Used car prices soar as affordable options disappear
Used car prices have soared 41% since 2019. See why $15,000 cars are disappearing fast.
- Average prices for both new and used cars are nearing record highs.
- Used cars are becoming more valuable because new cars are depreciating faster than before.
- It is expected that a large number of 2023 model cars will be on the used market in 2026.
Average prices for new and used cars are near all-time highs, and many car buyers are searching high and low for a bargain.
The standard price for a three-year-old used car in the first quarter of 2026 was $31,548, the second-highest quarterly average price on record, Edmunds said.
The findings come after Kelley Blue Book reported that the average price of a new car in April was $49,461, an increase of 1.8% from the same month last year.
“The long-standing debate about whether the new or used car market offers shoppers better value has officially taken a new turn as residual values trend back to pre-pandemic norms,” Edmunds Director of Insights Ivan Drury said in a used car analysis.
Drury said used cars are starting to become more valuable to buy cars because new car values are falling faster than before.
Drury also said 2026 is likely to see a large number of 2023 model year cars with leases ending, including a number of hybrid and electric vehicles that were touted when the federal government previously offered tax credits for those models.
“A surge in off-lease availability is predicted this year, driven in part by an increase of 500,000 units, or 25.7%, compared to 2025,” Drury wrote. “Used EVs in particular are an outstanding deal and should see significant inventory growth through the remainder of 2026.” The USA TODAY Cars team looked at Edmunds’ list of the top-selling vehicle models coming off lease and that should soon be in used car showrooms.
1. Nissan Rogue
Original starting price: $35,500
Average used price in Q1 2026: $21,496
what they saidNissan said on its website, “When the unplanned becomes the plan, the Nissan Rogue will volunteer to be your partner. So load up the family, pack your gear, plug everyone in, and rev up the VC Turbo. Rogue is ready to tackle the moments that matter most – the ones you never saw coming.”
2.Honda CR-V
Original starting price: $36,127
Average used price in Q1 2026: $28,953
what they saidHonda said in a press release, “CR-V was originally an abbreviation for “Comfortable Runabout Vehicle.” Based on the concept of the “Creative Mover” series that supports people in creating a more enjoyable lifestyle, the CR-V was developed as an innovative SUV model that pioneers a new genre of “urban SUV” with excellent comfort and drivability.”
3. Ram 1500
Original starting price: $62,118
Average used price in Q1 2026: $39,559
what they said: Ram said in a press release, “The Ram 1500 lineup has transitioned to six-cylinder engines for the 2025 model year. Consumer sentiment for the legendary engine has created momentum to bring the 5.7-liter HEMI V-8 back to the Ram 1500.”
4. Chevrolet Equinox
Original starting price: $32,747
Average used price in Q1 2026: $20,851
what they said: General Motors, which owns the Chevrolet brand, said on its website, “The 2026 Equinox stands out with a bold grille and sophisticated taillights. The sporty RS and adventure-ready ACTIV complement a variety of lifestyles, making the Equinox one of the most exciting SUVs to drive.”
5. Jeep Wrangler 4xe
Original starting price: $64,112
Average used price in Q1 2026: $29,505
what they saidStellantis, which owns the Jeep brand, said in a press release that the Wrangler 4XE offers “34 miles of pure electric operation for most daily commutes and trails.”
6.Chevrolet Silverado
Original starting price: $64,112
Average used price in Q1 2026: $29,505
what they saidStellantis, which owns the Jeep brand, said in a press release that the Wrangler 4XE offers “34 miles of pure electric operation for most daily commutes and trails.”
7. Honda Civic
Original starting price: $27,374
Average used price in Q1 2026: $23,249
what they said:Honda says on its website, “Impressive.” 50 cities/47 highways With an mpg-rated, 200-horsepower hybrid powertrain, the sporty Civic sedan blends efficiency and excitement with powerful hybrid performance. ”
8. Ford F-150
Original starting price: $64,510
Average used price in Q1 2026: $42,523
what they said: Ford said in a press release that the F-150 is “an important part of the Ford F-Series, which has been America’s best-selling truck for 46 years.”
9.Honda HR-V
Original starting price: $27,862
Average used price in Q1 2026: $22,941
what they said“The Honda HR-V is already America’s most popular SUV among first-time buyers and Gen Z, and we take that leadership to another level with stylish design upgrades and enhanced standard technology features,” Honda said in a press release.
10. Jeep Grand Cherokee
Original starting price: $53,361
Average used price in Q1 2026: $30,353
what they said: Stellantis, which owns the Jeep brand, said in a press release that the Grand Cherokee is “America’s most awarded SUV.”
