FILE – A line of used Toyota cars are for sale at a Carmax dealership, Wednesday, Feb. 2, 2022, in Miami Lakes, Florida (The Associated Press)
(iSeeCars): The average one- to five-year-old car cost an average of $33,582 in December. While that number seems high, used car prices have been falling after two years of year-on-year price increases as a result of the global microchip shortage. According to a recent iSeeCars.com analysis of more than 1.9 million used car sales, used car prices decreased 3.0 percent in December 2022 compared to the previous year.
Average used car prices by state
Some states pay more than others for used cars. Here’s a ranking of the average used car price by state in ascending order:
| Average used car price by state – iSeeCars | ||
| classification | state | Average used car price |
| 1 | Vermont | $31,445 |
| 2 | New Hampshire | $31,833 |
| 3 | Ohio | $32,267 |
| 4 | Hawaii | $32,381 |
| 5 | Rhode Island | $32,789 |
| 6 | Delaware | $32,924 |
| 7 | Indiana | $32,936 |
| 8 | Connecticut | $32,991 |
| 9 | pennsylvania | $33,097 |
| 10 | Massachusetts | $33,232 |
| 11 | New York | $33,246 |
| 12 | Maryland | $33,377 |
| Average used car price | $33,582 | |
| 13 | Missouri | $33,596 |
| 14 | Michigan | $33,597 |
| 15 | virginia | $33,724 |
| 16 | Maine | $33,758 |
| 17 | Minnesota | $33,758 |
| 18 | West Virginia | $33,761 |
| 19 | New Jersey | $33,936 |
| 20 | Wisconsin | $34,018 |
| 21 | mississippi | $34,130 |
| 22 | Kentucky | $34,176 |
| 23 | Alabama | $34,206 |
| 24 | Arizona | $34,413 |
| 25 | Florida | $34,519 |
| 26 | Utah | $34,580 |
| 27 | Tennessee | $34,658 |
| 28 | North Carolina | $34,725 |
| 29 | snowfall | $34,859 |
| 30 | South Carolina | $35,015 |
| 31 | Texas | $35,061 |
| 32 | Nebraska | $35,064 |
| 33 | New Mexico | $35,189 |
| 34 | Illinois | $35,217 |
| 35 | Colorado | $35,269 |
| 36 | Kansas | $35,323 |
| 37 | oklahoma | $35,509 |
| 38 | Oregon | $35,556 |
| 39 | Iowa | $35,750 |
| 40 | California | $35,759 |
| 41 | Louisiana | $35,893 |
| 42 | Georgia | $36,016 |
| 43 | Washington | $36,119 |
| 44 | Arkansas | $36,343 |
| 45 | Idaho | $37,092 |
| 46 | South Dakota | $37,192 |
| 47 | North Dakota | $37,773 |
| 48 | montana | $38,943 |
| 49 | Alaska | $40,462 |
| 50 | Wyoming | $41,405 |
- Vermont is the state with the lowest average used car price at $31,445.
- Wyoming is the state with the highest average used car price at $41,405.
- Seven of the 10 states with the lowest used car prices are East Coast states.
Used car prices are falling, which means buyers who wait for prices to drop are increasingly likely to find a used vehicle in their price range. Although prices are still above pre-pandemic levels, the downward trend in used car prices is expected to continue.
More from iSeeCars.com:
Methodology
iSeeCars.com analyzed more than 1.9 million used car sales between 1 and 5 years old in December 2021 and 2022. It compared the average list prices of each car model between the two time periods time and the differences were expressed as a percentage difference from the 2021 Price as well as a dollar difference. Heavy-duty vehicles, low-volume vehicles, vehicles discontinued after model year 2022, and vehicles with less than 4 of 5 model years for each period were excluded from further analysis.
About iSeeCars.com
iSeeCars.com is an automotive search engine that helps shoppers find the best car deals by providing key information and valuable resources, such as iSeeCars’ free VIN Check Reports and Best Cars ratings. iSeeCars.com has saved users more than $372 million to date by applying big data analytics powered by more than 25 billion data points (and growing) and using proprietary algorithms to analyze , objectively rate and rank millions of new and used cars.
