BATON ROUGE, La. (BRPROUD) — A recent study discovered that car buyers in Baton Rouge are paying more for fewer cars.
According to iSeeCars, the study looked at over 21 million used cars to figure out the cost of three-year-old models in 2019 and what age a similar budget will buy in 2023.
“Plant shutdowns and limited new car production during the pandemic are still playing havoc with the used car market,” said Karl Brauer, iSeeCars Executive Analyst. “With 28 percent fewer one-to-three-year-old used cars today compared to 2019, buyers have to shop 6-year-old cars to find a comparably priced vehicle.”
The findings for Baton Rouge in the study showed the following, according to iSeeCars:
- A 3-year-old Chrysler 200 was $13,885 in 2019, but a comparable budget of $138,887 can only afford an older 8-year-old d Chrysler 200 in 2023.
- The average cost of a 3-year-old car in Baton Rouge was $23,931 in 2019 but is $32,382 in 2023.
- Compared to the price of a 3-year-old in 2019, a comparable budget of $24,636 will only buy a 6-year-old car today.
According to the study, the same budget allowed U.S. consumers to buy a three-year-old car in 2019 will only buy a six-to-10-year-old version of the same model today.
Here are the popular cars with the biggest change in budget in Baton Rouge:
- Chrysler 200
- Toyota Corolla
- Honda Civic
- Dodge Challenger
- Hyundai Accent