Used car prices finally appear to be 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.  

Despite the average used car decreasing in price, some used cars have increased in price. Here are the used cars that have had the highest price increases in each state:

Used Cars With the Greatest Price Increases By State - iSeeCars
State Car with Largest Year-over-year Price Increase % Diff $ Diff
Alabama Mitsubishi Mirage G4 23.0% $3,265
Alaska Toyota Camry 5.2% $1,346
Arizona Lexus ES 300h 26.5% $9,794
Arkansas Chevrolet Corvette 12.5% $9,313
California Porsche 911 24.8% $39,617
Colorado MINI Cooper Clubman 32.7% $8,018
Connecticut Audi Q3 21.1% $5,930
Delaware Lexus ES 350 17.6% $5,958
Florida Chevrolet Bolt EV 27.5% $6,104
Georgia Lexus ES 300h 28.7% $9,881
Hawaii Nissan Rogue 5.8% $1,603
Idaho Ford Mustang 11.5% $3,982
Illinois Porsche 911 37.3% $55,381
Indiana BMW 7 Series 66.0% $39,335
Iowa Toyota RAV4 Hybrid 12.4% $4,012
Kansas Toyota RAV4 Hybrid 12.4% $4,297
Kentucky Toyota RAV4 Hybrid 17.4% $5,547
Louisiana Audi Q3 21.7% $6,336
Maine Subaru Impreza 9.8% $2,035
Maryland Nissan LEAF 19.7% $4,718
Massachusetts Chevrolet Bolt EV 38.9% $7,904
Michigan Chevrolet Bolt EV 31.6% $6,465
Minnesota Toyota RAV4 Hybrid 22.1% $6,753
Mississippi Acura MDX 8.8% $3,560
Missouri Mitsubishi Mirage G4 15.5% $1,952
Montana Toyota Corolla 8.9% $1,726
Nebraska Honda Civic 11.3% $2,566
Nevada Toyota RAV4 Hybrid 11.8% $4,158
New Hampshire Toyota RAV4 Hybrid 13.6% $4,424
New Jersey Nissan LEAF 33.2% $7,086
New Mexico Honda Civic 7.9% $1,944
New York Chevrolet Bolt EV 32.0% $6,933
North Carolina Nissan LEAF 37.1% $8,569
North Dakota Cadillac Escalade 11.8% $8,755
Ohio Chevrolet Bolt EV 29.2% $6,285
Oklahoma Cadillac Escalade 11.7% $9,010
Oregon Nissan LEAF 33.2% $7,779
Pennsylvania Porsche 911 22.6% $33,266
Rhode Island BMW 3 Series 12.5% $4,167
South Carolina Lexus ES 350 12.5% $4,478
South Dakota Honda Civic 9.3% $2,004
Tennessee Chevrolet Bolt EV 32.8% $7,265
Texas Nissan LEAF 32.4% $6,940
Utah Audi Q3 18.8% $5,385
Vermont Toyota RAV4 Hybrid 14.0% $4,336
Virginia BMW 4 Series 32.0% $10,485
Washington Nissan LEAF 32.5% $7,387
West Virginia Mercedes-Benz GLE 11.0% $5,885
Wisconsin Chevrolet Bolt EV 31.9% $7,183
Wyoming Toyota Camry 6.8% $1,841
  • The car with the highest year-over-year price increase is a tie between the Chevrolet Bolt and the Toyota RAV4 Hybrid, in seven states.
  • The vehicle with the highest price increase across all states is the Porsche 911 in Illinois with an 37.3 percent increase. 
  • Hybrid and electric cars account for 22 vehicles on the list.
What Does This Mean for Consumers?

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 presenting a buying opportunity in the coming months for shoppers who have waited to buy a used car over the past two years.

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

This article, Used Cars to Avoid Buying Right Now, originally appeared on 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 $414 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.