Cheap Used Cars Are Getting Harder to Find as Supply Drops 20%

If you're shopping for a used car under $15,000, you might want to act fast. These budget-friendly vehicles are becoming increasingly rare, and the ones that do show up on dealer lots are selling much quicker than the average used car in the U.S.

15 million units, or 46 days' supply. 4 million cars available in July 2022.

For buyers with a strict budget of $15,000, options are shrinking fast. 2 days' supply of used cars priced below that mark. Interestingly, this isn't because demand has surged, rather, there simply aren't enough lower-priced vehicles available. 4 percent of all used-vehicle inventory.

6 percent.

Average used vehicle prices have also climbed. For the second month in a row, the average listing price stayed above $27,000, hitting $27,028, up 6 percent from a year ago and just $12 above June's revised $27,016. In June of last year, the figure was $25,450, and through March 2026 it ranged between $25,207 and $25,973.

The biggest price jumps are for older models. Listing prices for vehicles 15 years and older rose 13.9 percent, compared to just a 3 percent increase for cars under five years old.

6 percent from June to an estimated 223,676 units, though that's barely changed from July 2025. 1 percent in June. 8 percent behind the same point in 2025.