A 3-Year-Old Car Used To Be Affordable — Now the Same Price Gets You a Car More Than Twice as Old

Gabrielle Olya

19 October 2023 at 4:00 pm·4-min read

As car inventory remains low and inflation drives prices higher, many prospective used car buyers are being forced to purchase older cars due to budget constraints. According to a new study from iSeeCars.com, buyers with a $23,000 budget could afford the average 3-year-old car in 2019, but that same amount is not enough for an average 6-year-old used car today.

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“Plant shutdowns and limited new car production during the pandemic are still playing havoc with the used car market,” Karl Brauer, executive analyst at iSeeCars.com, said on the site. “With 28% fewer 1- to 3-year-old used cars today compared to 2019, today’s buyers have to shop 6-year-old — or older — cars to find a comparably priced vehicle.”

Here’s a look at the popular used car models that buyers will have to resort to buying at 8 years old or older to pay comparable prices for the price of a 3-year-old car in 2019, as identified by iSeeCars.com.

Andrew Trahan Photography LLC / Chevrolet

Chevrolet Spark

Average 3-year-old price in 2019: $9,878
Age of car with closest average price in 2023: 9 years old
Average 9-year-old price in 2023: $9,692

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Nissan Versa

Average 3-year-old price in 2019: $10,095
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $10,148

Nissan Versa Note

Average 3-year-old price in 2019: $10,435
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $10,387

Chevrolet Sonic

Average 3-year-old price in 2019: $10,659
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $10,552

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Hyundai Accent

Average 3-year-old price in 2019: $10,464
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $10,609

Fiat 500

Average 3-year-old price in 2019: $11,766
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $11,320

Kia Forte

Average 3-year-old price in 2019: $12,031
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $11,525

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Hyundai Elantra

Average 3-year-old price in 2019: $12,222
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $11,925

Honda Fit

Average 3-year-old price in 2019: $14,575
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $14,464

Mazda 3

Average 3-year-old price in 2019: $14,497
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $14,530

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Volkswagen Golf

Average 3-year-old price in 2019: $14,876
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $14,758

Toyota Corolla

Average 3-year-old price in 2019: $14,373
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $14,788

Honda Civic

Average 3-year-old price in 2019: $16,351
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $15,460

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Toyota Camry

Average 3-year-old price in 2019: $16,570
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $16,194

Ford Mustang

Average 3-year-old price in 2019: $23,584
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $23,755

Chevrolet Corvette

Average 3-year-old price in 2019: $53,527
Age of car with closest average price in 2023: 8 years old
Average 8-year-old price in 2023: $52,759

Data is sourced from iSeeCars.com and is accurate as of Sept. 21, 2023.

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This article originally appeared on GOBankingRates.com: A 3-Year-Old Car Used To Be Affordable — Now the Same Price Gets You a Car More Than Twice as Old

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