Last week, data suggested that $20,000 is no longer an adequate sum to park a nice late-model used vehicle in your driveway. Some numbers: in 2019, the average cost of a used vehicle in America stood at $23,351. Just four years later, that number rocketed to $34,491 in 2023.
There are only three new vehicles in 2023 with an average transaction price less than $20,000: the Mitsubishi Mirage, Nissan Versa and Kia Rio. Last month the average buyer paid $17,099 for a new 2023 Mitsubishi Mirage. That represents a discount of a couple hundred bucks off the price listed on the car’s window sticker.