SANTA MOINICA, Calif.—Used-car prices continue to climb even as sales slow, with electric vehicles emerging as the standout performer in an otherwise cooling market, according to new analysis from Edmunds.
Ivan Drury, Edmunds’ director of insights, said the average transaction price (ATP) for three-year-old vehicles rose 5% year over year in the third quarter of 2025 to $31,067, even as vehicles lingered longer on dealer lots—averaging 41 days compared to 37 days a year earlier. That marks the slowest third-quarter pace since 2017.
For auto lenders, Drury noted, the data signal that affordability pressures remain front and center, with more shoppers weighing financing options and stretching terms to manage near-new used-car prices. Credit unions and other lenders could see sustained demand for used-vehicle loans, particularly as buyers look for value in older models.
EVs, however, are bucking the broader slowdown. They sold in an average of just 34 days—the fastest turnover of any powertrain—and eight of the 20 fastest-selling three-year-old models were electric.
“Even with limited 2022 EV supply, demand is clearly accelerating in the used market,” Drury said, pointing to buyers drawn to lower mileage and reduced ownership costs.
Edmunds found most used EVs fall in the $20,000–$30,000 price range, below gas-powered counterparts, and tend to show lighter use—nearly two-thirds have fewer than 40,000 miles. That combination of affordability and condition is strengthening their appeal among deal-focused shoppers.
At the extremes of the market, Drury said, demand remains strongest. Vehicles priced under $15,000 or near-new models below 10,000 miles are selling fastest, while mid-priced, mid-mileage vehicles—the bulk of dealer inventory—are taking the longest to move.
For credit unions and auto lenders, the trends point to a continued shift in buyer behavior: more selective