If you're looking for a used car under $20,000, we have some bad news. They are getting harder and harder to come by. In fact, according to iSeeCars, the sub-$20K used car is almost gone. Today, just over 10 percent of all three-year-old used cars fall into that category. Back in 2019, it was almost 50 percent.
In its new study, iSeeCars attributes the decrease in used cars under $20,000 to the restricted new-car production during the pandemic from 2020-2022, which has led to fewer used cars and substantially higher used car prices. In 2025, consumers are paying $9,500 more for a 3-year-old used car, compared to pre-pandemic pricing.
"With used car prices rising for the last three months as I have been telling you from watching auctions, there’s no indication prices will drop anytime soon," said Car Pro Show host Jerry Reynolds.
According to new data shared by iSeeCars researchers:
- The average price of 3-year-old used cars has increased 40.9% since the pandemic, from $23,159 in 2019 to $32,635 in 2025
- Used cars priced under $20,000 made up 49.3% of the 3-year-old market in 2019, compared to 11.5% of the market today
- Passenger cars saw the biggest price increase since 2019, up 48.7%, with truck prices up 28.8% and SUVs up 15.4%
- In 2019, 42.9% of 3-year-old Honda CR-Vs and 44.3% of Toyota RAV4s cost less than $20,000; in 2025 those numbers have dropped to almost zero
- Best-selling 3-year-old used models that are no longer available for under $20,000 include the Chevrolet Equinox, Honda Civic, Kia Sportage, Nissan Rogue, Toyota Camry, and Toyota Corolla
iSeeCars says it analyzed over 2.6 million 3-year-old used cars and found the average used car now costs $32,635. That is a $9,476 price increase over the last six years compared to the average price of $23,159 in 2019.
You'll find a lot more good information on this topic here.
Editorial credit: Jonathan Weiss / Shutterstock.com
