The most popular used cars in the US
Though used car prices skyrocketed throughout the COVID-19 pandemic, driven by supply chain shortages and increased demand across the country, customers are finally seeing some relief. According to a September 2024 report from iSeeCars, the average price of a used vehicle has fallen to $32,672, a nearly 5% decrease from the year prior.
The good news doesn't end there. The average mileage on a used car has also dropped by almost 3%, meaning that consumers are now paying less for more miles. Additionally, three popular models—the Chevrolet Malibu, Toyota Corolla, and the Hyundai Elantra—are now available for less than $20,000. In comparison, just one popular model fell in that price range in 2023.
No matter how much you pay for an older vehicle, though, you'll want to ensure that your car will see you through at least a few years on the road. To help start your search, Stacker used data from iSeeCars.com to identify the 20 most popular used cars sold nationwide in 2023. Cars are ranked by market share, rounded to the nearest tenth of a percent; though some appear the same, the more precise percentages are not equal. The iSeeCars.com analysis included more than 9.2 million used car sales from the most recent five model years, 2018 to 2022.
It's important to note that although used car prices are falling, the same can't be said for interest rates. Interest on a loan for a used car will likely be an additional 12% on average, according to Consumer Reports, which can add up significantly over time.
Before shopping for a used car, you may also want to see if any brands or models have been recalled due to a failure of safety protocols. For instance, Honda recalled nearly 250,000 vehicles in 2023, citing an engine manufacturing defect that could lead to increased accident risk. Check out the National Highway Traffic Safety Administration's website to see if there's a recall on a used car you may want to buy.
