than two percent. It’s likely these automakers had fewer models transitioning from the new to the used car market in November, restricting supply and driving up prices.”