(iSeeCars) – Used car prices have fallen from record highs, but they are still significantly higher than a year ago due to the continued shortage of microchips. Limited inventory of new cars has increased demand for used cars, and with fewer people trading used cars to buy new ones, used cars remain scarce and fetch higher prices.
Price-conscious used car buyers who are willing to travel can increase their chances of finding a good bargain due to regional used car price differences. “If you look at the most popular cars on the market, used car prices can vary by as much as $14,166 between cities,” said Karl Brauer, executive analyst at iSeeCars. “In today’s market, used car deals are hard to come by, and even after purchasing a plane ticket or road trip, consumers may find that the trip to buy a used car in another state is worth the significant savings.”
iSeeCars analyzed the used car prices of the 25 most popular cars to identify the cities where they are most expensive and cheapest.
Used cars with the largest price differences between the most expensive and cheapest cities
When examining the local prices of the most popular cars, the vehicles with the largest price differences showed at least a 22 percent price difference between the cheapest and the most expensive cities.
|Popular used cars with the largest price differences in the US – iSeeCars study|
|rank||vehicle||Cheapest city to buy the car||The most expensive city to buy the car||% savings||$ savings|
|1||Nissan villain||San Antonio, Texas||Fairbanks, AK||32.4%||$10,738|
|2||Jeep Grand Cherokee||Baton Rouge, LA||Fairbanks, AK||27.8%||$13,152|
|3||Ford F-150||Zanesville, OH||Glendive, Mt||26.8%||$14,166|
|4||Honda Civic||Lincoln & Hastings-Kearney, NE||Harlingen-Weslaco-McAllen, TX||26.7%||$8,514|
|5||Ford escape||Fresno-Visalia, CA||Alpena, MI||26.4%||$7,599|
|6||Ford Explorer||Lafayette, IN||Fairbanks, AK||25.8%||$11,103|
|7||Subaru Forester||Duluth, MN – Superior, WI||Columbus-Tupelo-West Point, MS||23.5%||$7,889|
|8th||Toyota Tacoma||Miami-Ft. Lauderdale, FL||Anchorage, Ak||23.5%||$10,394|
|9||GMC Sierra 1500||Marquette, MI||Casper-Riverton, WY||22.5%||$12,144|
|10||Aries 1500||Lafayette, IN||Anchorage, Ak||22.0%||$10,701|
The Nissan Rogue is the vehicle with the largest price difference between the most expensive and cheapest cities. “A used Nissan Rogue costs 32.4 percent or $10,738 less in San Antonio, Texas than in Fairbanks, Alaska,” Brauer said. “Even though these cities are nearly 4,000 miles apart, you could still save a significant amount of money even after shipping costs, which would likely be less than $5,000.”
The Subaru Forester offers the biggest savings with the shortest distance between its most expensive city and its cheapest city. “Shoppers in the greater Duluth area can drive 17 hours to save nearly $8,000,” Brauer said. “Even if you factor in round-trip gasoline, which would cost about $300, hotel expenses of about $150 per night, or even a plane ticket for a one-way trip for under $500, a trip to the Buying this vehicle will bring significant savings.”
Best cities to buy popular used cars at the lowest prices
iSeeCars found which cities offer the biggest savings on the most popular used cars compared to the national average.
|Cities with the best prices for popular used cars – iSeeCars study|
|rank||vehicle||Cheapest city to buy the car||Local used car price||National Used Car Award||% savings||$ savings|
|1||Honda Civic||Lincoln & Hastings-Kearney, NE||$23,375||$28,169||17.0%||$4,794|
|2||GMC Sierra 1500||Marquette, MI||$41,886||$48,300||13.3%||$6,414|
|3||Subaru Forester||Duluth, MN – Superior, WI||$25,648||$29,353||12.6%||$3,705|
|4||Aries 1500||Lafayette, IN||$37,890||$43,302||12.5%||$5,411|
|5||Nissan villain||San Antonio, Texas||$22,372||$25,353||11.8%||$2,981|
|6||Ford escape||Fresno-Visalia, CA||$21,147||$23,952||11.7%||$2,805|
|7||Jeep Wrangler||Springfield-Holyoke, MA||$32,211||$36,359||11.4%||$4,148|
|8th||Toyota Tacoma||Miami-Ft. Lauderdale, FL||$33,880||$38,155||11.2%||$4,275|
|9||Hyundai Tucson||Elmira, New York||$22,412||$25,126||10.8%||$2,714|
|10||Chevrolet Silverado 1500||St. Joseph, MO||$37,745||$42,242||10.6%||$4,496|
Honda Civics in the Lincoln, Nebraska metro area are typically 17 percent less than the national average, saving $4,794. “The best places to buy popular used cars are across the country,” Brauer said. “Even if car buyers find a deal in their area, it pays to compare in other areas to find an even better deal.”
It can be difficult to find a deal on a used car in today’s market, but expanding your search radius can give consumers the best chance of finding more savings. “Even if you can’t travel into the city with the biggest savings on your car, you’ll likely find bigger savings outside of your area that make the trip worthwhile,” Brauer said.
iSeeCars.com analyzed over 1.3 million 1-5 year old used cars of the best selling models sold between January and April 2022. The average asking price for each model in each DMA was calculated and the highest and lowest prices were compared to each other and to the national average price. Low-stock model-city combinations were excluded from the analysis.
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iSeeCars.com is a car search engine that helps buyers find the best car deals by providing essential insights and valuable resources like the iSeeCars VIN Test Reports and Best Cars Ranking. iSeeCars.com has saved users over $337 million to date by applying big data analytics with over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, value, millions of new and used cars and classify.
This article, The most expensive and cheapest cities to buy a used caroriginally appeared on iSeeCars.com.