Asking Prices for Used Full-Size SUVs Rise as Fuel Costs Fall

Easing fuel costs are causing asking prices for some used full-size SUVs — the Chevrolet Tahoe and Suburban in particular — to rise, according to analysis from Cars.com.

Among the 10 used models with the biggest price increases this month, the average asking price for Suburbans shot up 19 percent or nearly $7,000 to $43,407 while Tahoe prices were at $37,824, representing a 5-percent gain.

Black Book's Ricky Beggs pointed out earlier this week that gas prices at the pump continue to decline.

Black Book noticed that last week’s drop came in at just over 6 cents, sending the national average to $3.54 per gallon. That figure represents a 38-cent lower mark than one year ago.

“If last year’s trend is any indication the lower prices should continue through the first of July,” Beggs said.

According to a Kicking Tires blog post by Cars.com’s Mike Hanley, late-model used-vehicle prices have moved 0.21 percent this month to an average of $22,667.

“That’s right about where prices were in January for 2010-2012 models,” Hanley wrote.

Only one other late-model used vehicle has jumped in price by double digits this month. Cars.com found it was the Kia Sedona. Its asking price is $19,799, which is 10 percent or $1,858 higher than what the site noticed in March.

On the other end of the spectrum, Cars.com indicated only one vehicle is sustaining a double-digit price decline this month. That’s the GMC Canyon, which has an asking price this month of $21,644. That amount is 18 percent or $4,671 lower than last month.

The complete Kicking Tires post can be found here.

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