7 used SUVs’ prices soaring, in a plunging market
You just might be sitting on a goldmine of a used SUV and not even know it. According to a recent iSeeCars study, used Infiniti QX60, Land Rover Discovery, and Toyota 4Runner SUVs are listed for between 12% and 17% more than this time last year. Prices of used SUVs by Chevy, Lincoln, BMW, and Lexus are also up.
You may be thinking, Don’t used cars get a bit more expensive every year? The truth is that the average used vehicle is listing for 0.8% less than this time last year, and EVs such as the Porsche Taycan have plummeted 26.5%. So these seven SUVs are trouncing the market.
The 7 SUVs bucking the trend
Here’s how much these used SUVs have jumped in price over the past year:
| Model | Avg Price February 2025 | $ Difference Year-over-Year | % Difference Year-over-Year |
|---|---|---|---|
| INFINITI QX60 | $36,551 | $5,327 | 17.1% |
| Land Rover Discovery | $46,474 | $5,556 | 13.6% |
| Toyota 4Runner | $42,948 | $4,855 | 12.7% |
| Chevrolet Trax | $18,971 | $1,689 | 9.8% |
| Lincoln Navigator | $65,976 | $5,640 | 9.3% |
| BMW X1 | $31,725 | $2,585 | 8.9% |
| Lexus RX 350 | $44,353 | $3,247 | 7.9% |
For comparison, the average used car has dropped 0.8% in the past 12 months. That’s an overall decline of $305. And some of the worst-performing used vehicles, including EVs and certain luxury models, are down over 25%.
The bigger picture: used car and SUV prices are falling
For years, used car and SUV prices were out of control, climbing well above MSRP for some models. But the market is shifting. As iSeeCars Executive Analyst Karl Brauer explained, “The used car market continues to stabilize after several years of abnormal pricing trends.” The fact that most vehicles are getting cheaper suggests that demand is softening, supply is increasing, or higher interest rates are driving buyers away so dealerships are countering with lower advertised prices.
Brauer added, “The average used car price decline reflects an overall market correction, though some vehicles continue to see value appreciation.”
What’s driving these SUVs’ higher used prices?
The surge in used prices for these seven SUVs doesn’t necessarily mean they’re appreciating in the traditional sense. In some cases, it’s a matter of supply and demand. Automakers have cut production of certain trims and configurations, leaving buyers with fewer options and pushing them toward the used market. High interest rates have also forced shoppers to adjust their budgets, often making slightly older models more appealing.
Some SUVs simply refuse to depreciate at the same rate as others. Models with strong reputations for reliability, off-road performance, or luxury cachet tend to hold their value longer. The Toyota 4Runner, for example, has a cult following and a reputation for durability, which keeps demand high. The Lincoln Navigator and Lexus RX 350, meanwhile, carry the kind of brand prestige that convinces buyers they’re getting something special—even when it’s a few years old.
It’s also possible that dealerships are listing these SUVs for more money based on perceived value rather than actual sales data. Just because the asking prices have jumped doesn’t mean buyers are handing over cash at those inflated rates. But at least some of these increases are real appreciation. Whether it’s due to supply chain shifts, brand perception, or sheer desirability, these seven SUVs are standing out in a used market that’s otherwise trending downward. And if you already own one of these lucky seven, you may be sitting on a solid investment.
