The U.S. used vehicle market has “fundamentally repriced itself,” writes Edmunds Director of Insights Ivan Drury in an analysis of second quarter data. Units sold for less than $20,000 represented 31.8% of transactions, down from 55.2% in Q2 2019, while the share of $30,000-plus deals increased from 16.8% to 35.8%.

The result? The same $10,000 to $15,000 budget that bought a 4.7-year-old unit with 58,250 miles in 2019 would buy a significantly older (by four years) and longer-traveled (by 40,000 miles) vehicle today.

“The trend extends across every affordable price range in the used market. In the $15,000-$20,000 price range, the average vehicle age has climbed from 3.4 years to 6 years, while the average mileage has climbed from 41,851 to 71,192,” Drury writes. “Even vehicles priced between $5,000 and $10,000 are getting older, with the average age rising from 8.1 years to 10.7 years and typical mileage now exceeding 120,000 miles.”

Edmunds data shows the average transaction price of a 3-year-old vehicle now stands at $32,461, up 43.7% from Q2 2019 and 4% year over year. Drury notes higher ATPs have failed to discourage buyers.

“Despite higher prices, 3-year-old used vehicles sold just as quickly as they did a year ago, spending an average of 38 days on dealer lots in both Q2 2025 and Q2 2026 — a sign that shoppers remain willing to pay record prices rather than wait for relief.”

Read the full report at Edmunds