CARFAX: Highest Used Car Prices In 18 Months - Some Older Models Close in Price To New Models

New data from CARFAX shows that average Used Car Prices have climbed to their highest point in 18 months to just under $25,000. That means car shoppers around this time are paying around $1,300 more for the average used vehicle than they would have just a year and a half ago.

Notably, the price gap between new and used cars is unusually narrow for some models.

Typically, a three-year-old car would have lost about 40% of its value. But CARFAX data shows that some popular vehicles like the Honda Civic sedan and Ford Bronco, Kia Seltos, and Toyota Corolla Cross SUVs now have 2023 models priced within roughly 10% of their new 2025 counterparts.

"It's rare for used and new car values to be this close," said Patrick Olsen, Editor-In-Chief at CARFAX. "Potential buyers should do their research and act quickly if they're considering getting a new car; these price gaps won't last forever."

What's driving the tight market? Limited used car inventory, which remains below pre-pandemic levels. The ripple effects of reduced new-car sales during the pandemic mean there are fewer used cars available today. Adding to the atypical market conditions is a dip in consumer confidence, now at its lowest point since April. In response, dealers and automakers are offering new financing deals to encourage buyers to consider new vehicles.

Shopping for a Car? Here Are 3 Top Tips To Consider:

  1. Search: Check CARFAX Car Listings for thousands of new and used cars in your area — every used car comes with a free CARFAX Report.
  2. Compare: Don't assume "used" is cheaper right now. If a new car's price is close to the older model, consider the value of fewer miles, newer features, full factory warranties, interest rates, and lower maintenance costs.
  3. Finance: Explore different makes and models that fit your budget, and ask the dealer about financing, warranty coverage, and interest rate options.

To put these numbers into perspective, let's take another look at a Honda Civic. The average price of a 2023 Civic on Carfax Car Listings right now is $24,300, while the average price of a new 2025 Civic is $27,400. If buyers are putting 10% down on their purchase and choosing to pay over 72 months, the monthly payments are incredibly close:

  • A shopper with great credit would pay about $372 a month for the used 2023 Civic, paying the average 7% interest.
  • A shopper with great credit would pay about $397 for a new 2025 Civic, paying 4.99% interest (according to Honda Financial Services for a new Honda).

That's only a $25-a-month difference in payments, but the new buyer has a car that's 3 years newer, has more features, has nearly zero miles on it, and has a full factory warranty.

Editor's note: These numbers are based on CARFAX Car Listings data from September and October 2025. Interviews with a Carfax expert are available anytime. Please contact Em Nguyen at emnguyen@carfax.com.

About CARFAX

CARFAX, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX® vehicle history information. The expert in vehicle history since 1984, CARFAX provides CARFAX Car ListingsCARFAX Car CareCARFAX History-Based Value and the flagship CARFAX Vehicle History Report to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post. Shop, Buy, Service, Sell – Show me the CARFAX®.

S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/carfax-highest-used-car-prices-in-18-months--some-older-models-close-in-price-to-new-models-302603435.html

SOURCE CARFAX

News Provided by PR Newswire via QuoteMedia

SPGI
The Conversation (0)
KKR, CrowdStrike Holdings and GoDaddy Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

KKR, CrowdStrike Holdings and GoDaddy Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24 to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market... Keep Reading...

Palo Alto Networks Set to S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Tuesday, June 20 to coincide with the quarterly rebalance. The U.S. equity markets will be closed on Monday, June 19 in... Keep Reading...
American Pacific Named a Finalist in Five Categories for 2022 Platts Global Metals Awards

American Pacific Named a Finalist in Five Categories for 2022 Platts Global Metals Awards

American Pacific Mining Corp . (CSE: USGD OTCQX: USGDF FWB: 1QC) ("American Pacific" or the "Company") is pleased to announce that it is a finalist in five categories for the 2022 Platts Global Metals Awards an annual program of S&P Global recognizing exemplary accomplishments across 17... Keep Reading...

Cann-IS Capital Corp. Announces Qualifying Transaction with Leading European CBD/Hemp Company

Cann-Is Capital Corp. (the “Corporation”) (TSXV:NIS.P) is pleased to announce that it has entered into a binding engagement agreement with CWE European Holdings Ltd., a company incorporated under the laws of Canada (“CWE”), pursuant to which the Corporation will acquire all of the issued and... Keep Reading...

Antares Pharma Reports Q4 and Full Year 2019 Financial Results

Antares Pharma (NASDAQ:ATRS) reported operating and financial results for the fourth quarter and full year ended December 31, 2019. As quoted in the press release: The Company reported total revenue of $37.8 million for the fourth quarter of 2019 and $123.9 million for the year ended December... Keep Reading...
Auto Finance Veteran and Former Tesla National Lease Partner Launches AmeriTrust Financial to Fill Used-Car Leasing Gap

Auto Finance Veteran and Former Tesla National Lease Partner Launches AmeriTrust Financial to Fill Used-Car Leasing Gap

AmeriTrust's platform is the first to deliver side-by-side loan and lease decisions from a single retail application, with live-inventory calculators that enable lower payments on shorter terms. AmeriTrust Financial, an independent automotive finance company, today announced the launch of a... Keep Reading...
AmeriTrust Announces Closing of Second and Final Tranche of Brokered Offering

AmeriTrust Announces Closing of Second and Final Tranche of Brokered Offering

Not for distribution to U.S. Newswire Services or Dissemination in the United States TORONTO, ONTARIO / ACCESS Newswire / January 15, 2026 / AmeriTrust Financial Technologies Inc. (TSXV:AMT)(OTCQB:AMTFF)(Frankfurt:1ZVA) ("AmeriTrust", "AMT" or the "Company"), a fintech platform targeting... Keep Reading...
AmeriTrust Announces Closing First Tranche of Brokered Offering for $36,187,200

AmeriTrust Announces Closing First Tranche of Brokered Offering for $36,187,200

Not for distribution to U.S. Newswire Services or Dissemination in the United States TORONTO, ONTARIO / ACCESS Newswire / December 23, 2025 / AmeriTrust Financial Technologies Inc. (TSXV:AMT)(OTCQB:AMTFF)(Frankfurt:1ZVA) ("AmeriTrust", "AMT" or the "Company"), a fintech platform targeting... Keep Reading...
Hands typing on a laptop with "open banking" text and related icons hovering above.

Canada’s Big Open Banking Move: Unlocking Consumer Control and Financial Innovation

In its 2025 federal budget, the Canadian government lays out a bold blueprint to foster competition, innovation and inclusion in the financial sector by accelerating open banking adoption. With the Big Six banks holding 93 percent of banking assets, this consumer-driven reform aims to dismantle... Keep Reading...

Interactive Chart

Latest Press Releases

Related News