New Report: States With the Highest and Lowest Used Car Price Increases

We’ve been seeing inflated prices in the vehicle market for a while now. After several months of declines, prices for used vehicles are inching up again. What are prices looking like in your state?

New data from vehicle research site iSeeCars shows the states with the greatest increases in used car prices. The site compiled the information from an analysis of more than 1.8 million used car sales in July 2022.

Let’s check out the states with the highest and lowest price increases for used cars, according to iSeeCars.

Which States Have the Highest Increase in Used Car Prices?

Rank/State	Year-Over-Year % Price Change	Year-Over-Year $ Price Change
1. South Carolina	16.8%	$5,277
2. New York	15.8%	$4,595
3. New Jersey	15.2%	$4,486
4. Connecticut	14.3%	$4,138
5. Massachusetts	14.1%	$4,176
6. Arizona	13.4%	$4,056
7. North Dakota	13.4%	$4,411
8. California	13.1%	$4,004
9. Florida	13.0%	$3,842
10. Pennsylvania	12.6%	$3,708

Which States Have the Lowest Increase in Used Car Prices?

Rank/State	Year-Over-Year % Price Change	Year-Over-Year $ Price Change
1. Oklahoma	0.8%	$278
2. Alaska	1.3%	$542
3. Rhode Island	3.4%	$1,038
4; Hawaii	5.0%	$1,562
5. Mississippi	5.1%	$1,663
6. New Mexico	5.5%	$1,788
7. Arkansas	5.6%	$1,906
8. West Virginia	5.8%	$1,885
9. Missouri	5.9%	$1,891
10. South Dakota	6.0%	$2,160

Read the complete list from iSeeCars to find your state.

Although prices may seem a bit topsy-turvy right now, money expert Clark Howard expects them to adjust for the better by year’s end or early 2023.

Aside from crazy prices, inventory issues have made getting the new car you may really want pretty difficult these days. With that in mind, Clark suggests you hold tight on buying a vehicle right now if you can.

If you absolutely must buy a vehicle, one way you may be able to get one you want is by expanding your search past your local area.

“What you do is you shop and even be willing to go farther to buy a new vehicle than you would have in the past,” Clark says.

When Clark employed this money-saving strategy to buy a car late last year, he saw price differences of more than $23,000.

What are you seeing in your state? Join the conversation in our Clark.com Community!