Used car prices finally appear to be falling after two years of year-over-year price increases as a result of the global microchip shortage. According to a recent iSeeCars.com analysis of over 1.9 million used car sales, used car prices decreased 3.0 percent in December 2022 compared to the previous year.

Despite the average used car decreasing in price, some used cars have increased in price. Here are the used cars that have had the highest price increases in each state:

The car with the highest year-over-year price increase is a tie between the Chevrolet Bolt and the Toyota RAV4 Hybrid, in seven states. The vehicle with the highest price increase across all states is the Porsche 911 in Illinois with an 37.3 percent increase. Hybrid and electric cars account for 22 vehicles on the list. What Does This Mean for Consumers?

Used car prices are dropping, which means that shoppers who are waiting for prices to come down are now becoming more likely to find a used vehicle in their price range. While prices are still above pre-pandemic levels, the trend of falling used car prices is expected to continue presenting a buying opportunity in the coming months for shoppers who have waited to buy a used car over the past two years.

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iSeeCars.com analyzed over 1.9 million 1-5-year-old used car sales in December 2021 and 2022. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as a percentage difference from the 2021 price as well as a dollar difference. Heavy-duty vehicles, low-volume vehicles, vehicles discontinued as of the 2022 model year, and vehicles with fewer than 4 of the 5 model years for each period were excluded from further analysis.

About iSeeCars.com

This article, Used Cars to Avoid Buying Right Now, originally appeared on iSeeCars.com.

iSeeCars.com is a data-driven car search and research company that helps shoppers find the best car deals by providing key insights and valuable resources, including the iSeeCars VIN Check report and Best Cars Rankings. iSeeCars has saved users over $406 million so far by applying big data analytics powered by over 25 billion (and growing) data points and using proprietary algorithms to objectively analyze, score and rank millions of new cars and used cars.