If you're already feeling the pinch from inflation, it might not be a great time to buy a used car. Affordability has dropped 26.7% from 2019, according to a study by iSeeCars, and popular models like the Honda Accord and Toyota Camry are too pricey for a used car buyer making the national median household income.
More than 30 used vehicles that met iSeeCars' affordability threshold in 2019 are now classified as "no longer affordable."
| 3-Year-Old Model | 2022 Price | Increase From 2019 |
| Acura ILX | $27,655 | $10,004 |
| Acura TLX | $32,360 | $11,287 |
| Audi A3 | $30,059 | $10,980 |
| Chevrolet Traverse | $34,751 | $12,416 |
| Chrysler 300 | $27,137 | $7,017 |
| Ford Edge | $30,423 | $8,051 |
| Ford Mustang | $33,500 | $11.98 |
| GMC Terrain | $27,793 | $9,062 |
| Honda Accord | $28,847 | $11,386 |
| Honda CR-V | $30,193 | $10,594 |
| Hyundai Santa Fe | $27,406 | $7,000 |
| Jeep Cherokee | $26,927 | $7,823 |
| Jeep Compass | $25,605 | $9,899 |
| Kia Sorento | $27,013 | $8,228 |
| Mazda CX-5 | $28,464 | $9,141 |
| Mini Clubman | $30,145 | $11,596 |
| Mini Convertible | $31,779 | $10,100 |
| Mini Countryman | $31,318 | $11,748 |
| Mini Hardtop 2 Door | $27,708 | $10,469 |
| Mini Hardtop 4 Door | $27,403 | $9,571 |
| Nissan Frontier | $28,943 | $8,071 |
| Nissan Maxima | $30,547 | $9,850 |
| Nissan Pathfinder | $28,358 | $6,889 |
| Subaru Crosstrek | $27,916 | $7,674 |
| Subaru Forester | $29,759 | $10,016 |
| Subaru Outback | $30,018 | $8,366 |
| Toyota Avalon | $35,137 | $13,181 |
| Toyota Camry | $27,404 | $10,856 |
| Toyota Prius | $32,090 | $12,489 |
| Toyota RAV4 | $32,056 | $11,522 |
| Volkswagen Golf GTI | $30,868 | $11,041 |
| Volkswagen Tiguan | $27,238 | $11,089 |
| Volvo S60 | $34,615 | $14,708 |
ISeeCars calculated used car affordability over time with its Car Affordability Index, which compares median household income with an idealized income for financing a car.
"This is yet another indicator of how drastically prices have shifted on used cars in recent years," iSeeCars Executive Analyst Karl Brauer said in a statement. "When you have a used Toyota RAV4's price going from $20,534 to $32,090 in three years, that's a clear indicator of affordability lost."
For many consumers, buying a used car may mean taking out a loan for a longer term with less money down, or getting a much older car. If you're thinking you may just snap up a used Honda CR-V or Chevy Traverse, make sure you can afford the higher price. "While it may be tempting to take out a longer loan to minimize monthly payments, or to make a smaller down payment, in this high-interest environment, buyers will end up paying even more in the long run," Brauer said.
