PR Newswire
Used Car Prices Start to Plateau After Months of Increases
CENTREVILLE, Va., July 28, 2026 /PRNewswire/ — After several months of soaring car prices, the used car market is beginning to stabilize, according to the latest CARFAX data. Nationally, used car prices rose by about $50 in July, marking the smallest monthly increase in several months. Average prices for vans and minivans saw a slight decline, while hybrid and EV prices remained flat, signaling a more balanced market heading into the second half of the summer. According to CARFAX, the rolling seven-day median average price for used cars is $25,800, with new car prices around $44,500.
“While prices remain high, the overall rise in costs was much lower than in the past few months. The CARFAX Used Car Index shows prices for July rose just 0.1%, or about $50, over the previous month,” said Patrick Olsen, Editor-in-Chief at CARFAX. “That’s down from a $350 increase last month and a $900 increase the month before. An increase in the supply of used cars is helping to ease some of the pressure. After a strong spring with rising car prices, we’re now seeing the market catch its breath.”
For consumers looking for a vehicle, the slower pace of price increases may give them more time to compare options to find the right vehicle without feeling rushed by rapidly rising prices. Local prices can also vary significantly based on inventory and demand. A vehicle that is expensive in one market may be more affordable just a few hours away. Shoppers who are willing to consider different makes and models or expand their search to nearby markets may find additional opportunities to save.
Here Are Five Tips for Buying a Used Car With Confidence
- Get the CARFAX Report: Before buying, get the vehicle history report directly from CARFAX or a dealer’s official listing site to better understand the vehicle and avoid scams.
- Reputable Dealers: Check CARFAX Car Listings for millions of new and used vehicle listings which all come with a free CARFAX Report. Also, consider a CARFAX dealer, where vehicles are checked for prior damage, title, and recall status.
- Know the Vehicle’s Value: Use the CARFAX History-Based Value to make sure you’re getting a fair price based on a vehicle’s full history, not just its sticker price.
- Vehicle Inspection: Have the vehicle inspected by a trusted mechanic to detect hidden damages and confirm the vehicle’s details.
- Test Drive: Always check out the vehicle in-person and verify the seller.
Consumers can search millions of new and used vehicles on CARFAX Car Listings, where every listing includes a free CARFAX Report. With a database powered by more than 177,000 sources and more than 38 billion records, CARFAX delivers trusted insights, supporting smarter decisions at every stage of the vehicle journey.
About CARFAX
CARFAX, part of Mobility Global Inc. (NYSE: MBGL), helps millions of people every day confidently shop, buy, service, and sell cars with innovative solutions powered by CARFAX® vehicle history information. The expert in vehicle history since 1984, CARFAX provides CARFAX Car Listings, CARFAX Car Care, CARFAX History-Based Value, and the flagship CARFAX Report to consumers and the automotive industry. CARFAX owns the largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and USA Today. Shop, Buy, Service, Sell – Show me the CARFAX®.
Mobility Global is the world’s standard for automotive information, providing critical data and analytics across the full vehicle lifecycle. Mobility Global supports the world’s major automotive manufacturers, suppliers, dealer groups, media, financial institutions, and consumers with data, forecasts, insights, technology, and innovation. For more information, visit mobilityglobal.com.
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SOURCE CARFAX
