Popular cars like the Toyota RAV4 and Ford Mustang aren't affordable to buy used anymore, according to a new study.
For example, a three-year-old Toyota Prius will now run you $32,000.
A shortage of new vehicles and other pandemic-related factors have driven car prices through the roof in recent years.
"From August of 2019, well before the pandemic lockdowns started, to August of 2022, new car prices increased by almost 29 percent, and three-year-old used car prices increased by 52 percent, but incomes increased by only 13%," said Karl Brauer, executive analyst at iSeeCars.
A three-year-old used car needs to cost $25,542 or less to be affordable under iSeeCars' criteria.