Used Car Prices Continue Their Consistent Decline

Ender Öztürk

August 24, 2026

In the Turkish automotive sector, high interest rates, restricted access to vehicle financing, and aggressive marketing campaigns for new vehicles are driving a significant downturn in used car prices. According to the latest market analysis by automotive data firm Cardata, second-hand automobile prices have been consistently falling for five consecutive months. This downward trend is heavily influenced by current economic conditions, including high inflation and tightened credit accessibility. If these fiscal circumstances persist, analysts project that the market could see an additional price correction of up to 12% by the end of the year, signaling a challenging period for used car sellers across Turkey.

Real Value Loss Reaches 36 Percent Over Nineteen Months

Data from the first half of 2026 indicates that the used vehicle market is struggling to maintain its previous momentum. During this period, total sales for used cars and light commercial vehicles experienced a 1% contraction, settling at 1,302,796 units. The new vehicle market faced an even steeper decline of 8.19%. While sales volume appears relatively stable, the price indices reveal a much more aggressive shift in market dynamics.

The real value of used vehicles has plummeted by over 16% in just six months when measured against consumer inflation.

A long-term analysis provides a stark picture of the current market state. Although nominal prices have remained nearly stagnant since late 2024, the cumulative inflation rate of 56.9% has eroded the real purchasing power of vehicle owners. Effectively, the market has seen a 36% loss in real value, making cars a depreciating asset at an accelerated rate compared to historical norms.

Downward Price Trends Accelerate Monthly

Market analysts note that this decline is far from a temporary fluctuation. Hüsamettin Yalçın, General Manager of Cardata, emphasizes that the rate of price erosion has gained significant speed recently. Monthly data shows a consistent acceleration in the decline: a 0.35% drop in March, followed by 0.46% in April, 0.69% in May, 1.11% in June, and a sharp 1.60% reduction in July.

New Vehicle Campaigns Suppress Used Market Values

Two primary factors currently stifle the used car market: the high cost of borrowing and the attractive incentives provided by vehicle distributors. With interest rates for auto loans hovering near 47%, consumers are finding it increasingly difficult to secure financing. Consequently, distributors are responding with cash discounts and trade-in support for new models, effectively creating a price ceiling for younger used vehicles.

Buyers are increasingly choosing new vehicles as the price gap between brand-new models and late-model used cars continues to narrow.

Market Outlook Suggests Further Corrections Are Expected

In a scenario where high deposit returns and current economic policies remain in place, experts do not foresee a sudden upward spike in used car valuations. Projections indicate that prices will likely continue to drop by an average of 1.5% to 2.5% each month in the near term. This ongoing nominal adjustment suggests that owners of used vehicles will continue to face significant real value depreciation as the year concludes.

We would love to hear your thoughts on the current state of the automotive market; do you believe these price drops will make it a better time to purchase a vehicle, or are you waiting for further corrections? Please share your perspective in the comments section below.