If you’re shopping for a relatively modern used car with a $20,000 budget—good luck. Even looking at online listings, you've probably already noticed that your money isn’t going nearly as far as it used to, and a new study proves that that is indeed the case.
According to iSeeCars, the average three-year-old used car now costs $32,651. The study analyzed more than 11.4 million used vehicles sold between 2019 and 2026. That’s up $9,027, or 38.2 percent, from the $23,624 average in 2019.
But the bigger problem is how quickly the supply of affordable late-model cars has disappeared.
Hyundai Elantra
Photo by: Hyundai
