(iSeeCars) — Used car prices are currently up 16.9 percent over last year as the microchip shortage continues to impact the automotive industry, according to iSeeCars.com’s latest used car price analysis of 2.0 million car sales in May. This is down from a 23.9 percent increase in April.

Used Car Price Increases by State

Are used car price increases consistent across the country? Here are the average used car price increases by state in ascending order:

iSeeCars’ used car pricing analysis shows that consumers may be more likely to find a deal in some states than others.

  • New York is the state with the greatest used car price increase in May 2022 compared to May 2021 at 25.7 percent, which amounts to $7,068.
  • Wyoming has the smallest used car price increase at 8.6 percent, which amounts to $3,387.
  • Of the 10 states with the highest price increases, six are Eastern coastal states.

Vehicles with the Highest Used Car Price Increases by State

iSeeCars also examined which used car has…

Read Full Story: https://www.localdvm.com/news/lifestyle/automotive/used-car-prices-how-our-increases-compare-to-other-states/