The used car to avoid buying right now in every state

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(AP Photo/David Zalubowski, File)

(iSeeCars) – Used car prices have hit record highs in the past 15 months due to the global shortage of microchips. According to iSeeCars.com’s recent analysis of over 1.7 million used car sales in February, used car prices are up 34.1%, or $8,668, over the same period. the previous year.

Some used car prices have risen more than others due to increased demand and limited inventory. Here are the used cars that saw the biggest price increases in each state:

Used Cars with the Largest Price Increases by State – iSeeCars
State Vehicle % Used price More than new $ Used price Less than new
Alabama Hyundai Sonata 50.8% $8,313
Alaska Ford Escape 39.2% $7,743
Arizona Kia Forte 55.4% $7,024
Arkansas Toyota Corolla 46.3% $7,111
California Kia Forte 54.6% $7,135
Colorado Toyota Corolla 47.4% $6,781
Connecticut Kia Forte 55.1% $7,040
Delaware Chevrolet Equinox 42.2% $7,902
Florida Kia Forte 52.4% $6,479
Georgia Nissan Versa 49.2% $5,732
Hawaii Kia Forte 49.0% $7,192
Idaho Ford Escape 36.1% $6,791
Illinois Kia Forte 53.8% $6,643
Indiana Kia Forte 55.1% $7,402
Iowa Nissan Rogue 43.6% $8,247
Kansas Nissan Sentras 43.9% $5,820
Kentucky Nissan Sentras 48.9% $6,262
Louisiana Hyundai Sonata 48.9% $7,805
Maine Nissan Rogue 39.2% $7,501
Maryland Kia Forte 51.6% $6,683
Massachusetts Kia Forte 54.2% $7,265
Michigan Kia Soul 51.7% $6,695
Minnesota Toyota Corolla 48.0% $6,704
Mississippi Nissan Sentras 44.1% $6,041
Missouri Kia Forte 53.2% $6,709
Montana Nissan Rogue 44.2% $9,102
Nebraska Nissan Altima 46.0% $7,257
Nevada Hyundai Sonata 49.3% $7,795
New Hampshire Nissan Sentras 48.5% $6,231
New Jersey Kia Forte 61.0% $7,750
New Mexico Hyundai Elantra 46.8% $6,806
new York Kia Forte 53.7% $6,932
North Carolina Acura RDX 52.7% $13,241
North Dakota Toyota RAV4 40.8% $9,031
Ohio Kia Forte 54.0% $6,949
Oklahoma Nissan Sentras 50.0% $6,480
Oregon Kia Forte 48.3% $6,603
Pennsylvania Kia Forte 56.6% $7,211
Rhode Island Nissan Rogue 46.3% $8,992
Caroline from the south Kia Forte 53.5% $7,128
South Dakota Nissan Rogue 47.7% $9,083
Tennessee Nissan Versa 49.9% $5,880
Texas Volvo XC60 50.8% $14,523
Utah Honda-Civic 45.7% $7,574
Vermont Toyota Corolla 49.3% $7,377
Virginia Kia Forte 50.8% $6,867
Washington Kia Soul 49.4% $6,924
West Virginia Ford Escape 42.3% $7,697
Wisconsin Nissan Sentras 46.6% $6,126
Wyoming Ford Escape 37.2% $7,479
  • The Kia Forte subcompact car, which is among the most affordable new cars on the market, has the highest price increase in most states with 17.
  • The vehicle with the highest price increase across all states is the Kia Forte in New Jersey with a 61.0% increase.
  • Small cars, including sedans and compact and subcompact hatchbacks, make up 31 vehicles on the list.

What does this mean for consumers?

While consumers were previously advised to wait to buy a used car if they were able to, the microchip shortage is expected to persist for at least a year longer than originally expected. The only way to avoid steep price increases in the foreseeable future is to buy a used vehicle that is not in high demand and avoid vehicles that are rising in price the most. However, consumers who own one of these vehicles could earn a high profit if they wish to trade in their car.

More on iSeeCars.com:

Methodology

iSeeCars.com analyzed over 1.7 million 1-5 year old used car sales in February 2021 and 2022. The average listing prices for each car model were compared between the two periods, and the differences were expressed both as a percentage difference from the 2021 price as well as a difference in dollars. Heavy-duty vehicles, low-volume vehicles, discontinued vehicles from model year 2022, and vehicles with less than 4 out of 5 model years for each time period were excluded from further analysis.

About iSeeCars.com

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key information and valuable resources, like iSeeCars’ free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $328 million so far by applying big data analytics powered by over 25 billion data points (and growing) and using proprietary algorithms to analyze , rate and objectively classify millions of new and used cars.

This article, the used car to avoid buying right now in every stateoriginally appeared on iSeeCars.com.

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