This post is contributed by Julie Blackley, Communications Manager for iSeeCars.com.
It takes 46.4 days for the average 1- to 3-year-old vehicle to sell, according to a recent study by automotive research firm and search engine iSeeCars.com. But there are certain late-model used vehicles that remain on dealer lots for an extended amount of time. While the typical car buyer is likely unaware of a vehicle’s average selling time, knowing this important information could help you save money when you purchase a used car.
How does understanding a vehicle’s selling time lead to potential savings?
Well, it’s because cars that take longer to sell can present shoppers with valuable negotiation opportunities. Sellers will likely want to get rid of these cars even if it means lowering the price. These slow-sellers indicate that the supply of these vehicles is higher than the demand. And that could be because the car is priced too high or because it isn’t as well-liked as its competition.
Which used cars are the slowest sellers?
iSeeCars analyzed over 4 million 1- to 3-year-old used cars sold between January and July 2018 to determine which vehicles remained on the market for the longest amount of time. The slowest-selling used cars for under $25,000 were examined in order to appeal to a broad consumer segment.
|Slowest-selling late-model used vehicles under $25,000|
|Rank||Model||Average # days on market|
|10||Dodge Grand Caravan||56.1|
|Average for all vehicles||46.4|
A pair of Buick sedans earned the top 2 spots. The midsize Buick Regal remained on the market for an average of 67.6 days, followed by the full-size Buick Lacrosse, which remained for 67.5 days.
The extended time these vehicles spent on used car lots can be attributed to the declining popularity of the sedan segment, as well as Buick’s brand. But those in the market for an affordable luxury sedan should consider these models, which each have 5-star safety ratings from the National Highway Traffic Safety Administration.
American vehicles dominate the majority of the list, accounting for 7 out of 10 vehicles. The list also contains 7 sedans, with the exceptions of the Fiat 500x subcompact SUV, the Fiat 500 subcompact car, and the Dodge Grand Caravan minivan.
When buying a used car, it’s important to understand the reasons why a vehicle might spend long periods of time on dealer lots and also understand why it’s a slow-seller. Although these slower-selling cars can provide leverage for a used car bargain, consumers should do their own research to understand why there isn’t a high demand for these cars. The iSeeCars VIN report includes over 200 data points to equip shoppers with the information necessary to make an informed car purchase.
For more details about the study and its findings, visit the iSeeCars website.
Julie is the Communications Manager for iSeeCars.com, an online car search engine powered by big data analytics that helps consumers find the best car deals by providing key insights and valuable resources, like the iSeeCars VIN report. When she isn’t writing about cars, she’s likely wrangling her 2 small children in or out of them. Despite her line of work, running will always be her preferred mode of transportation.