The average one-to-five-year-old car cost an average of $33,582 in December. While this number seems high, used car prices have actually been falling after two years of year-over-year price increases as a result of the global microchip shortage. According to a recent iSeeCars.com analysis of over 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 is a ranking of the average used car price by state by ascending order:
Average Used Car Price by State - iSeeCars
Rank 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 Nevada $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 of $31,445.
  • Wyoming is the state with the highest average used car price of $41,405.
  • Seven of the 10 states with the lowest used car prices are East Coast states.
Used car prices are dropping, which means that shoppers who are waiting for prices to come down are now becoming more likely to find a used vehicle in their price range. While prices are still above pre-pandemic levels, the trend of falling used car prices is expected to continue. 

More from iSeeCars.com:

Methodology

iSeeCars.com analyzed over 1.9 million 1-5-year-old used car sales in December 2021 and 2022. The average listing prices of each car model were compared between the two time periods, 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 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.