Used electric vehicle prices rose 9.8% over the past year, according to iSeeCars, ending a long stretch of declines. The average used EV cost $32,533 in September 2026, up $2,896 from $29,637 in September 2025. For the first time in the data, used EVs now cost more on average than used gasoline cars.
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A year earlier the gap ran the other way, with the average used EV selling for $2,227 less than the average gas model. It now sits $579 above. Autoblog read the move as a sign that buyers who were priced out of EVs are absorbing the heavily depreciated lease returns that have been reaching dealers, and that the cheap-used-EV window may be narrowing.
The September 2026 price figures
The numbers come from an iSeeCars study of more than 1.5 million used vehicles, as CBT News reported on October 29. Hybrids rose 4.9% to $34,476, while gasoline vehicles rose only 0.3% to $31,954. The EV increase therefore outran both comparison groups by a wide margin. Autoblog’s write-up rounds the jump to nearly 10% and frames it as a reversal.
Autoblog ties the shift to fuel costs, arguing that rising gasoline prices are changing buyer behavior, and says new EVs face long dealership dwell times while the used segment sets records. The article also says shoppers who were previously priced out of EVs are now buying heavily depreciated lease returns, and that those who wait may lose the chance at the lowest prices as values stabilize.
The reversal is real against iSeeCars’ own history. Its study of October 2023 prices found used EVs down 33.7% year over year, from an average of $52,821 to $34,994. By July 2025, in a later iSeeCars study, the annual decline had shrunk to 1.3%, a $408 drop and the smallest in over two years, with the average at $30,594. September 2026 is the first of those readings to point up.
Faster sales and what Karl Brauer expects
Days on market tell the same story. Used EVs sold in 41.9 days on average, down 10.1% from 46.6, while gas vehicles slowed to 54.8 days from 45.7, a 19.9% increase. Electric cars therefore sold nearly 13 days faster than gas cars, reversing the previous year. The fastest-selling vehicle of any type was the Lexus IS 500 at 24.3 days, and the slowest EV was the Cadillac Escalade IQ at 128.7 days.
Karl Brauer, iSeeCars executive analyst, attributed the shift to higher fuel prices and a recovery in demand after federal EV incentives ended a year earlier, according to CBT News. High fuel prices, he said, seem to favor well-executed, desirable used EVs, but they do little for the less popular models. The split in that Escalade IQ number illustrates his caution: the average climbs while some cars still sit.
For shoppers the picture is mixed. Autoblog notes that earlier warnings of a flood of cheap used EVs hurting residual values and costing manufacturers billions have not produced falling prices, since buyers are absorbing the inventory, and that tax credits and dealer promotions still offer bargains for now. Its March guide advised looking for three-year-old lease returns, which typically have low mileage and predictable maintenance, and checking the remaining battery warranty, often about eight years or 100,000 miles. It named the Audi e-tron, Tesla Model 3 and Hyundai Ioniq 5 among premium EVs that may now be affordable used.
Supply from expiring leases
Supply is the counterweight. Autoblog’s reporting says roughly 300,000 used EVs reach dealer lots this year as early lease programs expire. An earlier Autoblog piece in March cited Dave Thomas, senior manager of industry insights at CDK Global, who expected more than 300,000 EVs to come off lease in 2026 after leasing surged about three years ago.
Demand has shown up at the same time. Autoblog reported in July that 128,000 used EVs changed hands in the second quarter, up 29% and the best quarter on record, with Cox Automotive deputy chief economist Mark Strand supplying the data. New EV sales fell more than 20% in the same quarter after the federal tax credit ended. That study put the average used EV near $37,000, a higher figure than iSeeCars’ $32,533 because the two datasets measure different samples.
Battery health has been the usual worry about used EVs. The July report cited real-world fleet data averaging about 2.3% degradation per year, with most packs above 80% health at eight years, and still said EVs lose value faster than gas cars, advising buyers to buy one to drive, not to flip. Faster depreciation is the reason lease returns are cheap, and the 9.8% rise is a rebound from a low base, not a return to earlier prices.
The open question is whether the increase lasts. Brauer tied it to fuel prices and a post-incentive rebound, neither of which is permanent, and the lease wave Thomas described is still arriving. If supply keeps swelling faster than demand, the 9.8% rise could fade by the time the next iSeeCars reading appears.
This article was produced with the assistance of AI and reviewed by Morning Overview editors prior to publication.
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