There was a glimmer of hope less than a year ago when used car prices started falling. While they remained high above pre-pandemic levels, prices were on a downward trend.
However, over the last several months, used car prices have increased once again. The average price of a one- to five-year-old used car is now 3.7 percent more in July 2025 than it was in July 2024.
According to a new iSeeCars study, prices have been increasing since March, rising 1.0 percent year-over-year for that month. They jumped by 1.8, 2.9, and 4.8 percent in April, May, and June, respectively, after having steadily declined for two and a half years. Comparitively, used car prices decreased by 4.8 percent in August 2024 compared to August 2023, with the average used car costing just $30,228.
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