It’s Becoming Impossible to Buy Any Car for Under $20,000 (Even Used)
Editor:
Brad Tuttle
Brad Tuttle
Senior Editor | Joined January 2014
Has also written:
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If you're having a hard time buying a car, you're not alone. The costs for new cars and used vehicles alike continue to remain unusually high, and an automobile that costs under $20,000 is becoming a truly rare breed.
According to a report from online car sales platform iSeeCars.com, used cars that cost below $20,000 make up just 12.4% of the market in 2023, a massive dip in market share since 2019.
Unsurprisingly, new car shoppers have an even harder time finding vehicles under that price point: Car valuation company Kelley Blue Book says that there is only a single model on the new car market selling for less than $20,000, on average.
What's more, reports recently surfaced that this lone sub-$20,000 new car is being discontinued.
