Cambridge, MA – On March 19, 2026, CarGurus Inc., the leading automotive shopping platform in the U.S., unveiled valuable tips for consumers looking to leverage their tax refunds for car shopping. With rising demand for used cars and steady new car prices, CarGurus aims to guide shoppers in maximizing their purchasing power during this tax season.

1. A Growing Market

According to Kevin Roberts, Director of Economic and Market Intelligence at CarGurus, the current automotive market is characterized by significant shifts. "This tax season, timing and location can make the difference in finding a deal," Roberts remarked. He noted that while used car demand is on the rise, new car prices remain stubbornly high, with the average price hovering around $50,000. This presents a challenging landscape for buyers, particularly as affordable options become increasingly scarce.

2. Top States for Car Shoppers

To assist buyers in making informed decisions, CarGurus highlighted several states offering favorable conditions for car shopping. For those in search of new vehicles, the most affordable states relative to the national median price of $45,179 include:

Florida – Median list price: $42,288

Ohio – Median list price: $43,773

Maryland – Median list price: $43,773

Tennessee – Median list price: $43,920

New Mexico – Median list price: $44,020

For used car shoppers, states with the highest availability of value-oriented options—defined as vehicles from 2016 or newer with under 80,000 miles and priced below $25,000—include:

Florida – Median list price: $19,614 | Average Mileage: 41,087 | Average Model Year: 2022

Texas – Median list price: $19,999 | Average Mileage: 43,403 | Average Model Year: 2022

California – Median list price: $19,999 | Average Mileage: 45,897 | Average Model Year: 2021

Illinois – Median list price: $20,604 | Average Mileage: 44,306 | Average Model Year: 2021

New York – Median list price: $20,795 | Average Mileage: 40,731 | Average Model Year: 2021

3. Opportunities in New Car Purchases

CarGurus also noted that new car supply is at its highest since mid-2020, potentially giving buyers more leverage in negotiations for vehicles that have been on the market longer than average. Notable models that shoppers might consider include:

Dodge Hornet – Median new list price: $32,485 | Median days on market: 316

Jaguar F-PACE – Median new list price: $65,936 | Median days on market: 274

Cadillac XT6 – Median new list price: $55,511 | Median days on market: 214

Nissan Kicks Play – Median new list price: $20,995 | Median days on market: 212

Subaru Legacy – Median new list price: $31,296 | Median days on market: 191

4. Declining EV Prices Create New Opportunities

As the demand for new electric vehicles (EVs) has slowed, buyers can find enticing deals on previously high-priced models. The following EVs have experienced significant price drops compared to 2025:

GMC Sierra EV – Average price: $72,937 | -23.5%

Chevrolet Equinox EV – Average price: $35,313 | -21%

Hyundai Ioniq 5 – Average price: $39,544 | -22.6%

Dodge Charger Daytona – Average price: $59,020 | -13.6%

Volkswagen ID.Buzz – Average price: $59,344 | -11.8%

5. Smart Shopping Tools for Consumers

CarGurus emphasizes the importance of utilizing advanced tools to streamline the car-buying process. Their AI-powered features help consumers customize their search based on budget, preferences, and location. The "CarGurus Discover" tool allows for conversational searches, while the "Dealership Mode" in the CarGurus app enables side-by-side vehicle comparisons and AI-generated recommendations. Additionally, extensive filters allow shoppers to compare inventory across different states, facilitating informed purchasing decisions.

6. Conclusion

As tax season unfolds, CarGurus stands ready to assist consumers in navigating the complexities of the automotive market. With the right tools and insights, buyers can maximize their tax refunds and secure the best possible deals on their next vehicle.

Original press release