Where used cars are priciest, least expensive

If you live in a Western state, chances are the landscape features more than just mountainous scenery.

It may also include pricey used vehicles.

Same goes for two metro areas of South Florida.

According to an iSeeCars.com analysis of more than 8 million car sales, four of the five states where consumers are shelling out the most for used cars are Western states, with Alaska topping the list. The study also looked at the priciest and least expensive cities for used cars.

On the state level, with an average used-car price of $29,656, Alaskans are paying 20% more than the national average for a pre-owned purchase.

Next on the list was Wyoming, with an average used-car price of $29,419, which was 19.1% higher than the national average.

Montana was third ($27,303; 10.5% higher than national), followed by Arkansas ($27,123; 9.8% higher) and Idaho ($26,662; 7.9% higher).

“Supply and demand for certain vehicle types varies geographically, which is why used car prices vary across cities and states,” iSeeCars executive analyst Karl Brauer said in the report. “States with temperate climates tend to have more lower-priced sedans, while mountainous and harsh climate areas prefer trucks and SUVs.” 

On the opposite end of the price spectrum, Indiana had the lowest-priced used cars, with an average price of $21,961 that’s 11.1% below the national average, iSeeCars found.

It was followed by Ohio ($22,244; 10% lower), Connecticut ($22,528; 8.8% lower), Virginia ($22,618; 8.5% lower) and Kentucky ($22,995; 6.9% lower).

The average used-car price was $24,710, according to the study.

iSeeCars also broke down the data by 50 metropolitan areas. The two most expensive markets were both in Florida: West Palm Beach-Fort Pierce, where the average used-car price was $27,737 or 12.2% higher than the national average; and Miami-Fort Lauderdale, where average used-car prices of $27,623 were 11.8% higher than the national average.

Conversely, the Norfolk-Portsmouth-Newport News area of Virginia had the lowest prices at $21,545, which was 12.8% lower than average. The Hartford-New Haven market in Connecticut was second-lowest, with average used prices of $21,594, or 12.6% below average. Cincinnati was right there, with prices at $21,597.

To determine the list, iSeeCars examined more than 8 million used-car sales from February through July, aggregating used-car prices for each state.