Here’s how much used car prices have gone up in each state

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Used car prices have gone up in every state, but not at the same rates. (Photo: Getty Images)

(iSeeCars) – The global microchip shortage has drastically impacted the automotive industry. Nearly every major automaker has been forced to idle production, which has led to a dramatic reduction in new car inventory. As a result, demand for used cars has soared, and prices for used cars have risen proportionately.

How much have used car prices gone up? According to iSeeCars.com’s latest analysis of over 1.2 million used car sales, used car prices have increased 16.8 percent, or $3,926, compared to the same period the previous year. This is compared to a 0.2 percent increase in 2020 over 2019. 

Used Car Price Increases by State

Are used car price increases consistent across the country? Here are the average used car price increases by state:

Used Car Price Increases by State
Rank StateYear-Over-Year % Price ChangeYear-Over-Year $ Price Change
1Vermont10.7%$2,717
2New Jersey11.1%$2,580
3West Virginia11.8%$2,910
4Nebraska12.1%$2,968
5Wisconsin12.3%$3,026
6Minnesota12.4%$2,945
7Iowa12.7%$3,135
8Hawaii13.3%$3,391
9New York13.7%$3,126
10New Hampshire13.8%$3,106
11Massachusetts14.1%$3,188
12Indiana14.1%$3,247
13Connecticut14.2%$3,000
14Pennsylvania14.3%$3,214
15New Mexico14.4%$3,444
16Colorado14.6%$3,554
17North Dakota14.9%$4,062
18Illinois14.9%$3,575
19Idaho15.0%$4,067
20Oklahoma15.9%$3,895
21Texas16.0%$3,890
22Mississippi16.1%$3,892
23Louisiana16.6%$3,883
24North Carolina16.7%$3,882
25Kansas16.8%$3,950
26Maine 16.8%$3,977
National Average16.8%$3,926
27Delaware 17.3%$3,652
28Virginia17.3%$3,883
29Michigan17.7%$4,051
30South Dakota18.1%$4,998
31Kentucky18.3%$4,196
32Missouri18.4%$4,338
33South Carolina18.5%$4,283
34Alabama18.5%$4,304
35California18.7%$4,296
36Maryland19.1%$4,142
37Florida19.2%$4,224
38Ohio19.2%$4,102
39Alaska19.3%$5,907
40Washington 19.4%$4,664
41Tennessee 19.4%$4,539
42Wyoming 19.6%$6,173
43Oregon 20.2%$4,738
44Arkansas 20.4%$4,994
45Arizona 20.5%$4,600
46Utah 21.0%$4,729
47Montana 21.8%$5,926
48Georgia 22.2%$5,100
49Nevada 22.3%$4,852
50Rhode Island 25.5%$5,559
  • iSeeCars used car pricing analysis shows that consumers may be able to get a better used car deal by crossing state lines.
  • Rhode Island is the state with the greatest used car price increase in 2021 compared to 2020 at 25.5 percent, which amounts to $5,559.
  • Another New England state, Vermont, has the smallest used car price increase at 10.7 percent, which amounts to $2,717.
  • Of the top 10 states with the lowest price increases, five are Eastern states and four are in the Midwest.
  • Of the 10 states with the highest price increases, six are Western states, and four are Eastern.

What does this mean for consumers? The rise in used car prices presents lucrative trade-in opportunities for consumers who can get rid of a vehicle entirely or who are willing to trade one in for a less in-demand vehicle. For example, selling a pickup truck or trading in a large SUV for a smaller one can leave consumers with extra cash in their pockets. For shoppers who are in the market for a used car, not all vehicles have had significant price increases. Many small SUVs, hatchbacks, and sedans can be found in the used car marketplace that won’t give consumers sticker shock. And for used car shoppers who are willing to travel, you may find a better deal on a used car in a nearby state. A full list of the best and worst used cars to buy right now can be found in iSeeCars detailed analysis of used car prices.  

More from iSeeCars.com:

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports. iSeeCars.com has saved users over $282 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.

This article, Here’s How Much Used Car Prices Have Gone Up in Each State, originally appeared on iSeeCars.com.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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