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The average price of a used car in America was $33,582 in December 2022, according to the latest figures from vehicle research site iSeeCars.com. This is a welcome change after two years of price increases in the used car market.
In this article, we’ll look at the average price of a used car in all 50 states. We’ll also hear from money expert Clark Howard on whether you should buy a used car right now — or wait.
Here are some key findings from the report:
| State | Average Used Car Price |
|---|---|
| Vermont | $31,445 |
| New Hampshire | $31,833 |
| Ohio | $32,267 |
| Hawaii | $32,381 |
| Rhode Island | $32,789 |
| Delaware | $32,924 |
| Indiana | $32,936 |
| Connecticut | $32,991 |
| Pennsylvania | $33,097 |
| Massachusetts | $33,232 |
| New York | $33,246 |
| Maryland | $33,377 |
| Missouri | $33,596 |
| Michigan | $33,597 |
| Virginia | $33,724 |
| Maine | $33,758 |
| Minnesota | $33,758 |
| West Virginia | $33,761 |
| New Jersey | $33,936 |
| Wisconsin | $34,018 |
| Mississippi | $34,130 |
| Kentucky | $34,176 |
| Alabama | $34,206 |
| Arizona | $34,413 |
| Florida | $34,519 |
| Utah | $34,580 |
| Tennessee | $34,658 |
| North Carolina | $34,725 |
| Nevada | $34,859 |
| South Carolina | $35,015 |
| Texas | $35,061 |
| Nebraska | $35,064 |
| New Mexico | $35,189 |
| Illinois | $35,217 |
| Colorado | $35,269 |
| Kansas | $35,323 |
| Oklahoma | $35,509 |
| Oregon | $35,556 |
| Iowa | $35,750 |
| California | $35,759 |
| Louisiana | $35,893 |
| Georgia | $36,016 |
| Washington | $36,119 |
| Arkansas | $36,343 |
| Idaho | $37,092 |
| South Dakota | $37,192 |
| North Dakota | $37,773 |
| Montana | $38,943 |
| Alaska | $40,462 |
| Wyoming | $41,405 |
Read iSeeCars’ complete report for more information.
Clark is often asked whether it makes financial sense to buy a used car in this current vehicle market.
He has been steadfast in his recommendation that you should wait until car prices drop. While that’s already starting to happen to a degree, he expects some normalcy to return to the market over the months to come and into next year.
“The greatest movement in pricing has been in the used vehicle market,” says Clark. “This is really good news for your wallet because used vehicle prices at one point went up 70%! Since that peak, the prices have been going down month by month by month.”
If you absolutely need a vehicle, with used cars going for various prices in different parts of the United States, you might want to do what Clark did to find a vehicle: travel.
Clark went to great lengths — 100 miles — to find a car for his wife last year.
“Today, with the ability to buy a cheap one-way airline ticket pretty much anywhere, as far as you’re willing to drive that vehicle back to where you live, that’s your shopping market,” he says.
Doing what you can to keep your current car on the road is the best option for your wallet — even if you need to spend money on repairs.
“If the cost of the repair is half or less than the value of the car, you should always do the repair,” Clark says. “If the cost of the repair is between half and the full value of the car, and if you think the car will last for another year, you should do the repair.”
Want to save money by keeping your current car? Read about this simple vehicle maintenance schedule.
This post was last modified on April 17, 2023 2:06 pm
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