Used Car Prices Are Officially Getting Out Of Hand

A new iSeeCars study says the “affordable” used-car market is shrinking fast for buyers trying to stay under $20,000. Looking at more than 11.4 million used vehicles sold in 2019 and 2026, the report focuses on models from three to 15 years old. In 2019, nearly half of three-year-old used vehicles cost less than $20,000; today, only 11.4% do. For five-year-olds, 69.2% were under $20,000 in 2019, but just 26.6% are now. iSeeCars’ Karl Brauer also notes the average price of a three-year-old vehicle has risen about $1,300 per year since 2019.