this post was submitted on 25 Jul 2025
15 points (75.9% liked)

Economics

916 readers
15 users here now

founded 2 years ago
15
Used cars under $20K have almost vanished from the market (www.usatoday.com)
submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world
6 comments fedilink hide all child comments
 

Before the COVID-19 pandemic, more than half the used cars for sale in the nation were 3-year-old vehicles priced for $20,000 or less. Today, those same type of vehicles comprise only 11% of used cars.

In fact, most shoppers who are in the market for a used vehicle would be hard-pressed to find a 3-year-old model below even $30,000, forget finding one for $20,000.

According to a new study from research website iSeeCars.com called: "The sub-$20,000 used car is almost gone," the average list price for a used 3-year-old vehicle is now $32,635, that’s $9,476 more than it was six years ago.

you are viewing a single comment's thread
view the rest of the comments
[–] ryathal@sh.itjust.works 3 points 1 week ago

There's no sub 20k used cars under 3 years old because there aren't new cars under 30k. That's how math works.