Here’s a selling point that might help dealers who have potential customers on the fence about buying a used car:

Prices are as low now as they might be all year.

That’s according to the latest Carfax Used Car Index, which shows a near-universal month-over-month decline in used-car prices this month across the country, with some “falling fast and far.”

Granted, Carfax says, much of the price decline may be seasonally driven, as prices were also down this time last year.

“But we’ve also seen over the past few years that this tends to be the annual low point before used-car prices start climbing again,” Carfax editor-in-chief Patrick Olsen said in analysis around the index.

“Those increases are driven by increased demand, which is in turn fueled by income tax refunds,” he said. “Many consumers use those as down payments on their next vehicle.”

The Internal Revenue Service previously said it would begin to accept filings on Monday. The IRS expects to receive about 164 million individual income tax returns this year, with most taxpayers filing electronically.

Olsen later added, that “history tells us that this may be among the cheapest prices available in 2026. If you’ve been on the fence about buying, now might just be the perfect time to jump in.”

And depending on the segment, used-car customers could be saving a pretty penny by buying now.

For example, used luxury SUV prices this month are down more than $1,040 from December, while used SUVs, pickups and hybrids/EVs are each down by nearly $600, according to Carfax.

After sustained growth in the second half of last year, luxury car prices are down more than $300 month-over-month in January. Meantime, there has been close to a $200 drop in the used prices of mainstream car segments like sedans, hatchbacks and wagons, Carfax said.

Prices on used vans/minivans were up more than $250 this month, the one segment to see an increase in price.

Oddly enough, vans/minivans were the one segment where prices fell from January 2025 (down 0.3%).

Used hybrid/EV prices climbed 2.3%, luxury cars increased 8.5% and luxury SUVs rose 1.7%, the Carfax data shows.  There was a 3.5% gain in pickup truck prices from January 2025, while car prices were up 1.3% and SUV prices rose 0.3%.