You've heard CarProUSA Radio Show host Jerry Reynolds talk about high used car prices on the show consistently for months. According to a recent data analysis from iSeeCars.com, average used car prices have soared to record highs, with the average used car costing $24,710. Researchers attribute it to two things. More demand for used cars than there is supply and and buyer preference for more expensive SUVs and trucks over less expensive passenger cars.
Used Cars Prices and Geography
Used vehicle pricing is not just about the vehicle itself, but also where you live. iSeeCars.com data shows that buyers in some states pay well above the average used car price, while others pay significantly below. Alaska car buyers pay the most for used cars - roughly $7,700 dollars more than buyers in the least expensive state to buy used cars, which is Indiana.
iSeeCars says it analyzed 8 million car sales to determine where drivers pay the most and least for used cars. The shares of trucks, SUVs, passenger cars (defined as sedans, coupes, convertibles, hatchbacks, and wagons), and minivans within each state were also calculated and used as ranking metrics across states.
A look at the average used car price in some of our CarProUSA Radio markets. The national average used car price is $24,710.
- San Antonio - $26,308
- Houston - $26,964
- Columbus, OH - $22,098
- Austin - $26,010
- Dallas-Fort Worth -$26,351
- Sacramento-Stockton-Modesto - $24,654
- Portland, OR - $24,527
- Los Angeles - $25,782
- San Diego - $25,025
“Supply and demand for certain vehicle types varies geographically, which is why used car prices vary across cities and states,” said iSeeCars Executive Analyst Karl Brauer. “States with temperate climates tend to have more lower-priced sedans, while mountainous and harsh climate areas prefer trucks and SUVs.”
Now here's a look at iSeeCars.com's list of used car prices by state in order of most expensive to least expensive. Texas and California both make the top ten.
Which States Pay the Most for Cars? - iSeeCars | |||
Rank | State | Average Used Car Price | % Difference Over Average |
1 | Alaska | $29,656 | 20.0% |
2 | Wyoming | $29,419 | 19.1% |
3 | Montana | $27,303 | 10.5% |
4 | Arkansas | $27,123 | 9.8% |
5 | Idaho | $26,662 | 7.9% |
6 | Texas | $26,620 | 7.7% |
7 | New Mexico | $26,261 | 6.3% |
8 | Mississippi | $25,788 | 4.4% |
9 | New York | $25,693 | 4.0% |
10 | California | $25,555 | 3.4% |
11 | Florida | $25,478 | 3.1% |
12 | Nevada | $25,317 | 2.5% |
13 | Georgia | $25,299 | 2.4% |
14 | West Virginia | $25,260 | 2.2% |
15 | North Dakota | $25,259 | 2.2% |
16 | South Dakota | $25,156 | 1.8% |
17 | Oklahoma | $25,128 | 1.7% |
18 | Louisiana | $24,979 | 1.1% |
19 | North Carolina | $24,976 | 1.1% |
20 | Rhode Island | $24,962 | 1.0% |
21 | Utah | $24,842 | 0.5% |
Average Used Car Price | $24,710 | - | |
22 | Colorado | $24,684 | -0.1% |
23 | Oregon | $24,649 | -0.2% |
24 | Maine | $24,576 | -0.5% |
25 | Alabama | $24,534 | -0.7% |
26 | Arizona | $24,520 | -0.8% |
27 | Massachusetts | $24,491 | -0.9% |
28 | Illinois | $24,421 | -1.2% |
29 | Washington | $24,398 | -1.3% |
30 | South Carolina | $24,390 | -1.3% |
31 | Kansas | $24,357 | -1.4% |
32 | New Jersey | $24,329 | -1.5% |
33 | Wisconsin | $24,315 | -1.6% |
34 | Tennessee | $24,273 | -1.8% |
35 | Missouri | $24,142 | -2.3% |
36 | New Hampshire | $24,104 | -2.5% |
37 | Vermont | $24,033 | -2.7% |
38 | Maryland | $23,934 | -3.1% |
39 | Nebraska | $23,725 | -4.0% |
40 | Pennsylvania | $23,488 | -4.9% |
41 | Delaware | $23,469 | -5.0% |
42 | Michigan | $23,348 | -5.5% |
43 | Hawaii | $23,290 | -5.7% |
44 | Minnesota | $23,120 | -6.4% |
45 | Iowa | $23,062 | -6.7% |
46 | Kentucky | $22,995 | -6.9% |
47 | Virginia | $22,618 | -8.5% |
48 | Connecticut | $22,528 | -8.8% |
49 | Ohio | $22,244 | -10.0% |
50 | Indiana | $21,961 | -11.1% |
For more study details visit iSeeCars.com.
Photo Credit: ByBELL KA PANG/Shutterstock.com
