Economics

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.