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Used Car Pricing Surprisingly Regional

With the launch of the Oodle Index last month, we began providing price guides for cars and housing (both real estate and rentals). Our price guides include price distributions — which show what’s on the market in different price ranges as well as the median price — and tradeoff graphs — which allow users to compare prices across different key attributes (e.g., neighborhoods for housing or model year for cars).

We’ve also been looking at this data and finding some pretty interesting regional and national trends. You can read an analysis we did for the top 12 markets. We’ll also be posting about the trends we find on this blog.

One of the things we found most surprising was the variance in used car pricing across the U.S. In fact, prices vary by so much in different cities, that it may make sense to take a short road trip.

Used car prices (given the make, model, year & mileage) often differ by thousands of dollars. For example, a Toyota Camry is $1,200 more expensive in Philly than in New York City. I now understand why my friend Tom took a trip down to L.A. from S.F. the other weekend to buy a used car. The average price difference between a used Honda Civic in L.A. and S.F. is over $800. BMWs run roughly $600 cheaper in L.A. than in San Francisco.

So which cities have the best and worst deals? We computed a price index using the top 10 most popular resale cars in big cities. For the best prices, head to Atlanta, Dallas, Orlando, and Phoenix. Comparatively, steer clear of Seattle. Turns out that Seattle is the Manhattan of the resale car market, with prices for popular models uniformly between $1,000-$3,000 above the national averages.Oodle Index for Regional Car Pricing

Stay tuned as we share some more of our findings…

4 Responses to “Used Car Pricing Surprisingly Regional”

  1. March 6th, 2007 at 5:40 pm

    Mike Orren says:

    Analysis link is broken.

    (And we’d still like to be an affiliate, but nobody returns my emails…)

  2. March 7th, 2007 at 2:44 pm

    Zuzana says:

    Hi Mike, I’m sorry to hear no one responded to you yet, your email must have gotten lost somewhere. Could you email with your request? I’m sure someone will get back to you shortly. Best, Zuzana

  3. May 8th, 2007 at 8:05 am

    Sean says:

    How about this information for Canada?

  4. October 13th, 2008 at 10:45 am

    Ramon says:

    Any information on how Las Vegas compares to Phoenix or Los Angeles?

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