Used Car Prices Rise for the First Time in 2 1/2 Years

(iSeeCars) - Used car prices saw their first year-over-year increase since October 2022, rising 1%, or $317, in March. This was before tariffs were put in place on April 3, which could lead to a further increase in both new and used car pricing. If there is a similar pattern to what happened during the pandemic when new car prices spiked 8.

2% in 8 months, popular used models could see a cost increase between $890 and $5,169.“Used car prices had been falling by as much as 7.3% in June 2024, but over the past 6 months used car prices stabilized,” said iSeeCars Executive Analyst Karl Brauer.



“Now used car prices are going up, and this is before tariffs have impacted new car pricing, which will add further upward pressure to both new and used car prices.”iSeeCars analyzed the current pricing of the most popular used models to calculate what an additional 5% and 10% price increase would be. The increase in used car prices ranged from $890 for a Kia Forte going up 5%, to $5,169 for a Chevrolet Tahoe going up 10%.

“During the pandemic, new car prices spiked when automotive factories closed and production fell short of demand,” said Brauer. “With tariffs, prices will likely increase regardless of demand, setting up a similar new car price spike that could pull used car prices up.” Used Car Pricing Stabilized in Recent Months, Before RisingThe average price of 1- to 5-year-old used cars last rose in October 2022.

Prices have been nearly flat since October 2024, but they increased $317 in March, reflecting the ongoing lack of used car supply versus demand. This imbalance will only deepen if new car pricing increases, driving more buyers into the used car market.Average Prices of 1- to 5-Year-Old Used Cars - iSeeCars StudyYear-MonthAverage Price$ Difference Year-over-year% Difference Year-over-year2025-Mar$31,624$3171.

0%2025-Feb$31,257-$239-0.8%2025-Jan$31,731-$250-0.8%2024-Dec$29,651-$365-1.

2%2024-Nov$29,934-$431-1.4%2024-Oct$30,914-$288-0.9%2024-Sep$30,572-$849-2.

7%2024-Aug$30,228-$1,509-4.8%2024-Jul$30,420-$2,064-6.4%2024-Jun$30,673-$2,406-7.

3%2024-May$31,368-$2,184-6.5%2024-Apr$31,341-$1,865-5.6%Electric Vehicle Prices Continue to Fall Even as Overall Used Car Prices RiseElectric vehicle prices are still falling, losing $3,602 in the past year.

This is in stark contrast to SUV prices going up over $1,000 and truck prices rising $337.Used 1- to 5-Year-Old Car Pricing for Notable Segments, March 2025SegmentAverage Price$ Difference Year-over-year% Difference Year-over-yearOverall Used Cars$31,624$3171.0%Trucks$38,443$3370.

9%SUVs$32,358$1,0983.5%Passenger Cars and Minivans$26,400-$865-3.2%Hybrids$30,499$2250.

7%EVs$32,107-$3,602-10.1%“Buyers seeking a used car bargain can still find lower prices on cars and minivans compared to a year ago, while EVs are down over $3,600,” said Brauer.Pandemic 2.

0? What a Repeat of Higher New Car Prices Could Mean for Used Car PricesWith used car prices rising even before tariffs were introduced, the pattern for new and used car prices could look a lot like it did at the start of the pandemic. Prices for used cars rose 8.2% between March 2020 and November 2020, as restricted new car supply drove many buyers into the used market.

What would a similar 5% to 10% bump look like based on today’s used car prices?Pricing and Projected Price Increases for Notable Segments of 1- to 5-Year-Old Used Cars – iSeeCars StudySegmentAverage Price March 20255% Premium10% PremiumOverall Used Cars$31,624$1,581$3,162EVs$32,107$1,605$3,211Hybrids$30,499$1,525$3,050Trucks$38,443$1,922$3,844SUVs$32,358$1,618$3,236Passenger Cars + Minivans$26,400$1,320$2,640“A price bump between $1,300 and $3,800, depending on vehicle segment, is probably not what the average used car shopper wants to face over the next 6 to 12 months, but it's a definite possibility if new car pricing rises,” said Brauer.What Does a 5% or 10% Price Increase Mean for the Most Popular Used Models?Below are the 30 top-selling used models and the impact on pricing if they see a 5% or 10% price hike.Pricing and Projected Price Increase Scenarios for Popular 1- to 5-Year-Old Used Cars – iSeeCars StudyModelAvg Price March 20255% Premium10% PremiumChevrolet Tahoe$51,691$2,585$5,169GMC Sierra 1500$47,184$2,359$4,718Ford F-150$41,483$2,074$4,148Chevrolet Silverado 1500$39,504$1,975$3,950Ram 1500$38,784$1,939$3,878Toyota Highlander$36,035$1,802$3,603Toyota Tacoma$35,496$1,775$3,550Overall Used Cars$31,624$1,581$3,162Ford Explorer$31,046$1,552$3,105Jeep Grand Cherokee$30,186$1,509$3,019Toyota RAV4$28,509$1,425$2,851Honda CR-V$27,793$1,390$2,779Chrysler Pacifica$25,464$1,273$2,546Mazda CX-5$25,222$1,261$2,522Honda Accord$25,013$1,251$2,501Ford Edge$24,898$1,245$2,490Hyundai Santa Fe$24,629$1,231$2,463GMC Terrain$24,563$1,228$2,456Toyota Camry$24,484$1,224$2,448Honda Civic$23,265$1,163$2,327Kia Sportage$23,172$1,159$2,317Hyundai Tucson$23,034$1,152$2,303Nissan Rogue$22,755$1,138$2,275Ford Escape$22,327$1,116$2,233Jeep Compass$21,961$1,098$2,196Chevrolet Equinox$21,631$1,082$2,163Nissan Altima$20,177$1,009$2,018Toyota Corolla$19,881$994$1,988Chevrolet Malibu$18,370$918$1,837Nissan Sentra$18,167$908$1,817Kia Forte$17,803$890$1,780“With the pandemic-induced spike in new and used car pricing still fresh in consumers’ minds, buyers already know the frustration of higher automotive costs and lower affordability,” said Brauer.

“We could see that pattern again in the coming year.”More from iSeeCars.com:Cars that Hold Their Value the BestMost Reliable Used CarsBest and Worst Times to Buy a CarMethodologyiSeeCars analyzed over 1.

4 million 1- to 5-year-old used cars sold in March 2024 and 2025. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as both a percentage difference from the 2024 price as well as a dollar difference. Additionally, the number of days each car was listed on iSeeCars.

com was also mathematically modeled and aggregated. Heavy-duty vehicles, low-volume vehicles, vehicles discontinued as of the 2024 model year, and vehicles in production for fewer than four of the last five model years for each period were excluded from further analysis.About iSeeCars.

comiSeeCars.com is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, including the iSeeCars VIN Check report and Best Cars Rankings. iSeeCars has saved users over $434 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, Used Car Prices Fall for the First Time in 2.5 Years, originally appeared on iSeeCars.com.

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