Although inventory of used cars remains lower than normal, and prices are higher than typical, COVID hasn’t negated all of the used car deals this year. Both the Chevy Bolt battery-electric vehicle and the Toyota Prius have earned spots on iSeeCars.com’s top-ten list of the best used car deals this Black Friday.
“Black Friday typically ushers in the time of year when dealers are most likely to offer used car deals, which aligns with the height of the new vehicle buying season,” said iSeeCars.com Executive Analyst Karl Brauer. “While the used car market is currently seeing lower than normal inventory and higher than normal prices, there are still deals to be had this Black Friday.”
iSeeCars researchers analyzed over 1.8 million cars currently for sale the week approaching the holiday, to determine which cars will likely offer the greatest deals on this popular shopping day. As it turns out, eight of the top ten vehicles are affordable small vehicles. Only the Dodge Caravan and Toyota Sienna minivans make the top-ten list as a larger vehicle.
Chevy Bolt shoppers can expect to see prices roughly 10% better than the non-holiday week. That translates to a significant $1,901 discount from what a used Bolt might normally sell for. The Prius is also seeing a softening of prices this holiday week. Prius shoppers can expect an approximately 7% lower price and a savings of roughly $1,247. “The Bolt and the Prius have been steadily declining in sales in recent years, and gas prices are the lowest they have been since 2016, which further lowers the demand for these vehicles,” said Brauer.
Bolt shoppers in EV-target states like Massachusetts and Rhode Island should be sure to compare the used prices of a Bolt to the cost of a new Bolt. Chevy dealers have been offering discounts of as much as $13,000 off the price of new Bolts all year long. In addition, many states offer EV incentives like thousands of dollars in rebates to new EV shoppers. The DriveGreen website is showing new Bolts for sale in Massachusetts with a consumer cost of just $21,000.
Note that these are national averages. Be sure to look closely at the deals in your expanded geographical area to find the deal that works best for you. For a more detailed breakdown of the best Black Friday used vehicle deals by segment, check out the iSeeCars.com report.
John Goreham is a long-time New England Motor Press Association member and recovering engineer. Following his engineering program, John also completed a marketing program at Northeastern University and worked with automotive component manufacturers. In addition to Torque News, John's work has appeared in print in dozens of American newspapers and he provides reviews to many vehicle shopping sites. You can follow John on Twitter, and view his credentials at Linkedin