4 Florida Cities Dominate Top 10 List for Cheapest Used Cars
We all know it’s been a rough couple years for car buyers. It feels like prices never seem to lower and we keep watching them skyrocket. For people that didn’t want to purchase a new vehicle, you could find great deals on used cars, but not anymore. You might be wondering, “what are the cities with the cheapest used vehicles in the USA?” Car shopping is never easy, but we’re here to help you find the cities with the cheapest used vehicles in the USA and Florida has 4 cities in the top 10 … in the whole country.
Let’s take Florida’s best selling full sized truck, the Ford F-150. There are many different trim levels and accessories to choose from but today we’re going to focus on the cheapest option, the XL 2WD (2-wheel-drive) Short Bed Regular cab. In 2019, the starting price for the XL 2WD Short Bed Regular cab F-150 was $28,155. That is the most basic package you could get. For the 2024 lineup, Ford still has the XL 2WD Short Bed Regular cab F-150, but the price tag is astronomically higher. Coming in at $38,565 in 2024, that is over a $10,000 jump in just 5 years for basically the same vehicle.
Higher mileage, used vehicles used to offer financial relief to many buyers looking for a solid vehicle at a lower price tag. According to Edmunds.com used vehicles with 100K-150K miles are costing buyers 40% more in Q2 of 2023 than they did in Q2 of 2019. Used vehicles averaging miles between 150K-200K are costing over 28% more than in Q2 of 2019.
Top 10 Cheapest Cities To Buy Used Vehicles In The USA:
- Jersey City, N.J.
- Hollywood, California
- Miami, Florida
- Huntington Beach, California
- Detroit, Michigan
- Cleveland, Ohio
- Santa Ana, California
- Orlando, Florida
- Fort Lauderdale, Florida
- Tampa, Florida
When could we see some relief on vehicle prices?
Thanks to Caredge.com, they provide weekly updates on selling trends for used vehicles. At the start of 2023, full truck prices had started to stabilize. New truck inventory is rising again and we should expect to see prices drop even more over the next few months. In September 2023, truck prices fell 5% at auction leaving buyers facing a huge loss of value. Buying vehicles the last few years was a lot like playing the stock market, but soon we could see some lower prices across the board.