Used cars under $20K have almost vanished from the market

Submitted ⁨⁨1⁩ ⁨week⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://www.usatoday.com/story/cars/shopping/used-cars/2025/07/25/why-affordable-used-cars-are-nearly-extinct/85372129007/

Before the COVID-19 pandemic, more than half the used cars for sale in the nation were 3-year-old vehicles priced for $20,000 or less. Today, those same type of vehicles comprise only 11% of used cars.

In fact, most shoppers who are in the market for a used vehicle would be hard-pressed to find a 3-year-old model below even $30,000, forget finding one for $20,000.

According to a new study from research website iSeeCars.com called: “The sub-$20,000 used car is almost gone,” the average list price for a used 3-year-old vehicle is now $32,635, that’s $9,476 more than it was six years ago.

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EditsHisComments@lemmy.world ⁨1⁩ ⁨week⁩ ago
The headline is very shameless clickbait. Headline should read: Majority of used cars 3yrs old or younger are selling for >$20,000.

Economic reporting suffers from many of the same issues that scientific reporting does in that the headlines are a general idea of the research, blown out of proportion at best, and misleading at worst.

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ryathal@sh.itjust.works ⁨1⁩ ⁨week⁩ ago
There’s no sub 20k used cars under 3 years old because there aren’t new cars under 30k. That’s how math works.

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BombOmOm@lemmy.world ⁨1⁩ ⁨week⁩ ago
looks at Cragslist

I see hundreds of cars in my area with a 4-digit price tag. I’m not sure where their info comes from, but cars under $10,000 (hell, they say under $20,000) most certainly have not “almost vanished from the market”

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- givesomefucks@lemmy.world ⁨1⁩ ⁨week⁩ ago
  It’s for 3 years old and newer models.
  
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Tikiporch@lemmy.world ⁨1⁩ ⁨week⁩ ago
Buy at five, sell at ten. Where did they get three years as a data point?

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Kolanaki@pawb.social ⁨1⁩ ⁨week⁩ ago
I can still regularly find used cars for $5000 or less. That still run. Perks of living in an area full of both gear and meth heads, I guess?

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