Highlights:
- The average price of 3-year-old used cars has increased 38.2% ($9,027) since 2019, the last full year before the pandemic.
- Today, only about one in nine 3-year-old used cars costs less than $20,000, compared with nearly half in 2019.
- Buyers now have to consider used vehicles nearly twice as old to find a majority of them priced under $20,000.
- Among best-selling used cars: The Hyundai Elantra had the largest price increase, rising 56.0% from 2019 to 2026.
- Across all models: The Porsche Cayenne had the largest price increase at 75.7%, while the Tesla Model X had the largest decrease at 17.0%.
The affordability of a late-model used car has changed dramatically since 2019, the last full year before the pandemic. The average 3-year-old used car now costs $32,651, an increase of $9,027, or 38.2%, from its 2019 average price of $23,624. At the same time, the share of 3-year-old vehicles priced below $20,000 has fallen from nearly half of the market to barely one in nine. The result is a used car market where shoppers must either spend considerably more or buy a vehicle that is several years older.
iSeeCars analyzed over 11.4 million 3- to 15-year-old used cars sold in 2019 and 2026 to identify how used car prices and the share of vehicles priced under $20,000 changed by vehicle age and model.
“Today’s used car prices are among the most powerful examples of the affordability challenge facing consumers,” said iSeeCars Executive Analyst Karl Brauer. “With a $9,000 increase in the average 3-year-old car’s price since 2019, that’s an average of nearly $1,300 per year over seven years.”
Finding a used car under $20,000 now requires shopping for much older vehicles
In 2019, a budget of $20,000 gave shoppers access to nearly half of all 3-year-old used cars. In 2026, only 11.4% of 3-year-old vehicles are below that budget, a 38-percentage-point decline, which is a 76.9% reduction from 2019. Even among 5-year-old vehicles, just 26.6% cost less than $20,000, compared with 69.2% in 2019. These figures show that the loss of affordable inventory is not limited to newer used vehicles.
The age at which most used cars are priced under $20,000 has shifted from 4 years old to 7 years old. In 2019, 54.1% of 4-year-old vehicles were priced under $20,000. In 2026, shoppers must consider 7-year-old vehicles before more than half (53.0%) are available at that price.
| Percentage of Cars Priced Under $20,000 By Age of Car: 2026 vs. 2019 - iSeeCars Study | |||
| Age of Car (Years) | 2026 | 2019 | % Change |
| 3 | 11.4% | 49.4% | -76.9% |
| 4 | 17.0% | 54.1% | -68.6% |
| 5 | 26.6% | 69.2% | -61.6% |
| 6 | 42.4% | 80.0% | -47.0% |
| 7 | 53.0% | 85.5% | -38.0% |
| 8 | 65.5% | 89.5% | -26.8% |
| 9 | 75.6% | 93.6% | -19.2% |
| 10 | 81.4% | 95.3% | -14.6% |
| 11 | 86.7% | 95.1% | -8.9% |
| 12 | 91.6% | 96.3% | -4.8% |
| 13 | 94.5% | 95.9% | -1.5% |
| 14 | 95.1% | 96.6% | -1.5% |
| 15 | 95.4% | 97.3% | -2.0% |
Popular used cars have become substantially more expensive
The 38.2% increase in the average price of 3-year-old used cars is reflected in many of the sedans, SUVs, and pickup trucks consumers shop most often. Eight of the 21 best-selling used cars rose faster than the overall average, led by the Hyundai Elantra at 56.0%, the Kia Sportage at 50.5%, the Toyota Camry at 49.9%, and the Honda Civic at 44.7%. These top four are practical models meant to be affordable for mainstream buyers, but they have all dramatically increased in price. A 3-year-old Elantra that averaged $12,295 in 2019 now costs $19,178, an increase of $6,883. The 3-year-old Camry increased by $8,262, from $16,567 to $24,829.| Price Increases for Best-Selling 3-Year-Old Used Cars: 2019 to 2026 - iSeeCars Study | ||||
| Rank | Model | Avg Price 2019 | Avg Price 2026 | % Change |
| 1 | Hyundai Elantra | $12,295 | $19,178 | 56.0% |
| 2 | Kia Sportage | $16,312 | $24,543 | 50.5% |
| 3 | Toyota Camry | $16,567 | $24,829 | 49.9% |
| 4 | Honda Civic | $16,430 | $23,771 | 44.7% |
| 5 | Ram 1500 | $28,105 | $40,060 | 42.5% |
| 6 | Honda CR-V | $20,677 | $29,245 | 41.4% |
| 7 | Toyota RAV4 | $20,825 | $29,190 | 40.2% |
| 8 | Toyota Corolla | $14,301 | $19,971 | 39.7% |
| Overall Average | $23,624 | $32,651 | 38.2% | |
| 9 | Ford F-150 | $31,497 | $43,121 | 36.9% |
| 10 | GMC Sierra 1500 | $33,542 | $45,785 | 36.5% |
| 11 | Subaru Forester | $20,643 | $27,776 | 34.6% |
| 12 | Honda Accord | $18,095 | $24,143 | 33.4% |
| 13 | Jeep Wrangler | $25,934 | $34,132 | 31.6% |
| 14 | Chevrolet Silverado 1500 | $29,910 | $38,778 | 29.6% |
| 15 | Toyota Tacoma | $28,521 | $36,621 | 28.4% |
| 16 | Hyundai Tucson | $18,337 | $23,486 | 28.1% |
| 17 | Chevrolet Equinox | $17,420 | $21,813 | 25.2% |
| 18 | Nissan Rogue | $17,791 | $22,085 | 24.1% |
| 19 | Ford Explorer | $26,589 | $32,614 | 22.7% |
| 20 | Subaru Crosstrek | $20,870 | $24,315 | 16.5% |
| 21 | Jeep Grand Cherokee | $27,834 | $31,061 | 11.6% |
Luxury models lead the largest used car price increases
Luxury and performance vehicles dominate the list of models with the largest price increases. The Porsche Cayenne ranks first with a 75.7% increase, rising from $50,301 for a 3-year-old model in 2019 to $88,387 in 2026. The Porsche 911 follows with a 74.0% increase, while the Mercedes-Benz G-Class rose 72.8%. The Mercedes-Benz E-Class, Acura TLX, BMW M3, Lincoln Navigator, and BMW 3 Series also increased by at least 60%.| Three-Year-Old Used Cars With the Largest Price Increases: 2019 to 2026 - iSeeCars Study | ||||
| Rank | Model | Avg Price 2019 | Avg Price 2026 | % Change |
| 1 | Porsche Cayenne | $50,301 | $88,387 | 75.7% |
| 2 | Porsche 911 (coupe/convertible) | $132,369 | $230,273 | 74.0% |
| 3 | Mercedes-Benz G-Class | $99,967 | $172,781 | 72.8% |
| 4 | Mercedes-Benz E-Class (sedan/coupe/convertible) | $31,059 | $52,271 | 68.3% |
| 5 | Acura TLX | $21,277 | $35,555 | 67.1% |
| 6 | BMW M3 | $49,356 | $80,420 | 62.9% |
| 7 | Lincoln Navigator/Navigator L | $38,375 | $61,755 | 60.9% |
| 8 | BMW 3 Series | $23,698 | $37,922 | 60.0% |
| 9 | Hyundai Elantra | $12,295 | $19,178 | 56.0% |
| 10 | Nissan Versa | $10,146 | $15,718 | 54.9% |
| Overall Average | $23,624 | $32,651 | 38.2% | |
Tesla Model X prices fell while most used car prices rose
Only a small group of vehicles avoided the steep price increases seen across the broader market. The Tesla Model X had the largest decline, falling 17.0% from an average of $75,554 in 2019 to $62,689 in 2026. The Land Rover Discovery Sport also declined, though by a much smaller 2.4%. The other eight models in the top 10 became more expensive, but their gains remained far below the 38.2% average.| Three-Year-Old Used Cars With the Smallest Price Changes: 2019 to 2026 - iSeeCars Study | ||||
| Rank | Model | Avg Price 2019 | Avg Price 2026 | % Change |
| 1 | Tesla Model X | $75,554 | $62,689 | -17.0% |
| 2 | Land Rover Discovery Sport | $28,798 | $28,118 | -2.4% |
| 3 | Mazda CX-9 | $27,454 | $27,825 | 1.3% |
| 4 | Tesla Model S | $57,256 | $58,400 | 2.0% |
| 5 | Land Rover Range Rover Evoque | $31,630 | $32,274 | 2.0% |
| 6 | Volvo XC90 | $38,710 | $39,782 | 2.8% |
| 7 | Nissan Murano | $23,519 | $24,341 | 3.5% |
| 8 | Buick Envision | $25,868 | $27,106 | 4.8% |
| 9 | Chevrolet Malibu | $16,153 | $17,275 | 7.0% |
| 10 | Ford Edge | $22,450 | $24,383 | 8.6% |
| Overall Average | $23,624 | $32,651 | 38.2% | |
Used car affordability likely means buying an older model for many shoppers
The $9,000 increase in the average price of 3-year-old used cars since 2019, along with the shrinking percentage of used vehicles under $20,000, means shoppers who previously could afford a late-model used car may need to consider one that is seven or more years old. Unless late-model used car prices retreat or household purchasing power rises, more consumers will have to consider older vehicles to stay within their budgets.
Methodology
iSeeCars analyzed the prices of over 11.4 million 3- to 15-year-old used cars sold in 2019 and 2026. The percentage of cars priced under $20,000 was calculated for each age of car in each year. The pricing of 3-year-old used cars was further analyzed by model. Prices were not adjusted for inflation. The percentage difference in price across the two time periods was calculated for each model and used to rank models by their change in price.
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 $450 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.
