You're Not Going Crazy: Affordable Used Cars are Disappearing

Prices are up 40 percent compared to 2019.

Photo by: Honda

By: Anthony Alaniz

Jun 25, 2025 at 2:30pm ET

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If you're looking for a used car, you'll likely struggle to find a good, affordable option. The average price of a three-year-old used vehicle is up 40.9 percent compared to the market in 2019, and the share of those vehicles that cost under $20,000 is quickly disappearing.

Today, a three-year-old used car costs, on average, $32,635, according to a new iSeeCars study. That's a sizable increase from the $23,159 average price in 2019. Six years ago, the sub-$20,000 market made up 49.3 percent of three-year-old used cars. Now, in 2025, only 11.5 percent of used cars for sale cost under $20,000.

Price Range	Share % 2019	Share % 2025	Share % Change
Sub-$20,000	49.3%	11.5%	-76.6%
$20,000-$30,000	32.7%	43.0%	31.5%
$30,000-$40,000	12.4%	26.1%	110.3%
$40,000-Plus	5.6%	19.4%	245.7%

The pandemic is one major reason for the price increases. COVID-19 triggered a cascade of events that limited new-car production and forced automakers to focus on producing profit-rich models through 2021 and 2022. That has led to a smaller number of affordable used vehicles on the market today.

iSeeCars Executive Analyst Karl Brauer said that "the lack of new car production five years ago has created a "pandemic hangover" effect for today's used car market. He says now that many buyers who cannot afford late-model used cars are looking at older cars with more miles.

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In 2025, most three-year-old used cars are priced in the $20,000 to $30,000 range, including popular models like the Honda Civic, Toyota Corolla, and Nissan Rouge. They're up 44.6, 37.7, and 34.7 percent, respectively. The percentage of used cars priced in the $30,000 to $40,000 and $40,000-plus ranges have also increased, leaving cost-conscious buyers with fewer choices.

What's the reason again for why we can't buy those cheap Chinese EVs? American consumers are clamoring for cheaper vehicles when they're only getting more expensive. Perhaps the new Slate truck might provide some relief.