Used-car affordability shifts toward older, higher-mileage vehicles

The lower end of the U.S. used-car market increasingly means accepting significantly older and higher-mileage vehicles.
A used vehicle priced between $10,000 and $15,000 is now typically around nine years old with roughly 98,000 miles, while average new-car prices are near $50,000 and three-year-old used vehicles average more than $30,000.
That leaves the roughly $16,000 to $30,000 segment as an important affordability range for many buyers. A significant portion of $CVNA's inventory sits within this part of the market, giving the company exposure to consumers seeking alternatives to increasingly expensive new and late-model used vehicles.