While the prices of used cars are decreasing in some states, other drivers are paying more than ever. This is often due to the supply and demand of certain models, but inflation is still hitting the whole country. Additionally, automakers must still manage the carryover effects of the coronavirus (COVID-19) pandemic, especially supply chain shortages.
However, with a little extra planning, you can still get a used car at a relatively affordable price. If you’re willing to commute out of state, you’ll find the best deals in the following areas.
5. Kentucky
The average used car in the U.S. has grown in value by about 35 percent since January 2021, which in Kentucky affects the taxes owners have to pay on their cars. https://t.co/Dhl5xCEpaL
— Newsweek (@Newsweek) January 12, 2022
According to iSeeCars, the average used car purchased in Kentucky only costs $22,995. The site determined which states have the cheapest used vehicles by analyzing 8 million car sales during a six-month study in 2021. Each state on this list also offers used cars at more affordable rates compared to the national average, which can be as high as $29,656.
iSeeCars also notes that each state’s most popular vehicle type also determines the average used car prices. For example, Alaska’s used cars are typically more expensive because its drivers favor SUVs and trucks.
However, you can get a much better deal on a sedan if you live in a state like Wyoming or Montana. In contrast, you might pay well over $20,000 for a sedan in California or Florida.
4. Virginia
A ‘Virginia is for Lovers’ welcome sign for the state of Virginia | Joe Sohm/Visions of America/Universal Images Group via Getty Images
On average, a used car in Virginia can be bought for $22,616. That’s 8.5% below the national average, and over 41% of used cars sold are sedans.
SUVs are almost as popular, and it actually costs more to purchase a Jeep Wrangler in Virginia compared to any other state. Only 12.4% of Virginia drivers bought used trucks in 2021. Minivans are predictably even less popular, accounting for 3.4% of those car sales.
3. Connecticut
Even though SUVs are the most popular cars in this state, the average used vehicle still only costs $22,528. SUVs accounted for nearly 47% of the state’s vehicle sales from February to July 2021. In contrast, less than 40% of the cars sold were smaller passenger cars.
Research indicates that the Ford Mustang might be the most popular car in this state, so it’s more expensive than most used vehicles. iSeeCars says the average used Mustang from the last three model years costs $41,242. You’re better off buying a new one (and taking advantage of its complete manufacturer warranty coverage) for $27,470.
2. Ohio
In the Buckeye State, you can typically buy a used car for $22,244 (10% below the national average). SUVs are still quite popular in Ohio, followed closely by pickup trucks. However, the all-electric Nissan LEAF hatchback is still the most in-demand vehicle overall. Still, less than 21% of the cars sold during iSeeCars’s affordability study were sedans.
1. Indiana
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Indiana is the cheapest place to buy a used car right now, costing an average of $21,961. While the Honda Accord could be this state’s favorite used car, over 42% of drivers prefer SUVs. The Accord is nearly $20,000 more than it was three years ago at its current asking price of $31,236.
Over 35% of Indiana drivers purchased sedans during the first half of 2021. Trucks and minivans were far less popular, accounting for less than 20% of used vehicles sold during the course of the study.
Keyword: The 5 States With the Cheapest Used Car Prices, According to iSeeCars