“Swift swings” takes a quick peek at one economic trend.
The number: Southern California drivers pay the nation’s fourth-highest price for the oldest of used cars.
The source: My trusty spreadsheet looked at an analysis of used car buying by iSeeCars, which tracked average prices and sales patterns for used cars that are 10 years old or more in 50 large metropolitan areas – including five from California.
Topline
It cost $13,984 to buy the typical 10-year-old car in Southern California this year. That’s up 53% gain since 2014 – the 33rd-biggest increase of the 50 markets tracked.
Elsewhere in California …
No. 7 Fresno: $13,325 this year after 41% gain from 2014 (No. 48).
No. 8 Bay Area: $13,283 after 46% gain (No. 44).
- REAL ESTATE NEWSLETTER: Get our free ‘Home Stretch’ by email. SUBSCRIBE HERE!
No. 10 San Diego: $13,098 after 44% gain (No. 45).
No. 30 Sacramento: $12,085 after 33% gain (No. 49).
Details
Old is a growing slice of used cars because they’re the cheapest option for drivers.
And these vehicles are no longer “clunkers,” because this era’s vehicles are better made and last longer.
Since 2014, Sacramento had the nation’s second-largest jump in the 10-year-old vehicle’s share of used car sales. Its slice went from 14% a decade ago to 26% in 2024. By the way, Sacramento now also has the second-biggest old-car market share among the 50.
Elsewhere in California …
No. 13 jump in San Diego: 20% of used car sales this year (No. 22 share) vs. 12% in 2014.
No. 20 Bay Area: 19% this year (No. 29 share) vs. 12% in 2014.
- INFLATION TRENDS: What’s up? What’s cheaper? What’s next? CLICK HERE!
No. 31 Southern California: 16% this year (No. 41 share) vs. 11% in 2014.
No. 39 Fresno: 14% this year (No. 48 share) vs. 10% in 2014.
Bottom line
Nationally, these older vehicles claimed 23% of used car sales this year – up from 17% in 2014.
Sadly, the bargain seeker’s enthusiasm bumps up costs. So, the typical 10-year-old-plus car went for…
Read the full article here
