Less than a year ago, we reported that new cars under $20,000 had gone extinct. According to a study by iSeeCars that analyzed over 2.6 million three-year-old used cars, the few remaining used alternatives appear to be well on their way to joining them. While nearly half of all three-year-old cars cost less than $20,000 in 2019, only 11.5% remain at that price point today.
Several popular used models priced under $20,000 in 2019 have now crossed that threshold. These include the Honda Civic, Toyota Camry, Nissan Rogue, Chevy Equinox, Kia Sportage, and Honda HR-V. Of the 20 most popular used models, the Chevy Trax, Toyota Corolla, and Nissan Sentra are the only ones that wholly remain under $20,000. Even that might not last long, as used Sentras increased from an average price of $12,504 in 2019 to $18,224 in 2025. Its 45.7% change was the most of any of these models, and could shoot above $20,000 soon if market trends continue. Even the Corolla barely still qualifies, with an average price of $19,792 for a three-year-old model in 2025. This forces buyers with low budgets to look for even older cars than before. It’s a good thing getting a car to last 200,000 miles or more is easier than ever these days.
Passenger cars are king
Although SUVs and trucks are more popular than passenger cars, it is passenger cars that have seen the most significant price increase since 2019. Back then, 70.7% of three-year-old cars cost less than $20,000. Today, just 28.1% fall into this bottom-tier price range. The average price of a three-year-old car increased from $19,734 in 2019 to $29,343 in 2025, an increase of 48.7% in just six years. In contrast, the price of the average used truck rose 28.8% in the same time period, while used SUV prices went up 15.4%.
Perhaps passenger cars are appreciating much more rapidly than trucks and SUVs simply because there are far fewer cars than there used to be. Ford killed its cars a while back, except the Mustang, of course. Chevy stopped building its last sedan, the Malibu, in November 2024. The Nissan Altima and Versa are on their way out, and the manual Versa, formerly the least expensive car in the U.S., has already been discontinued. Short supply means greater demand for those few that are left, which drives prices up. We like sedans, but they appear to be going the way of the dodo, along with the sub-$20,000 vehicle in general.
