- Used car prices have surged, with the average three-year-old vehicle now costing over $32K.
- Only 11.5% of three-year-old vehicles now cost under $20,000 compared to 49.3% in 2019.
- Popular models like the Honda Civic and Toyota Corolla have seen huge price increases.
If you’re in the market for an affordable used car, you’re gonna need a lot of luck. These days, it seems like all the affordable options are either old, high mileage, or both.
We’re not the only ones to have noticed; a new study found late model, used vehicles costing under $20,000 have largely disappeared. This is a huge change, as 49.3% of three-year-old used cars cost $20,000 or less in 2019, but today that number has plunged to just 11.5%.
More: Used Car Prices Just Got Pricier And It’s Not Just Supply That’s To Blame
Digging deeper into the study, iSeeCars found the average price of a three-year-old used vehicle has climbed 40.9% since the pandemic. This means the price has shot up from $23,159 in 2019 to $32,635 in 2025. That’s an increase of $9,476 and it means affordability has become a serious problem.
Part of the change can likely be explained by the death of affordable sedans. These were cheap to begin with and, naturally, even more affordable used. However, a number of automakers have slashed or eliminated their sedan lineups to focus on more popular and profitable trucks, crossovers, and SUVs.
Average Price of 3-Year-Old Vehicle
Given the limited options these days, it’s probably not surprising to learn the price of a three-year-old used sedan saw a 48.7% increase between 2019 and 2025. They used to cost an average of $19,734, but you’re looking at $29,343 today. That’s a big change, but sedans are $7,166 cheaper than your average three-year-old used SUV.
SUVs aside, a late model Nissan Sentra would set you back $12,504 in 2019, but it’s $18,224 today. Likewise, a three-year-old Honda Civic has jumped from $16,472 to $23,813, and the Toyota Corolla’s price has shot up by 37.7% to $19,792.
Average Price of 3-Year-Old Vehicle
Unsurprisingly, vehicles that used to be popular picks under $20,000 are practically no longer available, especially if you’re looking for something no more than three years old. The Honda CR-V, Toyota RAV4, and Subaru Forester were once prime choices, but it’s now rare to see them going for under $20k.
In 2019, 97.6% of three-year-old Civics were listed for less than $20,000; today, those cars barely exist, with only 5.7% being priced below 20 grand. Still, there are a few to be had, whereas you can no longer get a Chevrolet Silverado 1500 below that threshold in spite 1.5% of them belonging in that niche in 2019.
