Used car prices are up 10.9 percent over last year as the microchip shortage continues to impact the automotive industry, according to iSeeCars.com’s latest analysis of over 1.8 million used car sales in July. This is slightly up from a 10.5 percent increase in June and marks the second month of slight increases after four months of slowing price growth.

Used Car Price Increases by State

Are used car price increases consistent across the country? Here are the average used car price increases by state in ascending order:
Used Car Price Increases by State: July 2022- iSeeCars
Rank  State Year-Over-Year % Price Change Year-Over-Year $ Price Change
1 Oklahoma 0.8% $278
2 Alaska 1.3% $542
3 Rhode Island 3.4% $1,038
4 Hawaii 5.0% $1,562
5 Mississippi 5.1% $1,663
6 New Mexico 5.5% $1,788
7 Arkansas 5.6% $1,906
8 West Virginia 5.8% $1,885
9 Missouri 5.9% $1,891
10 South Dakota 6.0% $2,160
11 Texas 6.1% $1,989
12 Oregon 6.2% $2,027
13 Idaho 7.1% $2,477
14 Alabama 7.2% $2,218
15 Louisiana 7.4% $2,355
16 Michigan 7.5% $2,277
17 Kansas 7.7% $2,442
18 Utah 7.9% $2,431
19 Indiana 8.2% $2,469
20 Wyoming 8.4% $3,292
21 Wisconsin 8.4% $2,638
22 Tennessee 8.6% $2,663
23 Nevada 8.9% $2,677
24 Kentucky 9.2% $2,811
25 Washington 9.5% $3,085
26 Ohio 9.6% $2,775
27 Virginia 9.8% $2,994
28 Minnesota 9.8% $3,102
29 Iowa 9.9% $3,153
30 North Carolina 10.0% $3,106
31 Montana 10.2% $3,836
32 Nebraska 10.3% $3,240
33 Georgia 10.3% $3,300
34 Illinois 10.5% $3,297
National Average 10.9% $34,291
35 Maine 10.9% $3,302
36 Colorado 11.1% $3,475
37 Vermont 11.3% $3,262
38 New Hampshire 11.4% $3,386
39 Delaware 11.7% $3,327
40 Maryland 11.7% $3,470
41 Pennsylvania 12.6% $3,708
42 Florida 13.0% $3,842
43 California 13.1% $4,004
44 North Dakota 13.4% $4,411
45 Arizona 13.4% $4,056
46 Massachusetts 14.1% $4,176
47 Connecticut 14.3% $4,138
48 New Jersey 15.2% $4,486
49 New York 15.8% $4,595
50 South Carolina 16.8% $5,277
iSeeCars’ used car pricing analysis shows that consumers may be more likely to find a deal in some states than others.
  • South Carolina is the state with the greatest used car price increase in July 2022 compared to July 2021 at 16.8 percent, which amounts to $5,277
  • Oklahoma has the smallest used car price increase at 0.8 percent, which amounts to $278.
  • Of the 10 states with the highest price increases, seven are Eastern coastal states.

Vehicles with the Highest Used Car Price Increases by State

iSeeCars also examined which used car has gone up the most in price in each state:
Vehicles with the Highest Used Car Price Increases by State: July 2022- iSeeCars
Rank  State Year-Over-Year % Price Change Year-Over-Year $ Price Change
1 Alabama Toyota Prius 45.1% $9,973
2 Alaska Nissan Rogue 15.2% $4,275
3 Arizona Hyundai Sonata Hybrid 49.9% $9,477
4 Arkansas Toyota Prius 43.2% $9,163
5 California Nissan LEAF 53.5% $9,778
6 Colorado Nissan LEAF 74.5% $13,146
7 Connecticut Audi Q3 39.9% $10,192
8 Delaware Mercedes-Benz GLE 30.1% $14,332
9 Florida Hyundai Sonata Hybrid 72.0% $12,512
10 Georgia Audi A7 40.8% $15,934
11 Hawaii Nissan Sentra 24.8% $4,342
12 Idaho Volkswagen Jetta 22.2% $4,107
13 Illinois Chevrolet Bolt EV 41.3% $9,317
14 Indiana Toyota Prius 38.9% $8,240
15 Iowa Mitsubishi Outlander 30.8% $5,482
16 Kansas Acura TLX 28.1% $9,174
17 Kentucky Mitsubishi Mirage G4 31.1% $3,886
18 Louisiana Lincoln Navigator 34.7% $17,889
19 Maine Honda Accord 26.1% $5,815
20 Maryland Chevrolet Corvette 55.2% $39,866
21 Massachusetts Nissan LEAF 73.9% $15,093
22 Michigan Porsche Cayenne 49.7% $26,989
23 Minnesota Toyota Prius 51.2% $10,735
24 Mississippi BMW X5 29.6% $12,552
25 Missouri Toyota Camry Hybrid 38.2% $9,659
26 Montana Honda Civic 20.8% $4,473
27 Nebraska Subaru Legacy 38.9% $7,003
28 Nevada Toyota Camry Hybrid 39.2% $9,788
29 New Hampshire Volvo S60 28.7% $7,549
30 New Jersey Nissan LEAF 55.4% $10,017
31 New Mexico Kia Rio 42.6% $5,947
32 New York Hyundai Sonata Hybrid 66.9% $12,436
33 North Carolina Hyundai Sonata Hybrid 67.7% $12,846
34 North Dakota Honda Accord 38.3% $8,600
35 Ohio Toyota Avalon Hybrid 37.0% $9,737
36 Oklahoma Lincoln Navigator L 36.0% $21,167
37 Oregon Nissan LEAF 68.2% $13,905
38 Pennsylvania Nissan LEAF 75.7% $15,904
39 Rhode Island Volkswagen Jetta 22.6% $4,274
40 South Carolina Porsche Cayenne 39.2% $23,322
41 South Dakota Hyundai Elantra 19.1% $3,223
42 Tennessee Toyota Avalon Hybrid 43.4% $12,493
43 Texas Toyota Prius 40.2% $8,638
44 Utah Toyota Camry Hybrid 44.7% $10,775
45 Vermont Toyota RAV4 Hybrid 23.0% $7,038
46 Virginia Hyundai Sonata Hybrid 61.3% $10,951
47 Washington FIAT 500X 71.1% $10,742
48 West Virginia Mercedes-Benz GLE 41.5% $16,969
49 Wisconsin Toyota Camry Hybrid 35.8% $8,635
50 Wyoming Nissan Sentra 16.8% $3,016
  • The used car that has the highest increase in the most states is the Nissan LEAF in six states.
  • The used car that has the highest increase across all states is the Nissan LEAF in Pennsylvania with a 75.7 percent increase.
What does this mean for consumers? The best way for consumers to avoid significantly higher prices while car shopping for the foreseeable future is to either maintain their current vehicle or purchase a used vehicle that isn’t in high demand, and to be as flexible as possible with factors such as color and trim.

More from iSeeCars.com:

Methodology

iSeeCars.com analyzed over 1.8 million 1-5-year-old used car sales in July 2021 and 2022. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as both a percentage difference from the 2021 price as well as a dollar difference. Heavy-duty vehicles, low-volume vehicles, vehicles discontinued as of the 2022 model year, and vehicles with fewer than 4 of the 5 model years for each period were excluded from further analysis.

 

About iSeeCars.com

iSeeCars.com is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, including the iSeeCars VIN Check report and Best Cars Rankings. iSeeCars has saved users over $406 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.