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Mainstream Used Cars Like Toyota Camry 'No Longer Affordable'

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If you're already feeling the pinch from inflation, it might not be a great time to buy a used car. Affordability has dropped 26.7% from 2019, according to a study by iSeeCars, and popular models like the Honda Accord and Toyota Camry are too pricey for a used car buyer making the national median household income. 


More than 30 used vehicles that met iSeeCars' affordability threshold in 2019 are now classified as "no longer affordable."

3-Year-Old Model2022 PriceIncrease From 2019
Acura ILX$27,655$10,004
Acura TLX$32,360$11,287
Audi A3$30,059$10,980
Chevrolet Traverse$34,751$12,416
Chrysler 300$27,137$7,017
Ford Edge$30,423$8,051
Ford Mustang$33,500$11.98
GMC Terrain$27,793$9,062
Honda Accord$28,847$11,386
Honda CR-V$30,193$10,594
Hyundai Santa Fe$27,406$7,000
Jeep Cherokee$26,927$7,823
Jeep Compass$25,605$9,899
Kia Sorento$27,013$8,228
Mazda CX-5$28,464$9,141
Mini Clubman$30,145$11,596
Mini Convertible$31,779$10,100
Mini Countryman$31,318$11,748
Mini Hardtop 2 Door$27,708$10,469
Mini Hardtop 4 Door$27,403$9,571
Nissan Frontier$28,943$8,071
Nissan Maxima$30,547$9,850
Nissan Pathfinder$28,358$6,889
Subaru Crosstrek$27,916$7,674
Subaru Forester$29,759$10,016
Subaru Outback$30,018$8,366
Toyota Avalon$35,137$13,181
Toyota Camry$27,404$10,856
Toyota Prius$32,090$12,489
Toyota RAV4$32,056$11,522
Volkswagen Golf GTI$30,868$11,041
Volkswagen Tiguan$27,238$11,089
Volvo S60$34,615$14,708

ISeeCars calculated used car affordability over time with its Car Affordability Index, which compares median household income with an idealized income for financing a car.


"This is yet another indicator of how drastically prices have shifted on used cars in recent years," iSeeCars Executive Analyst Karl Brauer said in a statement. "When you have a used Toyota RAV4's price going from $20,534 to $32,090 in three years, that's a clear indicator of affordability lost."


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For many consumers, buying a used car may mean taking out a loan for a longer term with less money down, or getting a much older car. If you're thinking you may just snap up a used Honda CR-V or Chevy Traverse, make sure you can afford the higher price. "While it may be tempting to take out a longer loan to minimize monthly payments, or to make a smaller down payment, in this high-interest environment, buyers will end up paying even more in the long run," Brauer said.


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