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The cars that left mostly had price cuts first

Most cars that sold or came off the market had already had an asking price reduction. In September, 64% of dealer-listed cars had at least one price cut while they were for sale, compared with 42% of privately listed cars.

For cars that were reduced, the typical drop was about $1,500 on a car initially listed for $26,890, or 5.6%. One in four of these cars had its asking price reduced by 10% or more.

A price cut here means the asking price came down while the car was for sale, measured against the price it was first listed at. On a car like the Forester, one of the deeper 10% cuts is about $2,800.

What this means if you're buying or selling now

If you're buying, the market is on your side when it comes to price. The same car is about $1,600 cheaper than last September, and most cars that sold or came off the market had already had a price cut. But the data can't tell you whether the car you want will still be available later.

September's figures don't tell us whether prices have finished falling. A dealer-listed car was about $1,100, or 4.2%, cheaper in September than the same car in May. But those figures describe the market as a whole, not what will happen to any one car.

If you’re waiting for prices to fall further, you could save money, but there’s no guarantee the car you want will be there when they do. If the car in front of you isn’t right, keep looking. If you find one that’s fairly priced against similar cars, it may not be there for long.

If you're selling, most cars that sold or came off the market in September had already had a price cut, typically by about $1,500. A car still priced at what it would have been listed for last September could be about $1,600 more expensive than a comparable car today.

Peter Willis, Carma’s Director of Buying, says: “If you find the right car at a fair price, don’t assume waiting will automatically get you a better deal. Prices are lower than last year, but a well-priced car won't hang around. If you’re selling, buyers are there, but they’re price sensitive. Cars priced to today’s market are the ones that'll sell.”

Whether you’re buying or selling, Carma takes the guesswork out of pricing: fixed, fair prices on every used car, plus seven days to drive and decide. Browse our used cars if you're in the market to buy, or get an online valuation to see what your current car's worth today.