Tesla used car prices continue to plummet, while the average used car price is increasing. Despite being considered a premium brand, used Tesla vehicles are now cheaper than the used car sale price.

The average price of a used Tesla has fallen below the overall average for US used car market — a first for Elon Musk's electric vehicle maker.

Used EV prices are at an all-time low, but they're showing signs of stabilizing. Teslas saw the steepest average depreciation over the last year, with the Model S being the worst-hit.

Prices have fallen for several reasons, all benefiting consumers looking for a used Tesla electric vehicle. Here's what to know.

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“Just as used electric vehicle prices are stabilizing, traditional used cars are going back up in value," Karl Brauer, executive analyst for iSeeCars, said in the release.