Top 10 Used Car Deals in February 2024

As we rev up into February, it’s the perfect time for car enthusiasts and frugal shoppers alike to search the market for the top deals on used cars. Bumper.com has rolled out the red carpet to showcase the best used cars so you can find the vehicle of your dreams without having to spend a fortune. Buckle up as we look into the top trends that have emerged from the digital dealership’s lot this month.

Key trends in the used car market

1. Electrifying price drops for electric models

The Nissan Leaf and Tesla Model S, occupying the top two spots in our list, have seen shocking average price drops of -26.66% and -34.02%, respectively, year-over-year. Clearly, these battery-powered beauties are sparking a lot of interest, with the Leaf’s current average price sitting at an approachable $14,859.38 and the premium Model S at $37,042.27. With more and more drivers looking to go green, these electrifying deals are proving irresistible.

2. Saturn Ion still shining for budget buyers

Who said oldies can’t be goodies? The Saturn Ion may not be fresh off the assembly line, but with an average price today of $4,479.94 and a modest year-over-year price dip of -1.73%, it’s proving that age can come with the advantage of affordability. Considering its average mileage of 130,783.11 miles, it’s no surprise the Ion is a great choice for those on a budget.

3. Price drops make premium brands more palatable

If the allure of luxury is more your speed, take note. Premium vehicles like the BMW 740Li and Maserati Quattroporte are strutting onto the scene with average price reductions of -20.74% and -37.44% year-over-year, respectively. With the 740Li at $37,259.82 and the Quattroporte at $33,943.42, living the luxe life became more accessible. 

4. BMW i3 is navigating the middle lane in price and popularity

The BMW i3 cruises in the middle lane with a moderate year-over-year price drop of -18.37%. Priced today at $18,084.73, it strikes a balance between the affordability of the Nissan Leaf and the luxury of its Tesla counterparts. It’s a hybrid of value and performance, offering an average of 80.54 days on the market.

5. Mileage matters in resale value, but age takes the trophy

As we put the pedal to the metal and look at resale values, we observe a curious trend where the Tesla Model 3, despite an average mileage of 34,242.27 and being only 4 years on average, retains a high percentage of its original listing price at 90.8%. On the other hand, the venerable Chrysler Sebring, averaging a grandpa-age of 17.45 years with 113,024.49 miles on the odometer, manages to keep 92.5% of its original price tag. Age before beauty? In the used car market, perhaps it’s the wisdom of the years that keeps the value strong.

As we explore the top car trends and deals this month, it’s clear that there are options for every buyer. The used car market has something to offer everyone, from electrifying price drops for electric models to budget-friendly Saturns, luxury bargains, and balanced choices like the BMW i3. Don’t miss out on these opportunities to snag a great deal on a used vehicle.

Top 10 used car deals 

1. Nissan Leaf

The Nissan Leaf leads our top 10 with a significant year-on-year price drop, signaling a potential buyer’s market for this electric vehicle.

•     Average Price Today: $14,859.38
•     Average Price Change YoY: -26.66%
•     Number of Vehicles on the Market: 1,021
•     Average Odometer Reading: 33,718.42

2. Tesla Model S

Known for its luxury and performance, the Model S shows a steep price decline over the year, possibly due to newer models entering the market.

•      Average Price Today: $37,042.27
•      Average Price Change YoY: -34.02%
•      Number of Vehicles on the Market: 1,561
•      Average Odometer Reading: 49,577.82

3. Saturn Ion

An older model that still holds its ground in the market, showing a slight increase in value over 30 days amidst a general downward trend.

•     Average Price Today: $4,479.94
•     Average Price Change YoY: -1.73%
•     Number of Vehicles on the Market: 141
•     Average Odometer Reading: 130,783.11

4. BMW i3

A luxury compact EV with a moderate year-on-year price decline, suggesting depreciation might be stabilizing for this model.

•      Average Price Today: $18,084.73
•      Average Price Change YoY: -18.37%
•      Number of Vehicles on the Market: 393
•      Average Odometer Reading: 41,575.35

5. Tesla Model 3

It continues to be a popular choice among electric vehicles, showing less depreciation over a year compared to the Model S.

•      Average Price Today: $32,593.72
•      Average Price Change YoY: -17.68%
•      Number of Vehicles on the Market: 6,767
•      Average Odometer Reading: 34,242.27

6. BMW 740Li

This one represents the higher end of luxury sedans with a relatively steep yearly price decline but a slight rise over the last 90 days, hinting at recovering value.

•     Average Price Today: $37,259.82
•     Average Price Change YoY: -20.74%
•     Number of Vehicles on the Market: 133
•     Average Odometer Reading: 54,731.41

7. Maserati Quattroporte

   This high-end sedan shows a significant annual price drop, which may attract buyers looking for luxury at a more affordable price point.

•    Average Price Today: $33,943.42
•    Average Price Change YoY: -37.44%
•      Number of Vehicles on the Market: 144
•      Average Odometer Reading: 37,897.86

8. Toyota Mirai

A hydrogen fuel cell vehicle showing an interesting trend with a significant 5.02% upward recent price increas in the last 30 days, countering its annual downward price trajectory.

•      Average Price Today: $15,177.77
•      Average Price Change YoY: -64.25%
•      Number of Vehicles on the Market: 176
•      Average Odometer Reading: 31,393.23

9. Maserati Granturismo

This one offers the allure of a sports car with luxury, while experiencing less drastic price changes, possibly indicating a more stable market for luxury vehicles.

• Average Price Today: $42,439.66
• Average Price Change YoY: -22.86%
• Number of Vehicles on the Market: 153
• Average Odometer Reading: 29,698.71

10. Chrysler Sebring

Despite being the oldest model in the top 10, Chrysler Sebring shows resilience in the market with a modest yearly price change.

• Average Price Today: $5,635.12
• Average Price Change YoY: -2.97%
• Number of Vehicles on the Market: 316
• Average Odometer Reading: 113,024.49

AI Disclaimer: The images presented here were created using artificial intelligence (AI) technology. While we strive for accuracy, they are artistic representations and may not depict exact or true-to-life details. We do not guarantee the accuracy, relevance, or completeness of any information in these images. For accurate and detailed representations, we recommend consulting the vehicle manufacturer directly.