Your Aged CR-V Could Be More Valuable Now Due to Tariffs | Carscoops

      A study forecasts that the value of used cars may increase by between $890 and $5,169 this year.

      US tariffs on new vehicles and parts have created a ripple effect on the prices of used cars. Analysts suggest that the used car market might revert to the conditions seen during the Covid pandemic. Dealers are facing inventory shortages, with some lots seeing reductions of over 60 percent.

      As if purchasing a car wasn’t already challenging, the uncertainty surrounding tariffs is adding further complications for American consumers. The latest discussions around tariffs are not just impacting new vehicle sales, but are also having a significant effect on the used car market, where inventory is tightening and prices are beginning to rise.

      On April 9th, President Trump halted most of the administration's tariffs, excluding the 25 percent duty placed on imported cars, parts, and imported steel and aluminum. Comparisons are being made between the current market dynamics and the pandemic period, when demand for new and used cars surged.

      Changes in Used Car Prices

      One person, who purchased a used Honda CR-V during last year’s Thanksgiving season, expressed surprise when he received a call from the dealer he bought it from. According to Kiel Porter writing in Bloomberg, the dealer offered him “significantly more” than his original purchase price, as it was a type of vehicle that could be resold quickly. The dealer noted that his inventory usually consisted of about 100 cars, but it had fallen to below 40.

      Porter’s experience is not unique. A report from iSeeCars notes that while used car prices had remained stable for six months, they began to rise in March. The site predicts that prices could go up between $890 and $5,169 if trends similar to those during the Covid period continue.

      At Carscoops, editor John Halas has been monitoring the value of his base 2018 Honda CR-V, observing rapid increases. In December, resale offers from CarMax and Carvana were around the low $15,000 range. By February, they rose to $16,000, and in April, they reached $18,600. This marks an impressive 23 percent increase in just four months for a seven-year-old crossover that hasn't undergone any changes.

      Similar experiences are being reported by other buyers. “Recently, I’ve been checking the prices, and I see they have soared,” remarked Angelica DeLeon, a used car buyer from Connecticut, in a conversation with NPR. After her vehicle was repossessed due to unemployment during the pandemic, DeLeon saved money for two years.

      Now employed full-time in an administrative role, DeLeon is curious about what she can purchase within her $10,000 budget. She considered a used Subaru, but the only available options exceed 135,000 miles, a level of wear she finds untrustworthy.

      There are exceptions, however. High-end luxury vehicles may not always follow the same trends. For instance, a nearly-new 2025 BMW M850i sold at a $35,000 loss for the previous owner, despite having less than 2,000 miles driven. Such cases remain uncommon and are typically confined to segments where depreciation rules differ.

      At this moment, it appears that tariff uncertainty will persist, leaving both buyers and sellers feeling anxious. While the overall economic outlook remains mixed, it is evident that for Americans seeking reliable used vehicles without overspending, the path forward is unlikely to become any easier.