Shopping for a used car got a little harder on the wallet in September. The average asking price on a used vehicle at U.S. dealers was $27,235, according to Cox Automotive's vAuto data, released Oct. 16. That is the highest monthly average since December 2022 and nearly 6% more than a year earlier.
The month-to-month move was tiny. August's average was revised to $27,223, so September added just $12. But September was the third month this year above $27,000, after June and August, and the cheapest corner of the market keeps shrinking.
Fewer cars under $15,000
Dealers had 2.21 million used vehicles on their lots at the end of September, up 3.3% from a year ago and 3.9% from August. With retail sales slowing 6.3% from August, to about 1.35 million, supply rose to 49 days from 44. That sounds like more choice, and overall it is. It is not true at the bottom of the price range.
Vehicles listed under $15,000 had only 34 days of supply, 15 days below the market average. Supply in that band fell 16.2% from a year earlier, and those cars now make up 15.7% of used inventory, down from 19.4% in September 2025. For buyers on a tight budget, that means fewer cars to pick from and less room to negotiate.
The used-car market in September 2026
| Measure | September 2026 | Change |
|---|---|---|
| Average listing price | $27,235 | Up nearly 6% from a year ago |
| Dealer inventory | 2.21 million | Up 3.3% from a year ago |
| Days' supply | 49 | Up from 44 in August |
| Days' supply under $15,000 | 34 | 15 days below the market average |
| Share of inventory under $15,000 | 15.7% | Down from 19.4% a year ago |
| Certified pre-owned sales | 213,525 (est.) | Up 10% from a year ago |
Source: Cox Automotive, vAuto Live Market View, Oct. 16, 2026.
Certified pre-owned vehicles held up well. Cox estimates 213,525 CPO sales in September, down 6% from August but up 10% from a year earlier, and their share of used retail sales rose to 15.8% from 15.2%. Ford, Chevrolet, Toyota, Honda and Nissan were again the five best-selling used brands, together accounting for more than 49% of used retail sales.
Why other price gauges look softer
Not every measure shows used cars getting pricier. The Manheim Used Vehicle Value Index, which tracks what dealers pay at wholesale auctions, fell to 205.9 in September, down 0.6% from a year ago and 1.1% from August. The government's consumer price index for used cars and trucks was about 1.5% below its September 2025 level, even after rising 0.7% from August on a seasonally adjusted basis, according to Bureau of Labor Statistics data.
The figures measure different things. Cox's number is a simple average of what dealers are asking, so it climbs when the mix on lots shifts toward newer, pricier vehicles. Cox says sales of vehicles under three years old were noticeably higher than a year ago and that more young used cars reached the market. The CPI, by contrast, tries to track the price of comparable vehicles over time.
What it means if you are shopping now
Financing is easier to get, even if it is not cheaper. Cox says credit availability in September reached its best level since April 2015 on the Dealertrack Credit Availability Index, even as borrowing costs rose. Scott Vanner, who wrote the Cox report, put it simply: "consumers are doing what it takes to get into their next vehicle."
For budget buyers, the numbers point to a few practical steps. Widen the search radius and the age range, since cars under $15,000 sell fast. Compare a CPO car's price against a similar non-certified one to see what the warranty is costing you. And get a loan quote from a bank or credit union before visiting the dealer, so you can tell whether the dealer's financing offer is actually a good deal.
