(iSeeCars) – Used car prices have seen record highs over the past 15 months as the result of the global microchip shortage. According to the recent iSeeCars.com analysis of over 1.7 million used car sales in February, used car prices increased 34.1 percent, or $8,668, compared to the same period the previous year. 

Some used car prices have increased more than others due to heightened demand and limited inventory. Here are the used cars that have had the highest price increases in each state:

Used Cars with Greatest Price Increases By State – iSeeCars
StateVehicle% Used Price More than New$ Used Price More than New
AlabamaHyundai Sonata50.8%$8,313
AlaskaFord Escape39.2%$7,743
ArizonaKia Forte55.4%$7,024
ArkansasToyota Corolla46.3%$7,111
CaliforniaKia Forte54.6%$7,135
ColoradoToyota Corolla47.4%$6,781
ConnecticutKia Forte55.1%$7,040
DelawareChevrolet Equinox42.2%$7,902
FloridaKia Forte52.4%$6,479
GeorgiaNissan Versa49.2%$5,732
HawaiiKia Forte49.0%$7,192
IdahoFord Escape36.1%$6,791
IllinoisKia Forte53.8%$6,643
IndianaKia Forte55.1%$7,402
IowaNissan Rogue43.6%$8,247
KansasNissan Sentra43.9%$5,820
KentuckyNissan Sentra48.9%$6,262
LouisianaHyundai Sonata48.9%$7,805
MaineNissan Rogue39.2%$7,501
MarylandKia Forte51.6%$6,683
MassachusettsKia Forte54.2%$7,265
MichiganKia Soul51.7%$6,695
MinnesotaToyota Corolla48.0%$6,704
MississippiNissan Sentra44.1%$6,041
MissouriKia Forte53.2%$6,709
MontanaNissan Rogue44.2%$9,102
NebraskaNissan Altima46.0%$7,257
NevadaHyundai Sonata49.3%$7,795
New HampshireNissan Sentra48.5%$6,231
New JerseyKia Forte61.0%$7,750
New MexicoHyundai Elantra46.8%$6,806
New YorkKia Forte53.7%$6,932
North CarolinaAcura RDX52.7%$13,241
North DakotaToyota RAV440.8%$9,031
OhioKia Forte54.0%$6,949
OklahomaNissan Sentra50.0%$6,480
OregonKia Forte48.3%$6,603
PennsylvaniaKia Forte56.6%$7,211
Rhode IslandNissan Rogue46.3%$8,992
South CarolinaKia Forte53.5%$7,128
South DakotaNissan Rogue47.7%$9,083
TennesseeNissan Versa49.9%$5,880
TexasVolvo XC6050.8%$14,523
UtahHonda Civic45.7%$7,574
VermontToyota Corolla49.3%$7,377
VirginiaKia Forte50.8%$6,867
WashingtonKia Soul49.4%$6,924
West VirginiaFord Escape42.3%$7,697
WisconsinNissan Sentra46.6%$6,126
WyomingFord Escape37.2%$7,479
  • The Kia Forte subcompact car, which is among the most affordable new cars on the market, has the highest price increase in the most states with 17.
  • The vehicle with the highest price increase across all states is the Kia Forte in New Jersey with an 61.0 percent increase.
  • Small cars, including compact and subcompact sedans and hatchbacks, account for 31 vehicles on the list.

What Does This Mean for Consumers?

While consumers were previously advised to wait to purchase a used car if they were able to do so, the microchip shortage is expected to persist for at least a year longer than originally anticipated. The only way to avoid severe price hikes for the foreseeable future is to purchase a used vehicle that isn’t in very high demand and to avoid these vehicles with the largest price hikes. However, consumers who have one of these vehicles could see a high profit if they want to trade their car in.

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iSeeCars.com analyzed over 1.7 million 1-5-year-old used car sales in February 2021 and 2022. The average listing prices of each car model were compared between the two time periods, and the differences were expressed as both 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

iSeeCars.com is a car search engine that helps shoppers find the best car deals by providing key insights and valuable resources, like the iSeeCars free VIN check reports and Best Cars rankings. iSeeCars.com has saved users over $328 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.

This article, the Used Car to Avoid Buying Right Now in Every State, originally appeared on iSeeCars.com.