The Kobeissi Letter(@KobeissiLetter):America’s car affordability crisis is getting worse. The average price paid for a 3-year-old vehicle in the US surged to a record $32,461 in Q2 2026. This officially surpasses the previous record of $31,628 set in 2022. Since 2020, the average price of a 3-year-old vehicle has soared +$9,701, or +43%. The squeeze is becoming even more visible at the lower end of the market, where a $10,000 to $15,000 budget now buys a vehicle averaging nearly 9 years old with ~98,000 miles. In 2019, the same budget bought a vehicle less than 5 years old with ~58,000 miles. Even used car ownership is becoming a luxury.

2026.09.29 14:59

America’s car affordability crisis is getting worse. The average price paid for a 3-year-old vehicle in the US surged to a record $32,461 in Q2 2026. This officially surpasses the previous record of $31,628 set in 2022. Since 2020, the average price of a 3-year-old vehicle has soared +$9,701, or +43%. The squeeze is becoming even more visible at the lower end of the market, where a $10,000 to $15,000 budget now buys a vehicle averaging nearly 9 years old with ~98,000 miles. In 2019, the same budget bought a vehicle less than 5 years old with ~58,000 miles. Even used car ownership is becoming a luxury.