It’s a bit of a Catch 22.

The two used-vehicle segments whose prices increased notably from July — luxury cars and the car segment (i.e. sedans, coupes, wagons, convertibles, etc.) — climbed for an ironic reason.

They’re affordable.

While used prices of most segments were flat month-over-month in August, car segment prices were up 1.0% and luxury car prices were up 0.9%, according to the latest Carfax Used Car Index report.

“The reason seems to be that shoppers are looking for affordability in a pricey market,” Carfax editor-in-chief Patrick Olsen writes in the report.

“Those categories are good places to look: The average price of a used car on Carfax is about 20% less expensive than the average price of a used SUV on our site, or nearly $5,000,” Olsen said.

“Among luxury vehicles, it’s a smaller differential, about a 6.4% higher average price for used luxury SUVs over used luxury cars, or roughly $2,400.”

He points out the shift by some automakers from sedans to pickup truck and SUV segments shortly before COVID, given the stronger profit margins on those larger rides (which still remain, Olsen says).

“But now that gas prices have gone up, some consumers who need a used vehicle are looking for a ride that uses less gas,” he said.

And not only do these vehicles cost less (at the dealership or the gas pump), they may be more reliable, as the new Carfax Reliability Rankings indicate.

As for the full rundown of price changes in August, used SUV prices were down 0.2% month-over-month and climbed 3.6% year-over-year, car segments were up 1.0% month-over-month while rising 7.7% from August 2025 and pickup truck prices fell 0.4% from July but were up 3.7% from a year ago, according to Carfax.

Luxury SUVs were even with July and rose 4.7% in price year-over-year.

Luxury cars were up 0.9% month-over-month and were 10.1% higher than a year ago. Hybrid/EV prices fell 0.4% month-over-month and climbed 7.2% from August 2025.

Vans were up 0.2% from July and 10.4% from a year ago, Carfax said.