Used-Car Prices, Spring 2026: What to Expect

Used car prices peaked in late 2022 and have been declining since. The correction has been slower than most analysts predicted, but by spring 2026, values are down 18–22% from peak across most segments. The tariff situation has complicated the descent: with some new imported vehicles getting more expensive, demand for used domestics and used Korean-built EVs has ticked back up.

Where prices are now

The Manheim Used Vehicle Value Index, the industry's benchmark for wholesale used-car pricing, sits about 15% below its 2022 peak as of April 2026. Retail prices at franchised dealers have come down somewhat, but with less urgency: franchised dealers have maintained margins by buying less at auction and being selective.

Segment	Peak avg value (2022)	Current avg value	Change
Full-size trucks (3 yr old)	$54,000	$44,500	-18%
Midsize SUVs (3 yr old)	$38,000	$30,500	-20%
Compact cars (3 yr old)	$27,000	$21,000	-22%
EVs (3 yr old)	$48,000	$34,000	-29%
Luxury sedans (3 yr old)	$52,000	$40,000	-23%

EVs have seen the steepest value decline, which has created a compelling buy case for used EVs in particular. A 3-year-old IONIQ 5 or Model Y with 35,000 miles can be had for $33,000–$38,000. Those vehicles are mechanically mid-life, still have 5+ years of battery warranty coverage, and come in well under a comparable new EV after any remaining incentives are factored in. For a detailed look at buying used EVs, see how to buy a used EV.

Tariff effect on used-car demand

When new imported vehicle prices rise, used versions of those vehicles become relatively more attractive. That's been playing out since April. Used Toyota RAV4s and Honda CR-Vs, whose new versions face tariff pressure, have seen 3–5% price upticks from where they were in March. Used BMW and Mercedes inventory is moving faster than it was in Q1.

The offset is that domestically assembled new vehicles, particularly Hyundai/Kia crossovers and Chevy trucks, have held their new-car value better, which reduces the relative discount on 3-year-old equivalents.

Best values right now

The clearest used-car opportunity in spring 2026:

3-year-old EVs. Battery technology has matured enough that a 2023 EV has most of the same practical capabilities as a 2026 one. Range degradation on quality lithium packs over 3 years is typically 3–5%. The savings versus new are often class="relative z-10"2,000– class="relative z-10"8,000.

Outgoing-generation crossovers. Vehicles that just got a full redesign — where the prior generation is being cleared at auction — represent the classic used-car discount window. Check which models redesigned for 2025 or 2026.

Full-size trucks, 2–4 years old. The correction in truck values has been real. A 2-year-old F-150 or Silverado with 25,000 miles is class="relative z-10"0,000– class="relative z-10"4,000 cheaper than a new equivalent equipped identically, and the vehicles are mechanically near-new.

If you're selling or trading in

Private-sale values remain higher than dealer trade-in offers by 10–15%, as always. With an improving economy and steady demand from buyers priced out of the new-car market, private-sale conditions are reasonable. The window to capture peak used-car values has passed, but you're not in a crisis. Pricing your vehicle 5–8% above what you'd accept gives room to negotiate without looking unrealistic.

If you're trading in at a dealer, see the trade-in guide for how to negotiate the trade separately from the purchase price.

What to watch

The tariff situation will continue to influence the used market through summer. If the 15% tariff is extended, reduced, or eliminated, expect a rapid repricing of used vehicles in the affected segments. Buying used imports under tariff pressure is a bet that tariffs stick. If they're lifted, new-car prices fall, used prices adjust down behind them.