With car and gas prices on the rise, CarGurus experts spotlight the market insights and AI-powered tools that can help shoppers find their best value this spring

BOSTON, March 19, 2026 (GLOBE NEWSWIRE) -- CarGurus, the No. 1 most visited automotive shopping site in the U.S.¹, today released tips for car shoppers looking to find their best deal this tax season. With demand for used cars rising, new car prices remaining high, and uncertainty around gas prices putting more attention on fuel-efficient models, CarGurus experts have identified the top opportunities to find value today — especially for shoppers planning to put their tax refund to work, with the average refund coming in 10% higher than last year.

"This tax season, timing and location can make the difference in finding a deal," said Kevin Roberts, Director of Economic and Market Intelligence at CarGurus. "Used car demand is already picking up, and competition is likely to continue growing, putting pressure on prices. While new car demand is slowing, the average price is holding at around $50,000 as affordable options are getting harder to find. The good news, though, is that certain models and regions are showing signs of opportunity for shoppers."

Top States for Value and Selection

For shoppers looking to stretch their refunds, several states stand out for having a wider selection of affordable new and used car options. The most affordable states² for a new car relative to the national median price of $45,179 are:

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, select states have the highest supply in the "value sweet spot," with newer model years (2016 or younger), reasonable mileage (80,000 miles and under), and competitive pricing ($25,000 or below). This includes:

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

Refund Ready Rides

Nationally, new car supply is at its highest since mid-2020, according to CarGurus' February Intelligence Report. This could give shoppers more room to negotiate on new models that have been listed longer than average. Examples 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

Slowing demand for new EVs has also opened opportunities for deals. The following new EV models have seen the biggest price declines over the last year:

GMC Sierra EV – Average price: $72,937 | -23.5% vs. 2025
Chevrolet Equinox EV – Average price: $35,313 | -21% vs. 2025
Hyundai Ioniq 5 – Average price: $39,544 | -22.6% vs. 2025
Dodge Charger Daytona – Average price: $59,020 | -13.6% vs. 2025
Volkswagen ID.Buzz – Average price: $59,344 | -11.8% vs. 2025

Tools that Help Buyers Shop Smarter

For many, a tax refund can create an opportunity to put more money toward a car purchase. Deciding which option best fits your needs and budget isn't always as straightforward.

CarGurus' AI-powered tools and features help make that process easier. With CarGurus Discover, shoppers can use conversational search to uncover listings based on their unique preferences, budget, and location. Once they step onto a dealer's lot, Dealership Mode in the CarGurus app lets users compare vehicles side-by-side, get an AI-generated recommendation on their best option, and easily calculate the final price. For those considering whether to buy locally or look further from home, CarGurus' extensive filters let shoppers search by distance, making it simple to weigh the pros and cons of buying in another state where pricing or inventory may be more favorable.

About CarGurus, Inc.

CarGurus (NASDAQ:CARG) is the leading multinational automotive platform helping consumers and dealers confidently buy and sell vehicles. Founded in 2006 with a mission to bring more trust and transparency to car shopping, CarGurus is the No. 1 visited automotive shopping site in the U.S.¹ with the largest selection of inventory and network of dealers.³ CarGurus' unmatched selection, trusted automotive insights, and data-driven products and solutions support each shopper's journey — from online research and shopping to in-dealership decisions — to empower them at every step. And, by translating data from billions of monthly site interactions, CarGurus provides dealers a personalized, predictive intelligence platform with software solutions that helps them run their businesses more efficiently and profitably at all stages of inventory acquisition and pricing, marketing, and conversion to sale.

CarGurus operates online marketplaces in the U.S., U.K., and Canada. The company's network of brands includes PistonHeads, the largest online motoring community in the U.K.³, and Autolist, a U.S.- based online marketplace.

To learn more about CarGurus, visit www.cargurus.com.

¹Similarweb: Traffic and Engagement Report [Cars.com, Autotrader.com, TrueCar.com, CARFAX.com Listings (defined as CARFAX.com Total Visits minus Vehicle History Reports)], Q4 2025, U.S.

²Analysis focused on the continental United States

³Compared to Autotrader.com (YipitData July/August 2025), Cars.com,

TrueCar.com (YipitData as of September 30, 2025), and CARFAX (Joreca as of September 30, 2025).

³Similarweb: Traffic Insights, Q4 2025, U.K.

Media Contact:

Maggie MeluzioDirector, Public Relations & External Communications

pr@cargurus.com

Investor Contact:

Kirndeep Singh

Vice President, Head of Investor Relations

investors@cargurus.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfe87eeb-ccaa-40e1-8b92-2b681dd62af1.

Tax Season Car Shopping: CarGurus Shares Tips to Help Buyers Stretch Their Refund