Prices for used cars have already increased recently, and a new study from car search engine iSeeCars indicates that tariffs could make them shoot up by around $3,000. For some popular vehicles, prices could go up even higher.
“Used car prices had been falling by as much as 7.3% in June 2024, but over the past six months, used car prices stabilized,” said iSeeCars executive analyst Karl Brauer. “Now used car prices are going up, and this is before tariffs have impacted new car pricing, which will add further upward pressure to both new and used car prices.”
Between March and November 2020, when the COVID-19 pandemic was having a major impact on the economy and the supply chain, used car prices rose 8.2%, per iSeeCars. If overall used car prices increased 5% due to President Donald Trump’s tariff plans impacting goods from our international trading partners, they would cost $1,581 more. If they increased 10%, they would cost $3,162 more.
“A price bump between $1,300 and $3,800, depending on vehicle segment, is probably not what the average used car shopper wants to face over the next six to 12 months, but it’s a definite possibility if new car pricing rises,” said Brauer.
Based on the iSeeCars study, here’s what 5% and 10% price increases would mean for some of the most popular used car models in the U.S.:
Chevrolet Tahoe (average price $51,691 as of last month)
5% - $2,585
10% - $5,169
GMC Sierra 1500 (average price $47,184 as of last month)
5% - $2,359
10% - $4,718
Ford F-150 (average price $41,483 as of last month)
5% - $2,074
10% - $4,148
Chevrolet Silverado 1500 (average price $39,504 as of last month)
5% - $1,975
10% - $3,950
Ram 1500 (average price $38,784 as of last month)
5% - $1,939
10% - $3,878
Toyota Highlander (average price $36,035 as of last month)
5% - $1,802
10% - $3,603
Already, prices for one to five-year-old used cars have increased for the first time in more than two years. As of March, these cars generally cost $31,624 in March 2025, up 1% ($317) from a year ago, with every major segment except for electric vehicles and cars/minivans. However, iSeeCars noted that even Tesla prices – which have fallen over the past two years – could increase due to tariffs.
“Tesla produces all of its U.S.-sold vehicles domestically, which would reduce the impact of tariffs. But like every automaker Tesla imports a substantial share of its vehicle components from Asia, which could mean higher new and used vehicle prices,” iSeeCars explained.
Cars aren’t the only things that are expected to become more expensive due to tariffs. Earlier this month, Audacy reported that tomatoes could get pricier due to the tariffs, costs that U.S. companies have to pay to get international goods and are thus expected to pass on to consumers.