The average one-to-five-year-old car cost an average of $34,291 in July according to iSeeCars.com’s latest analysis of over 1.8 million used car sales. This is up slightly from June when the average used car cost an average of $34,154, and marks the second month of slight increases after four months of slowing price growth.

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 Rhode Island $31,294
2 Delaware $31,544
3 Ohio $31,704
4 Vermont $31,719
5 Indiana $32,026
6 Michigan $32,488
7 Nevada $32,843
8 Hawaii $32,887
9 New Hampshire $33,021
10 Connecticut $33,033
11 Maryland $33,042
12 Alabama $33,066
13 Oklahoma $33,145
14 Pennsylvania $33,163
15 Florida $33,229
16 Utah $33,344
17 Kentucky $33,352
18 Virginia $33,512
19 Maine $33,631
20 New York $33,653
21 Tennessee $33,678
22 Massachusetts $33,713
23 Wisconsin $33,785
24 Missouri $33,908
25 Louisiana $33,937
26 New Jersey $34,009
27 Mississippi $34,048
28 West Virginia $34,125
29 North Carolina $34,145
30 Arizona $34,174
31 New Mexico $34,242
32 Kansas $34,286
Average Used Car Price $34,291
33 Texas $34,340
34 Minnesota $34,460
35 California $34,617
36 Oregon $34,683
37 Nebraska $34,736
38 Illinois $34,781
39 Colorado $34,787
40 Iowa $34,892
41 Georgia $34,936
42 Washington $35,265
43 Arkansas $35,499
44 South Carolina $35,697
45 Idaho $36,679
46 North Dakota $37,279
47 South Dakota $37,396
48 Montana $38,205
49 Wyoming $41,629
50 Alaska $42,617
  • Rhode Island is the state with the lowest average used car price of $31,294.
  • Alaska is the state with the highest average used car price of $42,617.
What does this mean for consumers? The current state of the used car market presents a lucrative trade-in opportunity for consumers who have a used vehicle to sell. While consumers were previously advised to wait to purchase a used car if they were able to do so, the microchip shortage is expected to persist until early 2023. The best way to avoid severe price hikes for the foreseeable future is to purchase a used vehicle that isn’t in very high demand, such as a sedan, and if possible, purchase it from a state or region with lower price increases.

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 car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $343 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.

This article, This is the Average Price of Used Car in Each State, originally appeared on iSeeCars.com.