Used cars have seen massive price fluctuations this year as the automotive market strives for the normal supply, demand, and inflation it enjoyed before the pandemic. According to research from CoPilot, the average cost of a used car in April 2023 was just under $32,000 – after it dropped by over 11% from this time last year.
Which Used Cars Take the Biggest Bite Out of Your Wallet
So how can you avoid the pitfalls of high prices? By knowing what to avoid! Here are the five most expensive used car body types to watch out for when buying a car, according to CoPilot data.
Coupes are two-door passenger cars that often focus on high performance—that’s what made them popular in the past and what makes them so costly now. Coupes are the most expensive type of vehicle on this list. The average price of a coupe as of April 2023 was $43,000 – roughly $14,000 more than they cost in late 2019 before the pandemic.
SUVs are best known for being large – they combine power and space from off-road vehicles with the passenger comfort and drivability of daily drivers to create a family-friendly ride with plenty of versatility. Their popularity and prevalence in today’s market make them number two on this list at just
under $42,000 on average. While this is up from previous months, it’s actually more than $2,000 less than last year’s average cost.
A convertible is synonymous with luxury and adventure – with no top and plenty of speed, it makes for a distinct look on the road and can be considered a favorite of collectors. Unfortunately, luxury and collectability drive up the price of the average used car, and convertibles are no exception. Convertibles are just below SUVs, with a less than $30 difference in average cost between them. The average price paid for convertibles was $41,958 in April 2023.
Trucks are heavy-duty haulers, adventure finders for off-roaders, and vital work vehicles. The versatility, power, and unique build behind them bring them to the more expensive side of used car body types. It also doesn’t help that popular manufacturers like Ford are shifting focus to electric trucks,
leaving old popular models to be found and coveted used instead of new and driving up prices. The average price for a truck is $40,500 – CoPilot estimated the cost is 30% higher for trucks now than it was pre-pandemic.
Vans have more use as commercial vehicles than as daily drivers for consumers, but that didn’t make them exempt from rising used car prices during COVID. Like SUVs, the average price of a van went down by a few thousand dollars since this time last year, and it also went down by $300 since March 2023. So why are vans on this list? Because, at an average price of $37,500, vans are a whopping 74% more expensive now than they were before the start of the pandemic. That gives them the highest price difference of any other vehicle type!
Save More When Shopping for Used Cars
So if you’re looking for a used car anytime soon, you should avoid these five expensive types of used cars and go for a sedan, hatchback, station wagon, or crossover instead.
This post may contain affiliate links. Meaning a commission is given should you decide to make a purchase through these links, at no cost to you. All products shown are researched and tested to give an accurate review for you.