As Ford Authority reported back in March, used Lincoln prices were previously falling faster than most other brands – posting the fourth biggest drop of any automotive brand between February 2023 and 2024, in fact, as the average used model was listed for $45,427, which was $4,084 or 8.2 percent lower than a year prior, compared to the average model priced at $31,153, which represented a 3.6 percent or $1,161 decline. Now that the 2024 calendar year is nearly over, an updated version of this same study has arrived, and it reveals that used Lincoln prices are still outpacing many other brands.
According to iSeeCars, Lincoln once again ranked fourth on the list of automotive brands with the largest year-over-year drops in terms of one-to-five-year-old models in November 2024. The average used Lincoln was listed at $41,361, which is a 7.4 percent or $3,307 difference, year-over-year, when compared to November 2023. That ranked Lincoln behind only Tesla (21.2 percent drop), Maserati (12.3 percent), and Alfa Romeo (9.3 percent), while the average used vehicle declined by just 1.4 percent over that time period. To come up with this data, iSeeCars looked at 1.3 million used cars sold in November 2023 and 2024.
“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.”
Unfortunately for Lincoln, this is nothing new, as Ford’s luxury arm has long experienced sharp depreciation when compared to its peers. On the bright side, this fact makes used models solid targets for those in the market, as slower-selling vehicles like the Lincoln Corsair and last-generation Lincoln Nautilus have a lot of value to offer.
Comments
The old people that buy Lincolns must not want used ones.
Actually us old people , as you say , can afforn new ones , now , go to work !
I own a 1967 mustang gt fastback, a 1997 Thunderbird and a 1997 Lincoln mark viii. That said, the Lincoln line as of late is unattractive and as for the nautilus, everyone knows it is an over prices escape. The line lost its distinction years ago. It’s no wonder they lag in the used narket.
Under the Brilliant Dianne Craig (who should be replaced right now), this trend will continue and only get worse as sales decline.