- Three-year-old used cars cost over 38 percent more today than in 2019.
- Only 11 percent of three-year-old cars now sneak below the $20k mark.
- Ordinary cars like the Honda Civic and Hyundai Elantra lead the price rises.
Remember when $20,000 felt like a pretty healthy used-car budget? Those days are pretty much gone. New research shows that late-model bargains have become dramatically scarcer since 2019, leaving buyers choosing between spending more money and shopping much further back in time.
Related: The Average Used Car Crossed $27,000 For The First Time Since 2023
The study by iSeeCars analyzed more than 11.4 million used vehicles aged three to 15 years. The average three-year-old used car jumped from $23,624 to $32,651 between 2019 and 2026, a $9,027 increase, or 38.2 percent. And those figures aren’t adjusted for inflation, so this is a dollar comparison.
But the vanishing sub-$20K used car might sting even more. In 2019, 49.4 percent of three-year-old cars slipped beneath that line. Today, just 11.4 percent do. A budget that once opened half the late-model market now only lets you access a tiny sliver of it.
Going older helps, though “older” now really does mean older. Seven years ago, shoppers only had to consider four-year-old cars before a majority of the available vehicles fell below $20,000. In 2026, that tipping point doesn’t arrive until vehicles are seven years old, when 53 percent qualify. Five-year-old cars aren’t exactly bargain central either, with only 26.6 percent under the threshold.
Percentage Of Used Cars Under $20,000
Some nameplates have also developed unusually expensive prices. Among 21 best-selling used models, the Hyundai Elantra posted the biggest increase at 56 percent. A three-year-old example averaged $12,295 in 2019 and $19,178 now. The Toyota Camry climbed 49.9 percent to $24,829, while the Honda Civic rose 44.7 percent to $23,771.
Luxury car prices went even sillier. Three-year-old Porsche Cayennes rose a staggering 75.7 percent, while 911s gained 74 percent. There are exceptions, though. The Tesla Model X actually fell 17 percent, and the Land Rover Discovery Sport dipped 2.4 percent.
Some of the price rises can be put down to new car prices having risen substantially over those years, while the choke on new vehicle supply during the Covid-19 pandemic years also plays its part.
Price Increases For 3-Year-Old Cars
3-Year-Old Cars With Biggest Price Rises
3-Year-Old Cars With Smallest Prices Changes
