EL PASO, Texas (KTSM) – A new study shows that El Paso is among several cities seeing an increase in the price of used cars.
The report, compiled by theclunkerjunker.com with data from Cars.com, revealed that El Paso was just behind Anchorage, Alaska in the price for a used car.
The average price for a used vehicle in the Sun City was 8.85-percent higher than the national average, according to the report.
The study suggested that prices were higher in places that are relatively isolated due in part to the increased freight/shipping costs.
That’s why places such as Anchorage, Lubbock, and Honolulu also made an appearance on the list of cities with the least affordable used cars alongside El Paso.
The study also noted local demand for used cars, state taxes, overall supply, and other issues could greatly impact how a dealer prices used vehicles.
On the flipside of things, the state of Florida dominated the list of the best cities to find an affordable used vehicle with five cities ranking in the top ten.
However, the best city overall was Jersey City, New Jersey, where the typical used car sells for 9.08-percent less than the national average.
The study also noted that the average car in El Paso costs 79.8-percent of the average person’s yearly income, which was the highest percentage of any major city in the country.