In the market for a used car? Here’s where you might find the best prices. - SILive.com

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STATEN ISLAND, N.Y. -- Looking for a great deal on a used car? You might want to look outside New York.

Over the past two years, used car prices have been on the rise due to a global microchip shortage that has slowed the production of new vehicles, subsequently increasing the demand for used vehicles and causing prices to skyrocket in what’s typically a stable market.

But not all parts of the country have been hit equally hard by the rising prices, with residents of some states paying, on average, more than $7,000 more than those living elsewhere.

A new study from iSeeCars.com, an automotive research firm, found that the average price of a new car can vary drastically based on which city or state the vehicle is purchased in.

Researchers analyzed over 8 million used car sales from February to July 2021 to figure out where drivers are currently paying the most and least for used vehicles.

“Supply and demand for certain vehicle types varies geographically, which is why used car prices vary across cities and states,” said iSeeCars Executive Analyst Karl Brauer. “States with temperate climates tend to have more lower-priced sedans, while mountainous and harsh climate areas prefer trucks and SUVs.”

Nationwide, researchers found the average price of a new car to be $24,710 across the aforementioned timespan.

New York ranked as the ninth most-expensive state to purchase a used car, with an average price of $25,693, which is 4% above the national average.

Meanwhile, New York City ranked as the 12th most-expensive city to buy a used car, with an average price of $25,189, which is 1.9% above the national average.

With that in mind, New York residents who are currently in the market for a used car, including those whose vehicles may have been totaled by flooding during recent storms, may want to consider traveling to a nearby state where used car prices are lower to make their next vehicle purchase.

These prospective buyers may want to consider traveling to New Jersey, Pennsylvania or Connecticut, where the average used car price is currently below the national average.

In New Jersey, the state with the 32nd most-expensive prices, the average price of a used car is $24,329, which is 1.5% below the national average.

In Pennsylvania, the 40th most-expensive state, researchers found the average used car price to be $23,488, which is 4.9% below the national average.

And in Connecticut, the 48th most-expensive, or third least-expensive state, the average price of a used car was $22,528, which is 8.8% below the national average.

“If you are looking for a used car in today’s market, there might be a better selection of affordable used cars in a neighboring state,” said Brauer. “Although most neighboring states have similar used car pricing, states like Wyoming and Colorado have a $4,735 difference in average used car pricing.”

Here’s a look at some of the states and cities with the most and least expensive used car prices, according to the study.

MOST-EXPENSIVE STATES

1. Alaska - $29,656 average price - 20.0% above national average
2. Wyoming - $29,419 average price - 19.1% above national average
3. Montana - $27,303 average price - 10.5% above national average
4. Arkansas - $27,123 average price - 9.8% above national average
5. Idaho - $26,662 average price - 7.9% above national average
6. Texas - $26,620 average price - 7.7% above national average
7. New Mexico - $26,261 average price - 6.3% above national average
8. Mississippi - $25,788 average price - 4.4% above national average
9. New York - $25,693 average price - 4.0% above national average
10. California - $25,555 average price - 3.4% above national average

LEAST-EXPENSIVE STATES

1. Indiana - $21,961 average price - 11.1% below national average
2. Ohio - $22,244 average price - 10.0% below national average
3. Connecticut - $22,528 average price - 8.8% below national average
4. Virginia - $22,618 average price - 8.5% below national average
5. Kentucky - $22,995 average price - 6.9% below national average
6. Iowa - $23,062 average price - 6.7% below national average
7. Minnesota - $23,120 average price - 6.4% below national average
8. Hawaii - $23,290 average price - 5.7% below national average
9. Michigan - $23,348 average price - 5.5% below national average
10. Delaware - $23,469 average price - 5.0% below national average

MOST-EXPENSIVE CITIES

1. West Palm Beach-Ft. Pierce, FL - $27,737 average price - 12.2% above national average
2. Miami-Ft. Lauderdale, FL - $27,623 average price - 11.8% above national average
3. Houston, TX - $26,964 average price - 9.1% above national average
4. Charlotte, NC - $26,448 average price - 7.0% above national average
5. Albuquerque-Santa Fe, NM - $26,433 average price - 7.0% above national average
6. Dallas-Ft. Worth, TX - $26,351 average price - 6.6% above national average
7. San Antonio, TX - $26,308 average price - 6.4% above national average
8. Austin, TX - $26,010 average price - 5.2% above national average
9. San Francisco-Oakland-San Jose, CA - $25,830 average price - 4.5% above national average
10. Los Angeles, CA - $25,782 average price - 4.3% above national average

LEAST-EXPENSIVE CITIES

1. Norfolk-Portsmouth-Newport News,VA - $21,545 average price - 12.8% below national average
2. Hartford & New Haven, CT - $21,594 average price - 12.6% below national average
3. Cincinnati, OH - $21,597 average price - 12.6% below national average
4. Indianapolis, IN - $22,011 average price - 10.9% below national average
5. Columbus, OH - $22,098 average price - 10.6% below national average
6. Cleveland-Akron (Canton), OH - $22,704 average price - 8.1% below national average
7. Grand Rapids-Kalamazoo, MI - $22,999 average price - 6.9% below national average
8. Harrisburg-Lancaster-York, PA - $23,235 average price - 6.0% below national average
9. Baltimore, MD - $23,386 average price - 5.4% below national average
10. Orlando-Daytona Beach, FL - $23,404 average price - 5.3% below national average

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