This BMW X3 is displayed during the Vienna Autoshow, as part of Vienna Holiday Fair on January 10, 2018 in Vienna, Austria. (Photo by Manfred Schmid/Getty Images)
Manfred Schmid/Getty Images
Used car prices in Seattle came down slightly in August from July, but they are still significantly higher than they were a year ago according iSeeCars.com's latest analysis of over 1.9 million used car sales in August.
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As the nationwide microchip shortage continues to impact the new and used car marketplace, iSeeCars found that used car prices increased 21.6% or $5,565 in Seattle over last year. Nationally, used car prices have increased 26.2%, or $6,454 compared to last year.
“Used car prices have been coming down slightly since they peaked in June, but they are still significantly higher than they were last year, with the average used vehicle priced over $6,000 above where it was last August,” said iSeeCars Executive Analyst Karl Brauer. “As the microchip shortage-related plant shutdowns continue, and with the aftermath of Hurricane Ida expected to further elevate prices, there appears to be no relief in sight for used car shoppers.”
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Some used vehicles have increased more than average which makes them the worst vehicles to buy. However, these used vehicles present lucrative trade-in opportunities. Other cars have lower-than-average increases, making them smarter buys for consumers in today’s tough market.
Nationally, the model that saw the highest price differential was the Mitsubishi Mirage, up 49.9% from August 2020. The vehicle with the second-largest price increase was the Nissan LEAF, which has risen in price by 44.7% since August 2020. The Chevrolet Camaro once again made the national list, as it has for the past several months, but also dropped down to the ninth highest price increase from its usual top one or two spot. Other models unfamiliar to the list include the Mercedes-Benz G-Class and the Lincoln Navigator.
Keep reading to see which used cars saw the most significant year-over-year price increases in August in Seattle.
2020 Land Rover Range Rover is on display at the 112th Annual Chicago Auto Show at McCormick Place in Chicago, Illinois on February 6, 2020. (Photo By Raymond Boyd/Getty Images)
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5. Land Rover Range Rover
% price increase from August 2020: 33.8%
$ price change from August 2020: $19,793
2019 Chevrolet Traverse High Country
Chevrolet4. Chevrolet Traverse
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% price increase from August 2020: 34.8%
$ price change from August 2020: $9,241
The 2019 Kia Forte is unveiled during a press conference at the 2018 North American International Auto Show Press Preview in Detroit, Michigan on January 15, 2018. (Photo by Geoff Robins / AFP) (Photo by GEOFF ROBINS/AFP via Getty Images)
GEOFF ROBINS/AFP via Getty Images3. Kia Forte
% price increase from August 2020: 35.0%
$ price change from August 2020: $4,310
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A view of BMW X3 sDrive20i car variant in Serpong, Tangerang, Banten, on March, 20, 2019. (Photo by Dasril Roszandi/NurPhoto via Getty Images)
NurPhoto/NurPhoto via Getty Images2. BMW X3
% price increase from August 2020: 40.8%
$ price change from August 2020: $11,349
Nissan Leaf compact five-door hatchback battery electric vehicle on display at Brussels Expo on January 9, 2020 in Brussels, Belgium. (Photo by Sjoerd van der Wal/Getty Images)
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1. Nissan LEAF
% price increase from August 2020: 43.1%
$ price change from August 2020: $6,494