Last week we shared a study from iSeeCars showing a drop in overall used car prices in the last two months of 2022.
This week we again turn to iSeeCars for more analysis. Its researchers say used car prices finally appear to be on their way down after year-over-year price increases for the past two years - a result of the global microchip shortage. According to a recent iSeeCars.com analysis of over 1.9 million used car sales, average used car prices dropped 3.0 percent in December 2022 compared to December 2021.
While the overall picture is looking rosier for car buyers looking to buy used, that doesn't mean all used cars are dropping in price. In fact, some have actually increased in price.
Below you'll find the used cars with the greatest price increases listed state, according to iSeeCars. Hybrid and electric cars account for 22 vehicles on the list. The vehicle with the highest year-over-year price increase is a tie between the Chevy Bolt and Toyota RAV4 Hybrid - in seven states.
If you live in Texas, Oregon or Maryland, you'll likely want to avoid a used Nissan LEAF EV, the used vehicle with the largest price increase year-over-year. In California, the Porsche 911 sees the priciest increase. In Georgia, it's the Lexus ES 300h. In Ohio, the Chevrolet Bolt EV. In Colorado, it's the MINI Cooper Clubman. If you're in Louisiana, it's the Audi Q3. For those of you in Montana, the Toyota Corolla is the used car with the biggest price increase.
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Used Cars With the Greatest Price Increases By State - iSeeCars |
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|
State |
Car with Largest Year-over-year Price Increase |
% Diff |
$ Diff |
|
Alabama |
Mitsubishi Mirage G4 |
23.0% |
$3,265 |
|
Alaska |
5.2% |
$1,346 |
|
|
Arizona |
26.5% |
$9,794 |
|
|
Arkansas |
Chevrolet Corvette |
12.5% |
$9,313 |
|
California |
Porsche 911 |
24.8% |
$39,617 |
|
Colorado |
MINI Cooper Clubman |
32.7% |
$8,018 |
|
Connecticut |
Audi Q3 |
21.1% |
$5,930 |
|
Delaware |
Lexus ES 350 |
17.6% |
$5,958 |
|
Florida |
Chevrolet Bolt EV |
27.5% |
$6,104 |
|
Georgia |
28.7% |
$9,881 |
|
|
Hawaii |
Nissan Rogue |
5.8% |
$1,603 |
|
Idaho |
11.5% |
$3,982 |
|
|
Illinois |
Porsche 911 |
37.3% |
$55,381 |
|
Indiana |
BMW 7 Series |
66.0% |
$39,335 |
|
Iowa |
12.4% |
$4,012 |
|
|
Kansas |
12.4% |
$4,297 |
|
|
Kentucky |
17.4% |
$5,547 |
|
|
Louisiana |
Audi Q3 |
21.7% |
$6,336 |
|
Maine |
Subaru Impreza |
9.8% |
$2,035 |
|
Maryland |
Nissan LEAF |
19.7% |
$4,718 |
|
Massachusetts |
Chevrolet Bolt EV |
38.9% |
$7,904 |
|
Michigan |
Chevrolet Bolt EV |
31.6% |
$6,465 |
|
Minnesota |
22.1% |
$6,753 |
|
|
Mississippi |
Acura MDX |
8.8% |
$3,560 |
|
Missouri |
Mitsubishi Mirage G4 |
15.5% |
$1,952 |
|
Montana |
Toyota Corolla |
8.9% |
$1,726 |
|
Nebraska |
Honda Civic |
11.3% |
$2,566 |
|
Nevada |
11.8% |
$4,158 |
|
|
New Hampshire |
13.6% |
$4,424 |
|
|
New Jersey |
Nissan LEAF |
33.2% |
$7,086 |
|
New Mexico |
Honda Civic |
7.9% |
$1,944 |
|
New York |
Chevrolet Bolt EV |
32.0% |
$6,933 |
|
North Carolina |
Nissan LEAF |
37.1% |
$8,569 |
|
North Dakota |
Cadillac Escalade |
11.8% |
$8,755 |
|
Ohio |
Chevrolet Bolt EV |
29.2% |
$6,285 |
|
Oklahoma |
Cadillac Escalade |
11.7% |
$9,010 |
|
Oregon |
Nissan LEAF |
33.2% |
$7,779 |
|
Pennsylvania |
Porsche 911 |
22.6% |
$33,266 |
|
Rhode Island |
BMW 3 Series |
12.5% |
$4,167 |
|
South Carolina |
Lexus ES 350 |
12.5% |
$4,478 |
|
South Dakota |
Honda Civic |
9.3% |
$2,004 |
|
Tennessee |
Chevrolet Bolt EV |
32.8% |
$7,265 |
|
Texas |
Nissan LEAF |
32.4% |
$6,940 |
|
Utah |
Audi Q3 |
18.8% |
$5,385 |
|
Vermont |
Toyota RAV4 Hybrid |
14.0% |
$4,336 |
|
Virginia |
BMW 4 Series |
32.0% |
$10,485 |
|
Washington |
Nissan LEAF |
32.5% |
$7,387 |
|
West Virginia |
Mercedes-Benz GLE |
11.0% |
$5,885 |
|
Wisconsin |
Chevrolet Bolt EV |
31.9% |
$7,183 |
|
Wyoming |
Toyota Camry |
6.8% |
$1,841 |
To read more visit the iSeeCars.com website.