Average Price of Three-Year-Old Used Cars Has Climbed Over $9,000 Since 2019, New Data Shows

New data from iSeeCars reveals that the average price of a three-year-old used car has jumped by more than 38 percent, or $9,027, since 2019. That increase has pushed the overall average cost of used cars past $30,000 for the first time since 2023, making it harder for budget-conscious buyers to find a deal.

Only 11.4 percent of three-year-old used cars are now priced below $20,000, and even expanding to five-year-old models doesn't help much: just 26.6 percent of those fall under that threshold. In 2019, nearly 70 percent of five-year-old used cars were listed below $20,000.

Luxury models saw the steepest rises. The Porsche Cayenne and 911 each jumped about 75 percent in average price for three-year-old versions between 2019 and 2026. For example, a used 2016 Cayenne averaged $50,301 back then, while a used 2023 Cayenne now averages $88,387.

9 percent. A used 2016 Elantra averaged $12,295 in 2019, but a used 2023 Elantra now averages $19,178, well above inflation, which would put the 2019 price at about $16,310 in 2026 dollars.

Only two models got cheaper: the Tesla Model X, which dropped 17 percent from $75,554 to $62,689, and the Land Rover Discovery Sport, which fell just 2.4 percent. Other models with minimal price changes include the Mazda CX-9, Tesla Model S, Range Rover Evoque, Volvo XC90, and Nissan Murano.

For buyers on a tight budget, the takeaway is to look at older model years. Five-year-old cars still offer modern safety and comfort features, and many remain affordable options for teens or safety-conscious shoppers.