You might not have to wait for Tesla’s affordable electric vehicle if you want an EV on the cheap. A new iSeeCars study analyzed 1.4 million one- to five-year-old used cars sold in March 2024 and March 2025 and found that one brand dominated the list of used cars that have seen the biggest price drop: Tesla.
The Model S, Model 3, and Model Y all made the top 10, with the brand’s flagship luxury sedan taking the top spot. Used Model S prices fell 17.2 percent from March 2024 to March 2025, dropping nearly $10,000 in just a year. According to the study, the average price of a used Model S last month was $47,931.
| Rank | Model | Average Price March 2025 | $ Difference Year-Over-Year | % Difference Year-Over-Year |
| 1 | Tesla Model S | $47,931 | -$9,944 | -17.2% |
| 2 | Porsche Taycan | $75,407 | -$13,422 | -15.1% |
| 3 | Ford Explorer Hybrid | $31,288 | -$5,136 | -14.1% |
| 4 | BMW 5 Series Hybrid | $34,375 | -$5,557 | -13.9% |
| 5 | Tesla Model Y | $30,611 | -$4,634 | -13.1% |
| 6 | Maserati Levante | $45,413 | -$5,898 | -11.5% |
| 7 | Mercedes-Benz AMG GT | $78,676 | -$9,808 | -11.1% |
| 8 | Tesla Model 3 | $26,084 | -$3,193 | -10.9% |
| 9 | Jeep Gladiator | $34,136 | -$4,089 | -10.7% |
| 10 | Hyundai Kona Electric | $21,549 | -$2,462 | -10.6% |
The Model 3 is your best bang for your buck, though. Prices for the EV fell 10.9 percent, with the sedan on sale for just $26,084 on average last month. It’s cheaper than the Model Y, which saw prices fall by a greater percentage—13.1 percent; however, the crossover’s average price last month was higher, at $30,611.
“In both the new and used car markets, Tesla prices have been dropping for over two years,” said iSeeCars Executive Analyst Karl Braue in a statement. “Price cuts on new Teslas immediately impacted used Teslas, driving their prices down at a rapid rate. The new car price cuts were driven by Tesla’s desire to maintain sales growth, but that strategy stopped working last year when the automaker saw its first decline in annual sales.”
EVs made up half of the top 10 cars on the list, with the Porsche Taycan and Hyundai Kona Electric joining the three Teslas. The other vehicles were the Ford Explorer hybrid, BMW 5 Series hybrid, Maserati Levante, Mercedes-Benz AMG GT, and Jeep Gladiator.
| Rank | Make | Average Price March 2025 | $ Difference Year-Over-Year | % Difference Year-Over-Year |
| 1 | Tesla | $31,421 | -$3,541 | -10.1% |
| 2 | Chrysler | $24,712 | -$2,411 | -8.9% |
| 3 | Maserati | $43,909 | -$4,106 | -8.6% |
| 4 | Genesis | $33,394 | -$2,339 | -6.5% |
| 5 | Dodge | $33,072 | -$1,638 | -4.7% |
| 6 | Buick | $26,023 | -$1,262 | -4.6% |
| 7 | Chevrolet | $30,989 | -$1,263 | -3.9% |
| 8 | Nissan | $22,695 | -$355 | -1.5% |
| 9 | Audi | $35,734 | -$404 | -1.1% |
| 10 | Volvo | $33,940 | -$325 | -0.9% |
Prices for used EVs have drastically fallen in recent months. Earlier this year, used EVs became cheaper than used gas cars. Used car prices were up 1.0 percent year-over-year in the study.
iSeeCars also compiled the brands with the largest used car price drops, and Tesla tops the list. Prices fell 10.1 percent year-over-year, or $3,541. Chrysler was second, with prices falling 8.9 percent. Maserati, another Stellantis brand that’s facing some struggles, saw used car prices fall 8.6 percent over the last 12 months.