will used car prices drop

In Australia, used car prices have been easing since the pandemic peak, though they’re still above 2019 levels.

As new-car supply normalises and interest rates bite, the pressure is downwards—slowly, not like a bowling ball off the ute.

Stock-heavy segments (ex-lease hatches, mid-size SUVs, older EVs) are softening faster, while low‑km dual-cab utes and niche 4x4s remain stubborn.

Expect continued gradual deflation through 2025 if supply keeps improving and demand stays sensible.

Timing helps: shopping around EOFY or end-of-quarter can loosen dealer resolve, and private sales often price keener.

Bottom line: prices are drifting down, but the bargain tide doesn’t lift all boats at once—buy on condition, history and price, not vibes.