Buying a used Toyota may not be the bargain you think it is anymore

Shopping for a used Toyota may no longer be the bargain it once was. Edmunds reports the average price of a 3-year-old used car jumped to $32,461 in the second quarter, a record high for that period. The used-car market has “fundamentally repriced itself,” with shoppers paying more for less—especially at the low end. In 2019, vehicles priced under $20,000 were 55% of sales; in Q2 2026, they were just 32%. Under $15,000 fell from 32% to 18%. Meanwhile, the share above $50,000 rose from 2% to 8%. Edmunds also notes buyers with $10,000–$15,000 now get 9-year-old cars with 98,222 miles on average, versus five years and 40,000 miles in 2019.