Used Car Prices Just Hit $31,624 And It Could Get Worse, But One Type Of Vehicle Is A Lot Cheaper

By Gary Gastelu |

Apr 15, 2025

Used car prices have been falling for the past two and a half years, but things just made a turn for the worse.

According to iSeeCars.com, the average transaction price for used cars that are one to five years old hit $31,624 in March, which was an increase of $317 from last year and the first time that the year-over-year figure has gone up since October 2022.

Prices were falling dramatically in early 2024 as the market recovered from vehicle shortages caused by the pandemic and supply chain issues, but started to level off last October. With the Trump administration’s new tariff policies already impacting new car deliveries and production, the effects will likely trickle down to the used car market.

“During the pandemic, new car prices spiked when automotive factories closed and production fell short of demand,” iSeeCars Executive Analyst Karl Brauer explained. “With tariffs, prices will likely increase regardless of demand, setting up a similar new car price spike that could pull used car prices up.”

One very bright spot for used car shoppers can be found in the electric vehicle segment, where the study found prices were down an average of $3,602. Prices for sedans, coupes, hatchbacks and minivans also dropped by a combined $865, while SUVs were up $1,098.

If the tariff situation doesn’t change significantly, Brauer said the average price could rise by $1,300 to $3,800 over the next six to 12 months.

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“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. We could see that pattern again in the coming year.”