In the market for a car? Used vehicles have become a lot less affordable in SLC: Study

SALT LAKE CITY (ABC4) –According to a recent study, the number of 3-year-old used cars selling for less than $20,000 in Salt Lake City has dropped dramatically since 2019.

According to a study by iSeeCars, in 2019, 52.3% of 3-year-old used cars on the market in Salt Lake City were affordable, sub-$20,000 cars. In 2025, that number has decreased to only 11.7%, which is a 77.5% decline in the number of affordable cars in Salt Lake City.

Why are prices increasing so much? iSeeCars states that restricted new-car production during the pandemic from 2020-2022 impacted the supply of cars we see today, leading to substantially higher prices.

“The pandemic may be a fading memory, but the lack of new car production five years ago has created a ‘pandemic hangover’ effect for today’s used car market,” iSeeCars Executive Analyst Karl Brauer is quoted in the report. “Many car buyers are now priced out of late-model used cars, forcing them to consider older models with more miles to fit within their budget.”

Passenger cars have seen the biggest decline in affordability. In 2019, they made up the majority of affordable used cars, but now only 28.1% of 3-year-old passenger cars are priced below $20,000. SUVs also saw a big decline in affordability, leaving the average sub-$20,000 price range.

The cars with the biggest price increases in the Salt Lake City market since 2019 are the Nissan Sentra, Toyota Camry, Honda Civic, Nissan Rogue, and Kia Sportage. Despite the increase in price, the Nissan Sentra is still an affordable car, with 3-year-old models at an average price of $16,906. The Kia Sportage also stayed within the affordable range, with an average price for 3-year-old models of $19,323.

In Salt Lake City, the popular cars with the biggest drop in availability for under $20,000 are the Toyota RAV4, Subaru Outback, Toyota Camry, Honda Civic, and Subaru Forester.

If you’re looking for an affordable car, the Nissan Sentra, Toyota Corolla, Kia Sportage, and Chevrolet Trax are still selling on average for less than $20,000.