Cars.com: Used Units See Double-Digit Price Slides

With used-car prices expected to fall again this month and May marking the first time pre-owned rates had slid since the beginning of 2012, used vehicles may be looking more attractive to consumers as the summer months roll by.
And though many popular used units are still going for more than they have in past years, Cars.com noted some models are seeing double-digit price drops this month.
An entry on the site’s "Kicking Tires" blog written by Mike Hanley revealed a list of the Top 10 Biggest Price Drops for used vehicles this month, which includes a collection of import and domestic units ranging from the Pontiac G8 to the GMC Sierra 2500.
But sitting atop the list is the Jeep Liberty and Chrysler 300, models which dropped in price by 15 percent and 11 percent, respectively, this past month, Hanley reports.
Specifically, the average asking price on June 1 for a Jeep Liberty from the 2009 to 2011 model years fell by $3,435 to $19,534. And the Chrysler 300’s asking price sank by $2,501 to $20,373.
Also of interest, the blog entry explained that these significant drops did buck the trend a bit for used units from the 2009 to 2011 years this past month.
The average price on Cars.com for all used cars from these model years rose in May about 0.1 percent, or $27, to $22,381.
And even though these units are becoming more affordable, the site noted the prices for the units that saw the biggest drops this past month are still much higher than last year.
“On June 1, 2011, the Liberty’s average price was $19,282, while the 300 averaged $19,607 when looking at a comparable set of used models (2008 to 2010 model years),” Hanley wrote.
On the other hand, Cars.com also revealed the units that saw the biggest price increases. Four units all saw a 5 percent increase in average price this month — the Chevrolet Colorado ($20,076), Chevrolet Express 3500 ($23,249), Infiniti FX35 ($35,813) and the Saturn Vue ($17,921).
The complete blog entry can be read at http://blogs.cars.com/kickingtires/2012/06/jeep-liberty-chrysler-300-used-prices-drop-more-than-10-on-carscom.html.
Cars.com offered the following charts, as well: