Average Used Car Prices By State

Get Car Financing
Even with poor credit.

By

Meghan Carbary has been writing professionally for nearly 20 years. A published journalist in three states, Meghan honed her skills as a feature writer and sports editor. She has now expanded her skill-set into the automotive industry as a content writer for Auto Credit Express, where she contributes to several automotive and auto finance blogs.


, - September 14, 2021

According to a recent study, the average price of a used car between February and July 2021 was $24,710. This falls in line with trends that we've seen pre and post COVID. The average amount financed with our network of special finance dealers was $22,552 pre-covid.

Rates on the Rise

Rates for cars began climbing in 2020 after both new and used car sales took a pandemic plunge. The post-pandemic economy has done nothing so far to slow that trend. Among our network dealerships, the average amount financed had climbed to $23,844 by early 2021.

A recent study from iSeeCars looked at 8 million used auto buying experiences between February and July 2021, to find the most popular vehicles and the average cost of buying a used car across America. The average price of a used car sits at around $24,710 according to their data.

As has been the story with most of this year's vehicles, the global chip shortage is driving up the price of new cars, and leaving some would-be buyers priced out. These consumers turned their attention toward the used car market, which drove up prices there, too.

Highest and Lowest Used Car Rates

If you need to finance a used car, you're likely to want a deal, but since the average price of both new and used cars remains high, you may have to search for it. In some cases, going to a different state to purchase a used car can save you money. In some states, average used car costs are closer to the median – Rhode Island and Utah sit just above, Colorado and Oregon, just below.

Other states, however, take the cake as the most and least expensive places to purchase a used car.

The five states with the lowest average cost of a used car are:

  • Indiana – $21,961 (11.1% below the national average cost)
  • Ohio – $22,244
  • Connecticut – $22,528
  • Virginia – $22,618
  • Kentucky – $22,995

The five states that pay the most for used cars on average are:

  • Alaska – $29,656 (20% above the national average)
  • Wyoming – $29,419
  • Montana – $27,303
  • Arkansas – $27,123
  • Idaho – $26,662

Remember, even if you get a good deal on a car in another state, taxes are paid to the state the vehicle is registered in (your home state).

Could Used Car Sales Be Slowing?

According to KBB.com, there's been a drop in used car buying – sales fell to 3.1 million in July, down from 3.2 million in June of this year. Whether or not this sales slowdown signals things to come is yet to be seen. Sales may simply be declining because high prices are pushing some buyers out of the market.

If declining sales continue, it could herald a price drop in the used car market. But, so could a sudden uptick in new car production, shifting the higher-end used car buyer back to the new-car market. When used car prices do start to fall, it's likely to be a few months behind the curve of slowing sales.

Is Now the Time to Buy?

If you're looking for a used car, we want to help at CarsDirect. Our nationwide network of special finance dealers is signed up with lenders that can help borrowers in many types of credit situations. Whether you've got good credit, no credit, or past bankruptcy a special finance dealership could be just the ticket.

Sign up today with our free auto loan request form, and we'll get to work connecting you to a local dealer. Don't hesitate, get started now.

Need a Car Loan?

It only takes a minute.

Meghan Carbary has been writing professionally for nearly 20 years. A published journalist in three states, Meghan honed her skills as a feature writer and sports editor. She has now expanded her skill-set into the automotive industry as a content writer for Auto Credit Express, where she contributes to several automotive and auto finance blogs.


Search New Cars by Loan Payment »

View estimated loan payments based on local rebates and financing offers.

Loan approval is not guaranteed and is subject to credit application and approval of the lender. Individual loan terms may vary. Use of this website constitutes acceptance of CarsDirect.com's Terms of Use, Disclaimer, Privacy Policy, and Cookie Policy.

Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
COPYRIGHT 1999-2021 MH Sub I, LLC dba CarsDirect.com