December 20, 2023 8:09 pm by Mark Holthoff

The Fastest Selling Used Cars in November 2023

Introduction

If you’ve been following the used car market, you might be feeling a little discombobulated. After several years of pandemic-related inventory shortages and price hikes, the cost of the average used car has finally started to come back down. But used cars still cost more than they once did. And that’s only half the story. Higher interest rates and growing uncertainty about the economy have consumers rethinking their big-ticket purchases.

With that in mind, we reached out to Ivan Drury, director of insights at Edmunds, for some analysis. He provided us with a look at the most popular used cars on the market in November 2023. These are the used models (3-7 years old) with the shortest “days to turn” — industry-speak for how long, on average, they sit on dealership lots before being sold. The shorter the duration, the more popular the model. The average was 37 days.

Looking at what’s a hot seller right now tells us a lot about what current buyers are thinking. So let’s dive in and see what we find.

The List

For the month of November 2023, these were the fastest-selling used models, ranked by their average days to turn.

2016 Nissan Sentra (15 Days)

With just 15 days to turn on average, the 2016 Nissan Sentra was the fastest-selling used car last month. The compact sedan competes with the Honda Civic and Toyota Corolla for budget buyers, offering similar utility but for a lower price. Specifically, buyers ponied up $9,597 on average for the model, making it the cheapest on our list.

The Sentra was refreshed for the 2016 model year, adding some key safety features such as automatic emergency braking and blind-spot assist, increasing its overall appeal.

2020 Audi A3 (15 Days)

Tying the Sentra at 15 days to turn was the 2020 Audi A3. At an average transaction price of $21,305, it’s more than twice as expensive, as you might expect from a luxury nameplate. But in other ways, it’s quite similar. For instance, it’s also a small sedan. Likewise, it’s a slightly cheaper alternative to popular rivals from Mercedes-Benz and BMW.

Also worth noting, the 2020 A3 is the final year of the model’s second generation. An all-new third generation appeared in 2022.

2016 Toyota Camry (20 Days)

Next up is the 2016 Toyota Camry with a slightly longer 20-day average. That’s still pretty quick, though. In fact, it’s almost twice as fast as the November 2023 average (37 days). Known for its reliability and comfort, the Camry offers a balanced package that appeals to families and individuals alike.

Its average transaction price of $15,630 also makes it reasonably priced, especially for a popular model wearing the trusted Toyota badge.

2017 Toyota Corolla (20 Days)

Matching the Camry’s 20-day turnaround, the 2017 Toyota Corolla is another enduring favorite. Priced slightly lower at $14,958 on average, the Corolla is a go-to choice for those seeking a dependable and economical compact.

Its longstanding reputation for low maintenance costs adds to its desirability, as does the minor refresh it received for the 2017 model year, giving it more contemporary styling, a more upscale interior, and additional safety features.

2018 Lincoln MKZ (20 Days)

The 2018 Lincoln MKZ, an entry-level luxury sedan, also stands at a 20-day average turnover. With an average price of $21,899, the midsizer is still a relatively affordable option, with comfort and features normally reserved for pricier models from top-tier marques such as Lexus or BMW.

Notably, Lincoln discontinued the MKZ after the 2020 model year, making it something of a hidden value, too.

2016 Nissan Altima (21 Days)

The 2016 Nissan Altima averaged 21 days on the lot last month, selling for an average price of $11,914. The midsize sedan’s balance of comfort, efficiency, and value makes it a popular choice among a wide range of buyers.

Like its smaller sibling, the Sentra, the Altima also gained some important safety tech for 2016, adding to its desirability.

2017 Nissan Rogue Sport (21 Days)

The 2017 Nissan Rogue Sport sold in a relatively speedy 21-day average in November. It’s also the first SUV to appear on our list. The compact crossover, which debuted for the 2017 model year, is slightly smaller than its namesake, the Rogue, offering similar space and utility for a bit less money.

Its average selling price for the month was $16,951.

2016 Kia Sportage (22 Days)

The only other SUV on our list is the 2016 Kia Sportage, averaging 22 days to sell in November at a price of $11,374. Like the Rogue Sport, the compact Kia offers a combination of style, utility, and affordability that makes it a desirable option for those needing a bit more versatility than a sedan can offer.

Kia completely redesigned the Sportage for the 2017 model year, making the 2016 version even more of a value play.

2016 Volkswagen Jetta (22 Days)

Also averaging 22 days to turn was the 2016 Volkswagen Jetta. The compact German sedan is known for its solid build quality, comfortable interior, and engaging driving dynamics — especially with the more powerful and efficient base engine that debuted with the 2016 model year.

These attributes give the Jetta an upscale feel without inflating the price tag, as its $10,959 average transaction price reflects. That’s the second cheapest on our list.

2020 Mercedes-Benz CLA (22 Days)

Rounding out the list is the 2020 Mercedes-Benz CLA. With an average price of $30,765, it’s the most expensive model in our top ten. But it’s also one of the most affordable entry points into the coveted brand.

The compact coupe-like sedan was completely redesigned for the 2020 model year, increasing its overall appeal with fresher styling, a larger cabin, and better tech features.

Market Analysis and Insights

According to Drury, the current mood in the used car market seems to be one of economical pragmatism with smaller, older, and more affordable vehicles like the 2016 Nissan Sentra in greatest demand. Perhaps most noteworthy of all is that only two SUVs found their way into the list. The rest are small and midsize sedans, which are cheaper to buy and run than their SUV counterparts, underscoring the value trend.

The luxury market follows suit. Instead of the traditional larger models, buyers are snapping up premium subcompacts like the Mercedes-Benz CLA and Audi A3. These cars deliver an upscale feel and features within a more economically viable framework.

What It Means for Used Car Buyers

As we approach 2024, uncertainties about interest rates, the economy, and the election have consumers taking a cautious approach. If you’re shopping for a used car right now, keep this in mind, especially if you’re looking at compact or midsize sedans.

With the dramatic increase in SUV sales in recent years, sedans used to be the place to find value. But more and more buyers seem to be crowding the space, which may put upward pressure on prices. At the very least, the added competition could mean that, once you find the sedan that you’re looking for, you should be prepared to act fast.

Appendix: Grid View

For quick reference, here’s the full top ten list for November 2023 in grid format, including each model’s average days to turn, transaction price, and odometer reading.

Thanks again to the Industry Insights team at Edmunds for providing the data.

Photos courtesy of Audi, Kia, Lincoln, Mercedes-Benz, Nissan, Toyota, and Volkswagen