The Average Price of a Used Car in 2015 Could Soar to $18,000

Almost all of us have had to decide between a new or used car at one point in lives. Last year, the average price soared to $16,800. This year, the price could approach $18,000. Leaving us to evaluate options for shoppers looking for vehicles that hit the magic $20k price point.

But why is the average price of a used car continuing to rise? One of the main reasons is the growing popularity of Certified Pre-Owned (CPO) vehicles, which account for roughly 20% of the used car market. These CPOs often find their way to dealer lots in better than average condition. Dealer service bays take time and use their expertise to clean up and recondition these cars to like-new condition. That being said, there's a premium for that re-conditioning and it behooves the buyer to research before they buy, especially if a new car only costs $2,000 more than a used car.

We're here to help shoppers do one thing: make an informed buying decision.

Best 2015 Sedans Under $20,000

1. 2015 Toyota Corolla $17,775

2. 2015 Subaru Impreza (Sedan) $18,990

3. 2015 Ford Focus $17,995

4. 2015 Honda Civic $19,310

4. 2015 Volkswagen Jetta $19,815

Best 2015 Crossovers Under $20,000

1. 2015 Mitsubishi Outlander Sport $20,445*

2. 2015 Jeep Compass $19,990

3. 2015 Kia Soul $16,015

4. 2015 Scion xB $17,890

5. 2015 Dodge Journey $21,290*

Best 2015 Most Fuel Efficient Cars Under $20,000

1. 2015 Mitsubishi Mirage $13,790

2. 2015 Scion iQ $16,435

3. 2015 smart fortwo $14,020

4. 2015 Honda Fit LX $16,470

5. 2015 Nissan Sentra FE+ S $18,555

Best 2015 Hatchbacks Under $20,000

1. 2015 Volkswagen Golf Launch Edition $18,815

2. 2015 Ford Focus SE $19,785

3. 2015 Mazda Mazda3 i-Sport $17,765

4. 2015 Honda Fit LX $16,470

5. 2015 Subaru Impreza 2.0i (Hatchback) $19,490

*Note that this is before incentives, which in most major markets will combine to lower the price under $20k. To see the latest deals in your region, see our new Deals & Incentives page.