CARFAX used car index climbing as used vehicle inventory remains below pre-pandemic levels.
Average used car prices climbed to nearly $25,000 in recent months, representing an $1,300 increase over prices 18 months ago and the highest level since spring 2024, according to data released by CARFAX.
According to the company the data shows an unusually narrow price gap between new and used vehicles for some popular models. While three-year-old vehicles typically depreciate about 40% from their original value, CARFAX found that 2023 models of the Honda Civic sedan and several SUVs including the Ford Bronco, Kia Seltos and Toyota Corolla
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