Used car prices have reached record highs, with the average used car price at $24,710 according to iSeeCars.com’s recent analysis. This is a result of demand outstripping supply and because of consumer preference for more expensive SUVs and trucks over less expensive passenger cars.
Car buyers in some states pay well above this average, while others pay far below. The state with the most expensive used cars (Alaska), pays $7,695 more than the state with the least expensive used cars (Indiana).
iSeeCars analyzed 8 million car sales to determine which states pay the most and least for used cars.
Used Car Prices by State
Which states pay the most for their used cars, and which states pay the least? Here are the average used car prices by state in descending order:
|Average Used Car Price By State – iSeeCars|
|Rank||State||Average Used Car Price|
|Average Used Car Price||$24,710|
- Alaska is the state with the most expensive used cars with an average used car price of $29,656. SUVs are the most common vehicle type in Alaska, accounting for 45 percent of all used vehicle purchases. Trucks are the most expensive vehicle type among Alaskan drivers, with an average price of $40,133.
- Indiana consumers pay the least for their used cars with an average used car price of $21,961. The most common vehicles in Indiana are SUVs, which have an average price of $22,640.
- Of the top 5 states with the highest used car prices, four are Western states.
- California has the highest share of sedans at 34.8 percent, and the state also has the highest average used car price for sedans at $20,406.
What does this mean for car shoppers? If you are looking for a used car in today’s market, there might be a better selection of affordable used cars in a neighboring state. Although most neighboring states have similar used car pricing, states like Wyoming and Colorado have a $4,735 difference in average used car pricing.
This article, Which States Buy the Most Expensive Cars originally appeared on iSeeCars.com.