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Higher Gas and Used Car Prices Leads to Growing Interest in Fuel-Efficient Cars
- Ahead of Tax Day, new CARFAX data shows used car prices are climbing sharply after hitting their lowest point in the past year. The average price of a used vehicle is now about $25,500 — up roughly $1,500 in just one month.
Despite high gas prices initially expected to dampen demand, car sales continue to rise. Instead, both vehicle prices and fuel costs are shifting consumer interest toward more fuel-efficient vehicles. Trends on CARFAX Car Listings shows electric vehicle prices increased by more than $560 last month, marking the largest surge in EV demand in over a year.
"With rising prices, flexibility is important," said Sri Melkote, Chief Analytics Officer at CARFAX. "Shoppers should consider different makes, models, years, trims, or even nearby markets to find the best deals that fit their budget. This type of swing in prices suggests a volatile market, so tracking prices right now is crucial. Once you're ready, a vehicle history report can help you avoid costly surprises and ensure real value."
Top 10 States Where CARFAX Finds the Most "Great Value" Vehicles:
Vehicles in these states are priced the most competitively relative to CARFAX's estimated History-Based Value:
- Florida
- Texas
- California
- New Jersey
- Ohio
- New York
- Illinois
- Missouri
- Virginia
- North Carolina
There are several other factors impacting the rise in prices, including price jumps on new 2026 models driven, in part, by added tariff costs, as well as a tighter selection of used vehicles. Slower new car production in recent years has also meant fewer high-quality, low-mileage, certified pre-owned vehicles entering the market today.
As more people look into buying a vehicle, CARFAX encourages consumers to remain alert and well-informed. Following a few tips can help make the process smoother and give consumers added confidence when making one of their biggest purchases.
Here are Five Top Tips to Keep in Mind:
- Get the CARFAX Report: Before a purchase get the vehicle history report directly from CARFAX or a dealer's official listing site to better understand the vehicle and avoid scams.
- Reputable Dealers: Check CARFAX Car Listings for millions of new and used vehicle listings which all come with a free CARFAX Report. Also, consider a CARFAX dealer, where vehicles are checked for prior damage, title, and recall status
- Know the Vehicle's Value: Use CARFAX History-Based Value to make sure you're getting a fair price based on a vehicle's full history, not just its sticker price.
- Vehicle Inspection: Have the vehicle inspected by a trusted mechanic to detect hidden damages and confirm the vehicle's details.
- Test Drive: Always check out the vehicle in-person and verify the seller.
Editor's note: Used car prices in the release reflect a rolling 7-day median. CARFAX can provide more insights into the states and DMAs with the best deals trending. CARFAX experts are available for interviews. 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 cars with innovative solutions powered by CARFAX® vehicle history information. The expert in vehicle history since 1984, CARFAX provides CARFAX Car Listings, CARFAX Car Care, CARFAX 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.
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SOURCE CARFAX
